Seems like most tech stocks, fintechs, new IPOs are being obliterated left and right. Crypto or anything to do with crypto are purposely targeted.
SOFI 5.74
BYND 15.97
RIVN 14.63
RKLB 3.67
LYFT 9.38
COIN 60.78
HOOD 9.75
They're not like dotcom companies that does nothing. They provide services, make stuff and some of them are high tech products not easily made elsewhere. Are big financial institution just dumping these and pouring their money into blue chip companies on the Dow Jones and in the process obliterating these companies? I cannot see high tech companies surviving at this rate and hedge funds have to be losing tons of money on these as well. How much longer before tech hedge funds go belly up like Silicon Valley Bank?
It just screams disastrous train wreck by the Feds. They haven't brought down inflation and now killed assets.
Anybody out there have encouraging insights?
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