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Comment by psyc | Hacker News Reader

How are they getting 40%?

    (2999 - 2161) / 2161 = 38.8%

That's the how, but it's obviously the wrong way to calculate a decline in value.

You get about 40% if you divide the fall in the price by the current price. Is there some weird convention in finance to do it that way?

It's ridiculous... if it had dropped from $3,000 to $1,000, would that be called a 200% drop?!

>Is there some weird convention in finance to do it that way?

Nope, it's a convention in journalism.