The model of “growth at all cost” has been taken out to the dump.
Mortgage volume collapsed. And the stocks of the biggest mortgage lenders collapsed after IPO or SPAC merger.
Never a boring day in the SPAC & IPO hype-and-hoopla clown show.
Huge losses, but now revenue growth is slowing. Hilariously, executives refer to the huge losses as “profitability.”
Meme-stock crowd got crushed, shares collapsed 69% in 4 days. Billionaire hedge-fund hero, who might have known about unpaid bills, got out in time.
The years 2020 and 2021 will go down as the greatest era ever of consensual hallucination and financial gangsterism.
Because suddenly the SoftBank-backed company, which blew $1.73 billion since 2017, is running out of runway.
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.
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.”