NASDAQ dropped nearly 1,000 points today
A move of around 3%
Some traders made a fortune
Others learned painful lessons
The market doesn't care about opinions
It rewards discipline and punishes poor risk management
Days like this remind us that survival comes before profits.
SpaceX IPO today
Biggest public offering in history
More than 4 times oversubscribed
Apple went public at sub-$2B (15X revenue)
SpaceX is going public at almost $2T (100X revenue)
This is the ultimate late stage cycle indicator
The tech bubble is getting ready to burst