Snowflake reported earnings again, which these IPO companies should be prohibited from doing because it just kills the stock.
Stocks of homebuilders swoon amid worst inflation in construction costs, shortages, and spiking mortgage rates that take buyers out of the market.
“The macroeconomic environment has deteriorated further and faster than anticipated.” Kathoomph. And Zoom gives up most of its knee-jerk mini-jump afterhours.
Not a revenue-shocker (they were up even from stimulus-miracle a year ago), but a cost-shocker. Unable to pass on all the cost increases, their margins got squeezed.
Margin debt started dropping a month before the Nasdaq went south, and it’s still dropping.
This is now a common phenomenon with these Imploded Stocks.
You’re just “unsecured creditors” if we file for bankruptcy. But hey, CEO tweets: “We have no risk of bankruptcy.”
In October, Upstart was worth $35 billion, according to the collective idiocy of the hype-and-hoopla stock market. Now down to $3.6 billion.
Those that believed the hype and hoopla and didn’t get out in time got thackamuffled.
On crappy earnings and lowered guidance, many of these highflyer stocks kathoomphed -70% to -85% from highs last year.