Is BITCOIN the reason why all tech companies showing fall in share price ?

Amazon / Eng vhBf25
Nov 29, 2017 74 Comments

Is Bitcoin the reason for all the tech companies showing fall in shares price ?Facebook, Google, Alibaba, Nvidia, Amazon. I can understand Amazon showing fall as the holiday season ended but what about the rest. Nvidia was targeting $250 and it has fallen to $197. Or is it just that they were all over valued?

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TOP 74 Comments
  • SAP Yippi
    The market has bad days.. it’ll bounce back.
    Nov 29, 2017 15
    • Facebook / Eng daily
      Yup can't wait for this rebound. I always wait til clueless engineers on blind talk about how fast tech stock will burst/fall before I go on a buying frenzy.
      Nov 29, 2017
    • Nvidia VoltaNV
      All the answers are in the Yahoo finance boards.
      Nov 29, 2017
    • Microsoft AchieveMo
      If you think you know what causes stock prices to go up and down, you are an idiot. If you actually know, then you must be a billionaire. Socks, like everything else, sell for what people are willing to buy and sell then for. That's it. It is an impossibly complex equation of a million variables that cause people, companies, and funds to decide to buy or sell for varied reasons.
      Nov 30, 2017
    • Facebook 🐢🐙🐷!
      ^ no. Of course we don’t know whether they’re going to go up or down in THE FUTURE (otherwise we’d be fools not to be rich).

      But it’s easy to explain in hindsight why something happened in THE PAST. This is because past events happened due to people acting a certain way. And you can just ask them why they did what they did to get to ground truth. That’s what the business of NEWS is all about FYI. There’s even a whole category of BUSINESS NEWS devoted to reporting why big traders are trading the way they are and interviewing them.
      Nov 30, 2017
    • Microsoft AchieveMo
      How does that help you? Ok, I sold some FB stock earlier this week to buy a jet ski. This info is meaningless for evaluating the stock.
      Nov 30, 2017
  • Nvidia KxUj1k
    1) Tech pullback is healthy. Don't assume things will always go up. A 3-5% correction should always be expected.
    2) tax bill in debate and the new fed chair benefits domestic-focused companies and financials, respectively, but doesn't do much for the other sectors. So you can see that in the lack of loss in the DOW/S&P that you see in tech.
    3) your assumption that $AMZN is down because holiday season has ended is ?????? That's not how to stock market works. The holiday season numbers haven't even come out. Now through Dec 26th will define the holiday season numbers, not just BFD or CyberMonday. Please be careful with this type of "timed investments". You can't time the market, just like Warren buffet can't.
    Nov 29, 2017 6
    • Microsoft 🔵Cortana
      Short term is not investing, it’s gambling.
      Nov 29, 2017
    • Amazon / Eng vhBf25
      OP
      So the general statement of keeping a diverse fortfolio for a longer duration is the key?
      Nov 29, 2017
    • Nvidia KxUj1k
      How much time do you have actively managing your portfolio?
      Nov 29, 2017
    • Amazon / Eng vhBf25
      OP
      Perhaps not long enough. And that's exactly the reason why I would like to understand why this happened so that I can learn from the mistake.
      Nov 29, 2017
    • Facebook / Eng daily
      Don't see it as a mistake. In fact don't even look at prices more then once a month. There is no way you can never lose but long term gains will always cover them.
      Nov 29, 2017
  • Oracle messup
    Just a small correction
    Nov 29, 2017 5
    • Oracle messup
      Well, look at PE ratio, interest rate, etc. stocks are always overpriced these days and correction is normal. Reason? Hedge fund profit taking, portfolio rebalancing. I have seen this so many times since I knew stock market. Panic people like you are who drive market crash, not any data.
      Nov 29, 2017
    • Amazon hUlak
      Could be that they were overbought without any data backing up that decision, and now people are taking profit from that mispricing.

      Really, it could be anything which set off some algorithmic selling. Trying to figure out what caused these day-to-day movements isn’t productive. If there’s an unexpectedly large movement, then maybe it’s time to re-evaluate your thesis and see why it is the market disagrees with you.
      Nov 29, 2017
    • Facebook >🐜 🐶 <
      Don’t speculate from your asses lol.

      Investors have realized their profits and moved their money to banking stocks from tech. GDP growth in Q4 was 3.3% compared to expected 3%, which has triggered this. Also if tax reform bill doesn’t pass, non-tech stocks will be less impacted. So it’s safer to move money out of tech stocks now.

      Read http://www.nasdaq.com/article/nasdaq-drops-as-tech-sector-sells-off-dow-hits-new-record-cm884301/amp
      Nov 29, 2017
    • Facebook eqBj37
      There is no data for it to go up, why do you need data for it to go down. It's all speculation.
      Nov 30, 2017
  • Facebook public
    This is the best. It's going to be so fun when we next get a 40 to 50% drop. Most of you kids have yet to meet the bear.
    Nov 29, 2017 2
    • Facebook public
      True then, true now :)
      Nov 30, 2017
  • Nordstrom peaches3
    What kind of idiotic question is this?
    Nov 29, 2017 0
  • Microsoft maverickk
    Be patient, it'll come back. It always does.
    Nov 29, 2017 0
  • Salesforce notbenioff
    Leetcode is the reason
    Nov 30, 2017 1
    • Yahoo anonhoo
      Blind is now Reddit levels of meta?
      Nov 30, 2017
  • Google hmm_okay
    Shit is way overvalued. The Bitcoin craze is just more evidence of the levels of irrational exuberance.
    Nov 29, 2017 0
  • Amazon / Eng MisterCuck
    No don’t be stupid
    Nov 29, 2017 0
  • Amazon / Eng
    Hooliganss

    Amazon Eng

    BIO
    Engineer at AWS
    Hooliganssmore
    Bitcoin has no bearing on how most tech companies do.
    Nov 29, 2017 0
  • Amazon / Eng ᕕ( ᐛ )ᕗ
    Why would AMZN fall because the holiday season ended?
    Nov 29, 2017 0
  • Microsoft aichatbot
    I would suggest finding a good financial advisor. Mine for example sends an email explaining when major stock events happen, and I can pick up the phone and email to get a question answered.
    Nov 30, 2017 2
    • Coursera / Other Wtlg
      You’re paying him to explain the news after the fact?

      Anyone can come up with a reason why something happened. Anyone can also come up with a million reasons why they predict something else will happen. They’re revered when they’re right, and when they’re wrong, people forget.

      You should fire your financial advisor. Financial advisors are nothing but scammers.
      Nov 30, 2017
    • Microsoft aichatbot
      Everyone is entitled to an opinion, and I'll continue to keep mine because he makes me more return per yr and tells me when to sell. Have a great Friday!
      Dec 1, 2017
  • CareerBuilder hdTI13
    Yeah, it's totally bitcoin's fault. Or it could just be random fluctuations.
    Nov 29, 2017 1
    • Amazon / Eng vhBf25
      OP
      But why will it only affect tech stocks and not just smaller players all the heavyweights took a hit.
      Nov 29, 2017
  • Microsoft Macaroni
    Less than 10% correction lol. It looks like op only started investing in past 2 yrs
    Nov 30, 2017 0
  • Sony vGzW82
    Nobody cares about bitcoin
    Nov 29, 2017 9
    • Facebook public
      He doesn't have nearly enough money...
      Nov 30, 2017
    • Medallia anjyuxQ2w7
      Huh? Hasn't he crossed 100b line recently?
      Nov 30, 2017
    • Facebook public
      Yep, and btc alone would cost about 170b to purchase. The crypto market is hundreds of billions of dollars.
      Nov 30, 2017
    • Sony vGzW82
      actually crypto is not worth anything
      Nov 30, 2017
    • Facebook public
      How do you figure? (Hint: pause to consider fiat and gold before you answer)
      Nov 30, 2017
  • Bitcoin is stupid
    Nov 29, 2017 1
    • Microsoft maverickk
      Jealous that you missed out on the bull run?
      Nov 29, 2017
  • Google HEhxw37
    1. It’s a normal cycle. Markets go up and down. If they wouldn’t, then everyone should buy a stock and don’t work as you get free money.

    2. Now to your question: Bitcoin would not hit tech stock that much as (1) it has a high cost of entry ~10k and not many people know how to trade it (and you need a large pile of money to cause 5-10% decrease. (2) tech industry had a great year and some investors locking in on a profit by selling some of their shares at all time highs for most companies. (3) Due to outperforming ROI, tech stocks are considered a little more volatile. Therefore you can expect to see such jumps and falls in this sector (ex: see Sep 25, 2017 stock prices)
    Nov 29, 2017 1
    • Twitch 3vXfq
      You can buy fraction of bitcoin as well on coinbase... Bit coin does not have high cost of entry.. anyone with even $100 savings can buy Bitcoin..
      Nov 29, 2017
  • Google IijR85
    The tech shares falling is why bitcoin fell.
    Nov 29, 2017 1
    • Best Buy / Ops Moistedl
      No, bitcoin fell because someone shorted 1800btc at market price. And it was overvalued.
      Nov 29, 2017
  • Microsoft / Product bought
    No
    Nov 29, 2017 0
  • Google evVO74
    Lololol hehehe
    Nov 29, 2017 0