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Comment by aresant | Hacker News Reader

Lemonade and Agora's IPOs in the last two weeks both doubled right out of gate and have kept going (1)

Bankrupt HERTZ pumped 500%+ over a couple of weeks in June, to such a degree that their board nearly got a $500m unprecedented "worthless" equity offering out into the public market before the SEC shut them down. (2)

Tesla is trading at $1,400. Their latest competitor Nikola - who has no sales and no actual consumer product - was briefly worth more than ford (3)

I would assume that board rooms & investment bankers are SCRAMBLING to get their IPOs pushed out in Q3 or early Q4 2020.

In the meantime hold onto your hats, don't risk what you can't afford to lose :)

(1) https://www.cnbc.com/2020/06/18/bankrupt-hertz-terminates-co...

(2) https://techcrunch.com/2020/06/17/all-bets-are-off-as-hertz-...

(3) *Was for a minute - off to an $18b valuation vs $25b for ford today haha - https://www.fool.com/investing/2020/06/09/as-stock-price-mor...

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As my financial advisor from firm of WSB likes to say, “J Pow make money printer go brrrrrr”.

Honestly none of this makes any sense, record unemployment, skyrocketing covid cases, people trapped at home shopping groceries online. Yet $TSLA is at 1400, and to quote my advisor “is going to the moooon”.

Sigh.

It's all in interest rates. Far-future speculative cash flows become worth more when interest rates are slashed, and the fed's response to the whole coranavirus situation is to cut interest rates to zero.

Or maybe $1400 just isn't worth anywhere near as much as it was a year ago

It kind of makes sense, $2 trillion of the stimulus wound up in commercial banks' deposit slips because people who didn't lose their jobs had nowhere to spend it. It's not surprising to me that people saw the markets tank, remembered '08, and thought "let me put my dollars to work a little bit more."

Now Robinhood rolled out fractional shares and anyone can invest in anything. Chaos, in aggregate.

Or maybe bitcoin was never worth $17,000. Speculation is speculation. Stocks like tesla have such a retail following that they are no longer grounded in any fiscal reality. To properly invest in these stocks, one needs to find a financial advisor specializing in reading tea leaves.

Since it was 1,000 USD or so and was raising quickly in early 2017, I thought a good price for 1 BTC was a solid 10k USD. Happy with more, but w/ its current usage and interest, it seems to be the #

It’s actually a poorly done job by the bankers when stocks pop at ipo. Means their client left money on the table.

It also means that their real clients - IPO subscribers - got the stock at huge discount.

I suspect they are worried about Biden winning. A big part of their sales is from police forces for doing surveillance work.

Given the movement to cut back on police spending across states a Biden presidency would pretty much guarantee a massive cut in police related revenue.

Historically Biden has always voted for police spending. Hell, Kanye West has a better political record of ameliorating the incarceration industrial complex than Biden.

Don’t fight the fed.

Amen.

The trend is your friend until the end

Amen.

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