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The market in recent days has been, for me, uninspiring. I’m far more engaged with my novel-writing than I am these exasperating financial markets, but the show must go on – – – so I went through my entire watch list of futures and have plucked out the charts I found at least a little interesting. I’ve watermarked them with descriptions so you know what’s what:
Far and away the biggest financial story on Tuesday afternoon is the wipeout in Netflix (NFLX) shares. The stock had already lost an eye-watering 50% of its value in half a year’s time, but it wasn’t finished crashing. The stock is down another 25% after hours.
I vaguely remembered that during last quarter, NFLX also got hit hard, and that Bill Ackman had acquired a huge stake in it since it was “on sale“. I did a little digging, and my brain didn’t lie to me:
If you want to see how meandering, directionless, and trendless this calendar year has been thus far, I present to you the percentage charts YTD of a variety of major indexes. Pretty sad stuff, folks!
This afternoon, the main earnings event is going to be Netflix (yes, IBM will announce too, but their chart is ungodly boring). Here’s how NFLX is doing, which has been pretty wretched (over a 50% drop in just half a year!)
Maybe now that the mask mandate has been blown to smithereens, we can all stop fighting with each other seven miles above the sky.
