SoftBank Lost $39 Billion in 6 Months, Wiping Out the Bubble Gains of the Vision Funds Since 2017: Easy Come, Easy Go by Wolf Richter • Aug 8, 2022 • 98 Comments Now trying to avoid “a blow that would be irreversible.”
Markets Are “Fighting the Fed” by Wolf Richter • Aug 3, 2022 • 259 Comments One of the most important dictums in finance is this: “Don’t fight the Fed.” And this could get ugly.
SPAC Zombie Mergers: Nikola, Whose Shares Collapsed 92%, Buys Battery-Pack Maker Romeo whose Shares Collapsed 98% by Wolf Richter • Aug 1, 2022 • 94 Comments 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.
Meta Plunged from 5th Most Valuable Stock to 11th, behind Visa. In 10 Months, $647 Billion Vanish by Wolf Richter • Jul 29, 2022 • 186 Comments From ridiculously overvalued to troubled.
Big Tech & Startups Getting Ready for Reality: Shedding People, Offices, and Warehouses by Wolf Richter • Jul 27, 2022 • 126 Comments It’s kind of sobering. Reality has that effect, after a drunken binge.
Walmart Raises Sales Outlook, Lowers Earnings Outlook, as Inflation Bites: Shares -10% Afterhours. Target, Amazon Sag by Wolf Richter • Jul 25, 2022 • 118 Comments Food sales are hot, but some other merchandise, “particularly apparel,” requires markdowns to get moving.
THE WOLF STREET REPORT: Big Tech & Startups Getting Ready for Reality by Wolf Richter • Jul 24, 2022 • 172 Comments Shedding jobs, offices, and warehouses. It’s kind of sobering. Reality has that effect, after a drunken binge.
The Startup and Venture-Capital Barometer Plunges: Silicon Valley Bank Today v. Dotcom Bust by Wolf Richter • Jul 22, 2022 • 116 Comments The startup and VC bubble is tied to a booming stock market, but stocks are unraveling, and that strangles the money flow.
It Starts: Reverse Stock Splits for Collapsed SPACs & IPO Stocks. Bankruptcy for Others by Wolf Richter • Jul 20, 2022 • 143 Comments Reverse stock splits keep them from getting delisted. But some didn’t even get that far and filed for bankruptcy, like, WOW that was fast.
Leverage v. Stock Market “Events”: Margin Debt Plunged in June by Wolf Richter • Jul 19, 2022 • 96 Comments Few took the warning seriously that margin debt issued last year.
