Stonks mania!
The NASDAQ is now up by more than 50 per cent since March.
The tech- and internet-heavy index is also up by around +138 per cent since February 2016, despite the recent mammoth pain for the economy and earnings:
Amazon has blazed through $3,000, up from $1,785 in March, taking the market cap to well beyond US$1.5 trillion.
Tesla is through $1,300 for a market cap of more than US$240 billion (which is more than the mighty Toyota and GM combined).
In Australia every man and his dog is talking about 'investing' in Mesoblast, or Afterpay (which has 5-bagged since March and where the founders have 'agreed to' sell down their stock during the current capital raising...lol):
Sometimes bubbles are hard to spot, but not so much this time, with Robinhood traders and other new market entrants speculating on a raft of stock tickers with no regard for the valuations of the underlying businesses.
Sometimes bubbles are hard to spot, but not so much this time, with Robinhood traders and other new market entrants speculating on a raft of stock tickers with no regard for the valuations of the underlying businesses.
We all know how this ends, the big question is...when?
