The cash-burn machine needs new fuel.
Shares collapsed by 68% since November. $205 billion evaporated. FANGMA without the N.
They sure made hay while the sun was shining.
There are other types of stock market leverage, and no one knows how much leverage there is in total. Margin debt is the only reported indicator.
It would be funny – if it weren’t so serious – how this stuff is imploding, and Wall Street, which created it, is now washing its hands of it.
The end of a truly amazing era.
The hype-and-hoopla era was just so much fun while it lasted.
And then there were the raging-mania Convertible Bonds with a conversion price of $420, hahaha.
The massacre of the China ADRs. Dip buyers got taken out on stretchers.
On today’s menu of imploded stocks are two extra-specials.