Institutional investors are shorting the fuck out of the market, and have been since last year
Eh. I remember the mad rush to short Tesla for the better part of a decade. It consistently ended in tears.
This is a small sell-off relative to the last five years of gains. And if there's been a wave of shorts pushing down on the price, you'd never know it by the P/E ratios still well north of 20, particularly in the tech sector.
If anything, the problem has been how absurdly bullish the market's been, with no corresponding uptick in consumption or improvement in quality of life. Just America's fifty richest guys selling each other Apes at increasingly inflated prices, even above and beyond the historically speculative yield, until the Fed ratchets down the money printer by a degree and Apes aren't selling for 1000x their face value anymore.
Eh. I remember the mad rush to short Tesla for the better part of a decade. It consistently ended in tears.
This is a small sell-off relative to the last five years of gains. And if there's been a wave of shorts pushing down on the price, you'd never know it by the P/E ratios still well north of 20, particularly in the tech sector.
If anything, the problem has been how absurdly bullish the market's been, with no corresponding uptick in consumption or improvement in quality of life. Just America's fifty richest guys selling each other Apes at increasingly inflated prices, even above and beyond the historically speculative yield, until the Fed ratchets down the money printer by a degree and Apes aren't selling for 1000x their face value anymore.