Winemaker SPAC with Dozens of Brands, Result of PE-Firm Backed Rollup, Files for Bankruptcy 3 Years after SPAC Merger by Wolf Richter • Jul 25, 2024 • 53 Comments Everyone was happy, sort of, except the public that bought the misbegotten shares and got wiped out?
Economy Re-Accelerates in Q2. Our Drunken Sailors Splurge on Durable Goods, Investment Jumps, Federal Gov Undoes Blip by Wolf Richter • Jul 25, 2024 • 67 Comments Our Drunken Sailors are back at it, but in moderation, so to speak, their feathers largely unruffled by interest rates.
Magnificent 7 Got on Elevator to the Moon but Someone Pushed a Wrong Button: -$1.77 Trillion in 10 Days. Tesla Blows Fuse by Wolf Richter • Jul 24, 2024 • 136 Comments Nvidia is our double-WTF chart of the year, giving up $512 billion in 10 days.
New-House Prices Solidly below Existing House Prices as Inventory Piles Up. Sales Hobble Along, Supported by Big Incentives & Mortgage-Rate Buydowns by Wolf Richter • Jul 24, 2024 • 72 Comments Inventory of completed houses jumps to highest since 2009. This pile-up of spec houses is exactly what the housing market needs.
Here Comes the Inventory of Vacant Homes: With Buyers on Strike despite Lower Mortgage Rates, Supply Spikes to Highest in 4 Years. Sales Drop Further except at High End by Wolf Richter • Jul 23, 2024 • 151 Comments A game-changer is underway. Even the NAR concedes this “shift from a seller’s market to a buyer’s market.”
CRE Gets Strangled, Corporate Bankruptcies Highest since 2010, but Junk Bonds & Broad Financial Conditions in La-La-Land by Wolf Richter • Jul 22, 2024 • 89 Comments The big divergence.
Small Stocks Keeled Over after Brief Super-Hyped “Rotation” Spike. Magnificent 7 lost $1.3 trillion in Seven Days by Wolf Richter • Jul 20, 2024 • 104 Comments That $1.3 trillion just sort of came and went within a month, and people didn’t really notice – amazing.
Non-Tesla EV Sales +45% in Q2 YoY in California, Tesla -24%: People Have Had it with Musk’s Bullshit about California and San Francisco? by Wolf Richter • Jul 19, 2024 • 290 Comments Oh Elon, trying to wreck Tesla? Consumer boycotts work, see Bud Light. Don’t mess with American consumers!
The Foreign Investors Who Bought the Recklessly Ballooning US Debt: July Update by Wolf Richter • Jul 18, 2024 • 86 Comments Who is still buying the US debt is an increasingly important question. Here are the foreign investors.
Magnificent 7 Stocks Lose $1.1 Trillion in Five Days, and It’s Barely a Blip. Trillions Don’t Even Matter Anymore by Wolf Richter • Jul 17, 2024 • 111 Comments Nvidia, after gaining $2.1 trillion YTD through July 10, gave up $418 billion or 12.6% since. Meta -13.6% in 5 days. Tesla should be kicked out of the Mag 7.
