In a market with ‘no respect for risk,’ what’s the difference between investment and speculation?

Veggie-foods maker Beyond Meat
BYND, +5.00%
 trades at 282 times estimated earnings. Teslas
TSLA, +7.30%
 stock price has doubled this year. Virgin Galactics
SPCE, +5.65%
 stock price has nearly tripled in 2020.
The worlds most profitable company, A…
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