4/10/2023 0 Comments Empire market linkIt now promises to hold them at high levels for a long while - making a recession more likely.Īs long as these austere conditions persist, the stock market is likely to have far less appetite than it did just a year ago for entrepreneurial visions with long incubation periods. The Federal Reserve isn’t merely raising interest rates. Investments that looked splendid when cash was cheap have lost much of their allure. Meta’s problems are idiosyncratic, yet they are also a cautionary tale, one with application to investing in just about all tech companies in an era of raging inflation, rising interest rates and plunging asset prices. Worth $1 trillion only a year ago, the company has lost nearly three-quarters of its stock market value. Its earnings have shriveled, and it has begun laying off workers. And when the mood changes, as it has this year, the brutality of the stock market goes on spectacular display.Ĭonsider what has happened to Meta, the company formerly known as Facebook, the archetypal social network. The stock market adores high-growth tech companies - until it suddenly doesn’t.
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