Mortgage Lender Woes by Wolf Richter • Sep 7, 2022 • 114 Comments Mortgage volume collapsed. And the stocks of the biggest mortgage lenders collapsed after IPO or SPAC merger.
EV SPAC Faraday Future Breaks the Buck, 14 Months after Going Public. Consensual Hallucination Was so Bad it Was Funny by Wolf Richter • Sep 6, 2022 • 98 Comments Never a boring day in the SPAC & IPO hype-and-hoopla clown show.
Formerly Sacred Now Rotting Silicon Valley Dictum of “Growth at All Costs” Crushes Okta: Shares Collapse 80% from Peak by Wolf Richter • Sep 1, 2022 • 101 Comments Huge losses, but now revenue growth is slowing. Hilariously, executives refer to the huge losses as “profitability.”
Bonds of Bed Bath & Beyond Collapse on Bankruptcy Fears as Suppliers with Unpaid Bills Halt Shipments by Wolf Richter • Aug 22, 2022 • 118 Comments 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.
Another Collapsed SPAC, Lottery.com, Discloses WTF Horror List and Says it Will Liquidate Unless Miracle Happens by Wolf Richter • Aug 16, 2022 • 124 Comments The years 2020 and 2021 will go down as the greatest era ever of consensual hallucination and financial gangsterism.
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.
