Dot-com bust 2.0 is becoming a reality https://www.axios.com/2022/10/28/stock-market-tech-dot-com-bubble-2022 There's a distinctly dot-com-ish feel at the moment, as even tech companies that once seemed untouchable are taking massive tumbles in the stock market, Axios Markets author Matt Phillips reports. Why it matters: Stocks that led the market for much of the past decade have fallen on hard times after surprisingly weak earnings from major tech companies. Meta's 75% collapse since its September 2021 peak has destroyed more than $800 billion in stock market wealth. Amazon shares collapsed after it, too, posted disappointing results — and a Q4 warning — at the close of trading Thursday. The other side: Twitter and Apple are exceptions to the rule. Elon Musk closed his deal to purchase Twitter at $54.20 per share. One source inside Twitter noted they wouldn't be surprised if Twitter's stock would have been trading at $15 sans the deal drama — a figure similar to some of its competitors like Snap and Pinterest, Axios' Sara Fischer and Dan Primack write. Apple announced earnings on Thursday that narrowly exceeded expectations and became an exception to the recent drop in some Big Tech stock prices. Zoom out: The tech stock collapse has drawn comparisons to the industry's last bubble, which burst in the early 2000s. The original dot-com bubble — which peaked in March 2000 — burst with a slow-moving crash that sank the S&P 500 by roughly 50%. (Article has stock price charts)
The tech-wrek is a good thing. Could you imagine how highly insane crypto would be right now without the market corrections bringing it down a few pegs? Also, we got to see a few big-boys who were swimming naked.
Value Investors RN Why you digging for INTC out of that garbage ? I've just thrown it here. it's a piece of junk. Has more DD than Returns. Why not look for the next leaders ? But it has value !!! I'll put it right next to CSCO
When he first went public with his offer, I didn't think it would ever close. I was 100% sure it wouldn't close lol. Musk tried all he could do to get out of the deal. But somehow Twitter's board turned out to be even more brilliant than I had at first assumed, and they trapped Musk into what is by any measure a terrible deal. How is Musk going to make his right-wing fan boys happy while at the same time maintaining a platform that will be able to attract advertisers? He isn't going to recover $44 Billion charging people $4.99/month for a stupid "edit" button.
It ain't what you buy, but how you buy it. It's all about creating aura of perception. In that regard, I think Musk did a brilliant job.
He paid $44 Billion for Twitter. Time will tell how brilliant, or not that deal was. Musk tried to kill the deal. I guarantee you he thinks he did not make a brilliant deal.
Seems defending free-speech was costly here to Musk. In any case, good luck to him. I keep thinking now to Barbarians at the Gate. I only just recently watched that film, and I did not quite enjoy it as much as I hoped. At least it was educational.
??? Musk tried to back out of the Deal. He then started trashing Twitter's reputation, saying it's full of Bots and the Management are liars etc. A court then forced him to follow through on the deal he didn't want. Hardly a P.R. bonanza for Twitter or Musk.