When you say a certain stock is in a bubble what does it mean?

When a stock is said to be in a bubble, it means that its price has surged far beyond its intrinsic value, driven by speculative buying rather than fundamental financial indicators. This often results from excessive investor enthusiasm, market hype, or irrational behavior, creating a disconnect between the stock's price and its actual performance or prospects. Bubbles can lead to dramatic price corrections once the market realizes the overvaluation, causing significant losses for investors.