PE Firms & Distressed Debt Funds to Get Mall Landlord PREIT in Prepackaged Bankruptcy Filing #2 by Wolf Richter • Dec 11, 2023 • 53 Comments Now they get to deal with the brick-and-mortar meltdown.
Tesla Model Y is #2 US Bestseller in 2023 through Q3, Behind Perennial #1 Ford F-150, and Ahead of Toyota RAV4 by Wolf Richter • Dec 7, 2023 • 103 Comments Sales of EVs soar 56.7% in 2023 through Q3. Sales of vehicles with gasoline engines languish at +1.4%. The new registrations are out.
“Unrealized Losses” on Securities Held by Banks Jump by 22% to $684 Billion in Q3, Oh Lordy by Wolf Richter • Nov 30, 2023 • 104 Comments They don’t matter until they suddenly do.
Prices of New Houses Drop Further, -18% Year-over-Year, Sales Drop, High Inventories Rise Further, Supply Jumps by Wolf Richter • Nov 27, 2023 • 225 Comments Mortgage-rate buydowns, “smaller product footprints,” and “de-amenitizing” to bring down payments: D.R. Horton.
The Collapse of EV-Charger SPACs: ChargePoint CEO Sacked, CFO out, Revenues Plunge, Losses Mount, Shares -96% from Peak. EVgo Not Far Behind by Wolf Richter • Nov 17, 2023 • 131 Comments With EV charging, America is divided into two parts: Tesla’s network and everything else.
Biggest IPO Stocks of 2023 Turn Ugly, Some Dropped over 40% from Peak Already by Wolf Richter • Nov 9, 2023 • 62 Comments And now the IPO window is shut again. The biggest nine IPOs of 2023.
Overindebted Out-of-Cash Sleep Number Blames Consumers for Results of Years of Mismanagement. Shares Collapsed 92% from Peak Consensual Hallucination by Wolf Richter • Nov 8, 2023 • 125 Comments This is the kind of chart my pantheon of Imploded Stocks is full of, driven by what I call “consensual hallucination” that then vanished.
WeWork Finally Files for Bankruptcy two Years after Going Public via SPAC. Office Landlords, CMBS Holders Face the Music, Stockholders Wiped Out by Wolf Richter • Nov 7, 2023 • 94 Comments Spent its entire life burning $13.8 billion of investor cash. Landlords got free manna from heaven and can’t complain. A good scheme while it lasted for everyone but investors.
Fed’s QE Giveth, Fed’s QT Taketh Away: Russell 2000 Hits 3-Year Low, Nasdaq Back to Dec 2020, S&P 500 Back to Apr 2021 by Wolf Richter • Oct 28, 2023 • 241 Comments Since QT started, stocks have been on their own, after having been babied by the Fed since 2008. And it’s not working out.
Prices of New Houses -15% from Peak on High Inventories. Sales Held Up with Lower Prices & Massive Mortgage-Rate Buydowns by Wolf Richter • Oct 25, 2023 • 153 Comments What homebuilder PulteGroup said about mortgage-rate buydowns. Homebuilders have figured out this market, homeowners have not.
