Everpure just reminded investors that a hot story can still produce a cold trading day. The stock dropped almost 9% to about US$99 even though Q2 delivered what management called an outstanding quarter, with revenue of US$1.19b and net income of US$74.1m. That disconnect between a sharp selloff and strong headline numbers is the story today.

Coming into this report, Everpure had surged over the past month and carried a trailing P/E above 130x. Today’s reaction shows how quickly sentiment can flip when expectations are crowded at the runway, even when the printed earnings look strong on their own terms.

Love Everpure’s strong headline Q2 revenue and profits but uneasy about paying a triple digit P/E for one crowded story? Take a look…