The stock market has been going DAHN lately. In fact, the Nasdaq had it steepest weekly drop since the beginning of COVID in 2020, down a whopping 7.6%.
Tech companies aren’t doing so hot either. Netflix dropped more than it has in an entire decade. Yikes!
Peloton is down as well (while the product is cool wouldn’t lessening demand be expected? As the world slowly returns to normal won't people elect to go back to their gyms instead of staying home with their annoying families telling themselves they'll use their Peloton?).
Cloud computing companies are also taking a hit. This CNBC article linked below states that the “Work From Home” theme that has been driving these stocks for the last two years is dwindling recently. Understood... but at the same time... I really do think the traditional workplace has changed forever. Working from home is now an acceptable thing in America. It cuts expenses for you and your company and offers incredible flexibility. For tech developers of applications and various software geared towards make working from home run more swiftly, I believe there is still a huge entrepreneurial opportunity here.
I know nothing about the stock market. But with so many tech-related companies taking hits at the moment it may not be the worst idea to invest in the companies you deem potential big-time players. DISCLAIMER: This is not investment advice.
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