Nvidia Stock Crashes 17%, Wiping Out $600 Billion in a Single Day
Nvidia Stock Crashes 17%, Wiping Out $600 Billion in a Single Day
uk.finance.yahoo.com
Nvidia Stock Crashes 17%, Wiping Out $600 Billion in a Single Day
21 comments
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Oh noes! 600 billion fluffybucks that only ever existed in the feverish fantasies of stock market analysts! Oh the humanity!
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Meh, this is how Tech has always worked. The list of companies that foresaw endless growth due to a temporary market advantage is long. As an example ask Intel how their DRAM production is looking these days. They were dominating the market with it in early 70s but by the early 80s they'd been entirely supplanted. Anybody still buying new ZIP drives? How much market relevance does MySpace or Napster have these days?
This particular stock "crash" is really just an investor driven blip that Nvidia will quickly put in its rearview mirror but its a signal flare that the AI Market in general and the GPU market in particular is ripe and waiting for disruption. That disruption is coming and it will arrive quicker than most realize.
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They are already roughly half way back.
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It's okay, it's only pretend money.
21 comments
The thing about market cap is that it's kinda not real. You think Rivian was ever worth 130 billion dollars, for example? Nah.
Nvidia has only lost about the last three months of stock gains. It's quite bad, and they'll cry, but they'll be fine in the long term.
"Long term? But I want all the money now!"
This is such a concise and accurate description of everything that's wrong with corporations.
They really need to change how market cap is calculated. Even a linear function going to zero as the last share is sold would be better. I wonder.
I think it would make more sense to have good journalism and honest coverage of markets, and an informed, financially literate populace. While I'm at it I want a pony who cleans the dishes and shits sunglasses.
Well yeah. The market cap is all the stock x the current market price. But if even a few % of people sell then the price will drop. You can never sell everything at the top price.
It's up 5% in premarket right now, so... We will see how long they stay down.
Pretty typical that the only ones to suffer any lasting harm will be the longs and shorts who weren't first to act.