The last 6 months stocks have sold off and most attributed it to a temporary condition thanks to the war and inflation. Stocks like SHOP were junked, down 70% from its highs. I did warn you they haven’t even missed or warned yet; but that changed today.
Big shortfalls out of W, ETSY, and SHOP and it’s only the beginning of recession trading, an era where almost all companies miss earnings because we are in a fucking recession.
I got caught up in an earnings miss this morning in seemingly recession proof stock CAH. Apparently they just blew it.
Early going stocks are selling off, with the NASDAQ -300. We can only pray and hope for extreme pain and suffering for the permanent bools.
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I’m going to dust off my Dow 10,000 hat.