24 Hours

[furrowtickler]

Some of those businesses were grossly overvalued based on nothing. Shopify for example, while down 75%, still trades at 10x sales which is madness for that. It is just an online store platform.

Agree , When people have way less disposable income, this was inevitable.
Add in ever increasing taxes imposed by the liberals and bingo we have a train wreck for 90% of the Canadian citizens

[bobofthenorth]

NASDAQ index threatening to break below 12,000 points, but even this index doesn't reflect the true valuation carnage in technology taking place right now. Tech stocks in absolute turmoil along with cryptos. Bitcoin breaks $29,000. Some secondary cryptos have almost totally collapsed . . . .

It's been estimate $35 trillion of market value has been wiped out since January. Apparently 14% of all global wealth has evaporated.

I hope you are being sarcastic - there never was any "value" for a lot of that vaporware.

I have a screen that I run when I'm looking for short candidates. I just ran it for giggles - it returned 20 names with market cap over 2B & P/E over 100. There is no way anyone should own anything with that ridiculous number attached to it. The market may be returning to sanity but it had a long way to go and we're not completely there yet.

[WiltonRanch]

I hope you are being sarcastic - there never was any "value" for a lot of that vaporware.

I have a screen that I run when I'm looking for short candidates. I just ran it for giggles - it returned 20 names with market cap over 2B & P/E over 100. There is no way anyone should own anything with that ridiculous number attached to it. The market may be returning to sanity but it had a long way to go and we're not completely there yet.

Boy when it gets back to sanity how much money evaporates?

[errolanderson]

Boy when it gets back to sanity how much money evaporates?

Now stir-in . . . The Lehman Bros of 'Crypto' in-progress. This is a now a massive collapse.

[foragefarmer]

Now stir-in . . . The Lehman Bros of 'Crypto' in-progress. This is a now a massive collapse.

You got this right, definitely going to nothing.

Wasn't Conservative hopeful PP talking up Bitcoin just a month ago.

Another career politician that knows F uck all about business wanting to run Canada.

[checking]

Debt defaults will force asset liquidation.

All financial sectors are tumbling. Stocks, bonds, cryptos under severe pressure . . . only place to hide right now is cash (in my view). Cash on-the-sidelines now has value.

My two-bits . . . .

Mattress location?

Oil to slide to $180.00/barrel. Where is Macdon? Peed off easterners over comment that maybe you should ask yourself if that vehicle trip is necessary, or maybe you could hitch a ride with the neighbour going by. Empty tank is a touchy subject at $110.00/barrel

Ty to admin for non redacted marketing section. Hopefully the lion feature keeps the zebra population eliminated, although maybe this would be a good time to ask anyone willing, where is your favourite futures site?

[errolanderson]

Global financial losses are now staggering. Bloomberg calculates that current losses are now 3X that of the financial crash of 2008 and nearly 2X greater than the DOTCOM crash of 2000.

[shtferbrains]

Global financial losses are now staggering. Bloomberg calculates that current losses are now 3X that of the financial crash of 2008 and nearly 2X greater than the DOTCOM crash of 2000.

I don't follow the market close enough but how much of this is peeling off what was easily seen as inflated valued that was mostly pump like meme stocks and a lot of the new green economy virtuous type investments?
Ark Investment as an example. Great appeal if you want it to happen but all bleeding edge portfolio.

Lots of bullshit hitting the fan IMHO.
When stuff looks "too good to be true" the truth most always comes with a reckoning.

[agstar77]

Greed Fear Greed Fear rinse and repeat. History repeats.

[errolanderson]

Target - down 25% this morning 🤯

At the open, it's the biggest single-day loss since 1987