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It’s happening. Just look under the surface. Look past AAPL and NVDA. Look at the market as a whole, particularly the meme favorites from the 19-year old “traders” that loiter on /WSB. These stocks, in a rational market, would all be valued at $0.00. But even in this laughably fake market, they are suffering, and gravity’s pull will continue to yank them down toward their honest value.

slopechart BMBL
slopechart CLOV
slopechart CRON
slopechart HOOD
slopechart LMND
slopechart WISH

In the course of doing so, I imagine countless of these aforementioned wanna-be traders are going to get wiped out, even to the point of personal bankruptcy. They have been seduced by the ostensibly easy money that the market is desperate to hand over to them, and this remark from this morning is a grain of sand on that gigantic beach of young men who are going to realize, in the end, they’ve been hoodwinked, snookered, and fleeced.