Many large cap stocks are trading over 2x what they were trading for just before the pandemic. How can that be justified, or sustainable over the long term? I get a lot of federal money has been dumped into propping up the economy generally and the stock market specifically.

Are big companies really projecting being able to make 2-3x the profit that they were making just over two years ago to justify that rise in stock value? Or did investors just not have any place else to park their money and dumped it into the market, values be damned? Just curious if the investors here see this run continuing to 3x or 4x what stocks were worth.
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