Just thought it was interesting that at it's peak the NASDAQ100 was up more than 7,000 points from pre-COVID levels and as of today it has lost over 3,500 of those points.
Many tech stocks are also trading way below their pre-pandemic valuations. PYPL specifically is now trading at early 2018 levels and valued at less than $100b which seems insane given how strong their growth has been in recent years.
How low do you think we will go from here? The close today felt a lot like capitulation, but with so many headwinds my guess is that any bounce will be short-lived.
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