Problem is the markets have been dropping ~1-2% basically every day since Trump entered office. Traders and investors were initially excited for the “business friendly”(read anti-employee/consumer) political environment but then it became clear that the current Republican administration isn’t operating on “business friendliness” and is instead entirely operating on “fuck around and find out” and now they don’t like the uncertainty of anything that’s going on at this moment
It was wildly overvalued to begin with. Even at 40% down its overvalued. It has a negative EPS. It can be replaced with a ragtag group of federated instances.
Its not worthless, but its not worth 133 a share cmon…
I mean it’s not rare for tech lol. Nvidia is down an absolute fuck ton too. Same with AMD.
Also the entire market is down closer to 10%. The market being down 2% in a day is the overall market indexes. There are wild variances in that number per individual company.
Yes, but 40% is insane. Thats not just the markets 1-2% blood red days
Problem is the markets have been dropping ~1-2% basically every day since Trump entered office. Traders and investors were initially excited for the “business friendly”(read anti-employee/consumer) political environment but then it became clear that the current Republican administration isn’t operating on “business friendliness” and is instead entirely operating on “fuck around and find out” and now they don’t like the uncertainty of anything that’s going on at this moment
When there’s a sellout “meme” and tech stocks with a lot of hype are amplified, and Reddit is 100% that.
See: it’s still up 165% over a year. The gyrations are insane and not tethered to its actual value, but basically a bunch of gamblers.
It was wildly overvalued to begin with. Even at 40% down its overvalued. It has a negative EPS. It can be replaced with a ragtag group of federated instances.
Its not worthless, but its not worth 133 a share cmon…
I mean it’s not rare for tech lol. Nvidia is down an absolute fuck ton too. Same with AMD.
Also the entire market is down closer to 10%. The market being down 2% in a day is the overall market indexes. There are wild variances in that number per individual company.