Homebuilder sentiment dives 8th month in a row, their stocks are down 19% to 36% YTD despite blistering summer rally.
Charts of stocks like these – hundreds of them now – are an indictment of the mania in 2020 & 2021. We’ll be shaking our heads for years.
Biggest investors in single-family houses: “We need to be patient and allow the market to reset.”
Wait a minute… Six weeks ago, Goldman Sachs & JP Morgan talked investors into buying $600 million of new debt.
Now trying to avoid “a blow that would be irreversible.”
One of the most important dictums in finance is this: “Don’t fight the Fed.” And this could get ugly.
Romeo, battery-pack supplier to Nikola, reached the end of its runway. Nikola, which reported $0 revenues from truck sales, is desperately trying to raise cash.
From ridiculously overvalued to troubled.
It’s kind of sobering. Reality has that effect, after a drunken binge.
Food sales are hot, but some other merchandise, “particularly apparel,” requires markdowns to get moving.