Compass Prepares for 25% Downturn in Housing Market, Plans Serious Cost Cutting, Pukes All Over the Place by Wolf Richter • Aug 15, 2022 • 117 Comments Because suddenly the SoftBank-backed company, which blew $1.73 billion since 2017, is running out of runway.
Mopping up Mess from SPAC Mania: After Imploding, Shift Technologies (-92%) and CarLotz (-95%) Merge into One Zombie to Burn Remaining Cash Together by Wolf Richter • Aug 12, 2022 • 109 Comments 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.
“Furthermore,” This Could be the End for Investors, Says Avaya, the Lucent Spinoff. Shares & Bonds Collapse Five Years after it Emerged from Bankruptcy by Wolf Richter • Aug 9, 2022 • 115 Comments Wait a minute… Six weeks ago, Goldman Sachs & JP Morgan talked investors into buying $600 million of new debt.
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.”
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.
Would be a Hoot If Regulators Cracked Down on Companies BEFORE They Freeze Customer Deposits & Cryptos and File for Bankruptcy by Wolf Richter • Jul 28, 2022 • 154 Comments Bankrupt Voyager gets slapped with a cease-and-desist order from the Fed and the FDIC after it’s way too late.
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.
Why Delivery Giants Walmart, Amazon, FedEx & UPS even Deal with Collapsing EV Startups: EV SPAC Canoo is the Latest by Wolf Richter • Jul 12, 2022 • 194 Comments Scaring legacy automakers into finally producing electric cargo vans is like pulling teeth.
