Feb 3rd 2022. Facebook stock’s 26% drop sets a new record for sharpest drop of a stock in a one-day time period. This erased $232 billion dollars from the company. The fall would later extend to a 32.6% drop in the month of February.
Apr 19th 2022. Netflix erases 35% in a single day. This wiped our $54 billion dollars in Netflix’s worst day ever.
Both of these events have come as a surprise to stocks that are supposed blue chips.
Meta’s fall has been attributed to weak earnings. And Netflix’s plunge to losing 200k subscribers, with an anticipation of losing 2 million more subscribers.
Now, crypto has a reputation for big swings like this. And most are rightfully afraid to tread in the waters because of it.
Stocks were supposed to be the safe, conservative alternative where you can invest in some nice boomer stocks and hope to grow 2-5% over time.
But that perception has been shattered. If there’s one thing 2022 has shown is that no stock is safe. Not even blue chips.
Facebook collapsed. Netflix collapsed. Who’s next? Tesla, Google, who’s the next blue chip to fall?
Crypto seems like the safer investment these days.
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