If any of you out there happens to know someone who actually understands the American stock markets, please let me know. Today’s quick little blurb is about how one company, SNAP, can have a bad quarter and it, allegedly, scares the entire major markets.
Snap is/was a FAD. Teens loved it because you could make and pass around videos of stuff of little interest or value to other 15-year-olds.
Now the 15-year-olds have moved on to whatever the latest “cool” App-FAD might be, leaving SNAP at a per/share value less than its Initial Public Offering price in 2017.
And this is the seminal event which sent the 4 major markets crashing?
Here’s a historical fact which will shed some light on how bad the stock markets can get and for how long ……
On Dec. 31 1965 on Dow Jones average was $969.
It took 17 years, to the day, for the DOW to exceed that number at $1046 without falling back.
The low in that 17-year span was $632 – a drop from 1965 of 35%.
Fast forward to 2022 – the DOW peaked at $36780 then hit it’s low of $29889, a drop of 32%.
Anyone who is counting on a full recovery to January of 2022 needs to check the records.
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