News hit about a half hour ago that PTON is in fact fucked.
Peloton To Halt Production Of Its Bikes, Treadmills As Demand Wanes $PTON
It's over
— The_Real_Fly (@The_Real_Fly) January 20, 2022
This also ravaged shares of AFRM now, as the Buy Now Pay Never schemers are closely tied and knitted to the testicles of Peloton.
It appears this news is NOT being digested well, as shares of PTON careen lower by 25%, vomiting onto the faces of the entire market. The NASDAQ really cleaved down a bit over the past hour and +170 is a nice gain — but we want more.
You might be asking yourselves “why the fuck does PTON affect the market?” Because retail, because it means GROWTH IS SLOWING. Maybe just maybe RECESSION LOOMS. All of these thoughts and much more are directly into the minds of managers now. Hence, you get a sell off.
We might recover from here and close near the highs. But rest assured, this is the first of many warnings to come and when they start to come in strongly — the market will then begin a process of really taking down multiples.
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All companies have Fed created pixie dust multiples.
Market selling all pops still.
Margin clerks wheeling out the dick guillotines while whistling ‘let’s go Brandon!’…
Wow…been out troubleshooting some code all afternoon. Just got back to the market.
Holy fuck, bulls are fucked…
I had just taken it for granted they’d be able to hold some sort of bounce for one day at least. Look on the bright side guys; you’re gonna be left holding so many bags, at least one of them should be of suitable grade of plastic to suffocate yourselves with after you’re bankrupt.
The big problem bulls have here is again commodities. They’re pretty mixed today. Some red, some green. Nothing screams deflation.
Energy is all down, but…not really. Holding up pretty well big picture.
The only exceptions really are natural gas and lumber. But those are just two items; are they leading indicators l, or just some weird shit that happened?
If they aren’t leading commodities lower, you have aajor problem on your hands if you’re long here.