Is BITCOIN the reason why all tech companies showing fall in share price ?
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?
Just a small correction
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.
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.
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.
Yeah, it's totally bitcoin's fault. Or it could just be random fluctuations.
But why will it only affect tech stocks and not just smaller players all the heavyweights took a hit.
Why would AMZN fall because the holiday season ended?
Sector rotation. $$ moving out of tech to retail/ banks. Smart $$ will come back to tech later.
Be patient, it'll come back. It always does.
Could be a bunch of factors. The markets have done exceptionally well this year so there's some tendency to take profit or rebalance especially before the year end. Something extra for Christmas shopping for individual investors. I bet amzn will have a pretty good quarter due to higher than normal thanksgiving spending and that will likely mean higher than normal Christmas shipping.
North Korea
The market has bad days.. it’ll bounce back.
I'm just trying to guage what could have triggered such a massive fall
It can also be the korean guy’s missiles. It happens all the time.