TWTR is down more than 15%! today because its lock up period expired. If that makes sense to you, well then, you are a very intelligent martian–because you’re not from this planet. Stocks don’t trade down 15% because their respective lock up periods expire. That’s patently absurd. This isn’t an illiquid stock or even an up stock for that matter. Quite frankly, the computers have gone mad, selling everything remotely related to high multiple technology–grinding them into the ether.
Look at CRTO. The computers must be confused with this one, trading at a touch over 3x sales. They just smashed earnings and guided higher with a BIG beat on the top line. Early going, the stock had climbed 10%. Now it’s down 5% and rapidly taking on water.
Inside of The PPT, I built a bubble basket of my own. It’s down 3% for the day, led by losers such as FLDM, TWTR, YELP, ATHM, FEYE, PLUG, RUBI, MKTO, ECOM etc. It’s just more of the same, relentless selling into a black sea of uncertainty.
This is what I do know, however: these stocks are the plague. They should be avoided at all times. In the case of CRTO, I insist this isn’t a bubble stock and its shares should rebound shortly. As for everything else, falling by the wayside, I offer you a eulogy in 140 characters:
The bubble was great fun. It was invigorating and we all got to experience the essence of youth, to be gratuitously rich, careless–perfect.
-Fly, May, 2014
UPDATE: David Einhorn’s short ATHN to single digits presentation from yesterday.
The Day the Nerds Died
lol
http://www.youtube.com/watch?v=l8Jud-6yXHM
Since we now have to log on for comments, how about an edit button?
A game. Edit buttons are for lesser blogs.
If he can write whole blog posts or rants without proof reading or editing we should be able to manage in the comments
What a farce; Twitter and Yelp will both be bought by FB and/or GOOG, respectively. You dollar cost down on days like this in long term accounts. Anything less would be uncivilized.
Agreed. This looks like a shakeout. Since there are a lot of shares available now, why not scare the muppets into selling into stronger hands.
the plague stocks are like the walking dead. kind of like the show, it’s only a matter of time before the safe haven stocks also get infected. this is turning into a freak show.
THUMBS UP!! DIE TWTR DIE!!
CRTO only trades at a P/E of 1,116.24….seems like a decent value i guess
is twitter’s death is the proverbial canary in the coal mine, for this market ?
A bit of a blast from the past here, but what do you think about FRO?
TWTR YELP died today and so did I…
Stop thinking this is a shakeout. This is death
Man, this shit is nasty. I know it was painful, but I’m glad you’re out of the horsemen, at least for now.
Fly, you really wouldn’t buy YELP after today’s draw down? This is a good company with a good business model. Do you think the lawsuits have anything to do with this?
Not usually a doomsayer but I doubt there will be much if any retracement tomorrow. I feel $SPX heading for 1850 before we get good resistance.
You’re predicting YELP is going to a BK filing?
Sorry, I must have stepped on it.
lol, poor birdie. Can you please step on AAPL and AA too.
time will come dear… I have not been trading so many inverses in the past 3 weeks since 2008 :).. every bubble has it’s life span
I wish one day I will have your wisdom and insight into the Life Span of Bubbles, Mr. P. 🙂 .. I would have killed Mr. Bubble 5 years ago in his Crib, lol.
TWTR hits $100 by the end of 2015.
is that actually the ATHN ceo or something!? or is that a joke?
That’s him
wow … Einhorn, Ackman, Chanos , etc, could never present a more convincing short thesis than that !
To quote Michael Stipe – It’s the end of the world and I feel fine.
Holy shit that ATHN chart is fugly!
Billy Bush of Access Hollywood is the brother of the CEO… that says it all.
That ATHN is a fucking huckster. Fly save the links to the videos, I can’t find them on Youtube. We will all watch these a couple years from now when dotcom bubble 2.0 is done crashing and burning.
should read “That ATHN CEO”
Suck-it XLF
(and twtr)
I like that guy! I may need to buy ATHN just on that merit alone.
looks like John Sebushton there towards the end
This is a company I certainly know little about, but had I seen the video of the dude wearing the blue shades, I’d have shorted based on that alone. What a fucking idiot to be the public face of a company.