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OverlookedAlpha OP t1_ir7dwfy wrote

Reply to comment by possiblynotthefbi in [OC] Performance Of FAANG Stocks In 2022 (right click chart to turn off loop) by OverlookedAlpha

What are you referring to?

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possiblynotthefbi t1_ir7kdea wrote

Those companies have catered to the lgbt community despite Republicans stating they'd quit using their services if they continued... and it happened. Go woke, go broke is a literal concept, not just a dumb slogan.

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Me_Melissa t1_ira6rhs wrote

Is it possible that the stocks were overvalued in an environment where capital was borderline free, such that profits were unnecessary?

Is it possible that as interest rates started rising, bonds increased their attractiveness compared to equities, so seed capital became harder to get?

Is it possible that tech companies that have had stupid valuations compared to their earnings because they could just use equity to make money, now need to take on debt with rising interest rates, thus pushing their valuations to less stupid?

You know, do major economic events have impacts on markets? Or do people mad on Facebook determine the market?

You've got a case of confirmation bias that rivals my case of Dunning Krueger.

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