It’s a strange world where 3 to 11% growth possibly resulting in $29 billion in revenue is a “disappointment” and causes a stock to plunge. That’s as much revenue as the entire movie industry, and the revenue is still climbing. Too much emotion in the market.
“””It’s a strange world where 3 to 11% growth possibly resulting in $29 billion in revenue is a “disappointment” and causes a stock to plunge.””””
Not strange at all. Facebook share price is based on revenue and profits continuing to rise exponentially.
When a slowdown in future revenue and profits is indicated, these high flyers run out of hot air.
As one institutional investor who specializes in tech stocks said on a radio show a few years ago: "I don't want to own shares in any company that is built on a concept that can be duplicated by a group of smart people working in a garage over a long holiday weekend."
I am seeing stuff about sales of Virtual Land and Metaverse Land at prices that are quoted in various cryptocurrencies (e.g., Etherium, MANA).
“some companies believe that much of retail will eventually happen within the metaverse.”
Now, I am not the smartest guy I know; but neither am I the stupidest person on my block.
I wish I knew how to bet against this stuff, because I don’t see how it can be worth the values currently ascribed to it. How is there anything of substance here?
Should I keep asking questions until it makes sense? I don’t even know what question/s to ask.
And, “The term metaverse is used to describe the evolution of human’s interaction with the internet. As we spend more and more of our time on the internet, the gap between the real world and our online identities declines. Eventually, the metaverse is intended to be an immersive virtual world where people enjoy digital ownership and can interact with their peers.”