Is this crazy to anyone else?
The Nasdaq made new all time highs today
Don't worry about a global pandemic or an economy that is in the dumps.
Heck, don't even worry about massive protests and a more divided country than we have seen in 50 years.
Nope, don't worry about anything.
The Nasdaq sure doesn't:
(Source: https://www.tradingview.com/symbols/NASDAQ-NDX/)
It made new highs today and has basically done a V shaped recover off of the lows.
It sure doesn't make a lot of sense.
Could be a great spot to get short if we are going to see another downturn due to the pandemic.
Or, maybe we won't be seeing that happen.
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Out of all the sectors that can be effected by the shutdown it seems tech is the one that can mostly benefit from it. Remote telecommunication, data centers, internet infrastructure, and shop at home services just to name a few. If people had to buy for the sake of buying tech is the industry to get into it. I do agree evaluations compare to reality is fairly distorted but right now it is what it is.
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Except for those 40 million people out of work who won't be able to pay for services
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Not until unemployment runs out end of July.
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Think tech still boom as those unemployed will find ways to start new businesses or do side hustles that require tech infrastructure such as AWS, Azure, or what every BABA's data center system is called. Most of these high growth companies are back by the key components for next transition of job creation. The digital age will transform right before our eyes.
What America faces is the oppression of entrepreneurship. Other countries have accepted tech by adopting by giving new startups incentives to succeed. While US is consolidating small businesses and independent thinking into big box retail and tech juggernauts. Its a double edge sword here, we want America to prosper but it seems the only way to do so is FANG must survive and lead the next generation of wealth growth. Not many may have the opportunity have access to these resources as its a whole different set of skills from what we consider now as white collar work.
That is a good point. Amazon and Netflix for example are seeing a booming business. As are a couple other big tech companies.
Party like it’s 1929!
They should invest in crypto instead. Hard times are coming :(
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