Monday, August 8, 2022 5:07 PM EST
Over the years, I've posted numerous articles on equity bubbles bursting, at this link.
I can add another one to the list...Japanese SoftBank Group Corp. (SFTBY).
Source: Wikipedia
As shown on the following monthly chart, SFTBY hit its all-time high of 50.00 in February of 2021 and began its plunge the next month. It lost over 60% of its value by May 2022.
There has been no sustained advancement above its near-term support at 16.00 since its IPO in 2010.
Failure to hold above 16.00 could see it plummet in short order to 10.00, or lower.
SoftBank's reckless business investment risks and failures are described in the following article...
Source: ZeroHedge
Bubbles are meant for baths!
More By This Author:
MSCI World Index In FreefallEmerging Markets ETF: EEM In Freefall Cathie Who?
Disclaimer: All of my posts (and charts) contain solely my own technical analyses/opinions/observations (which may contain errors or omissions) of a variety of markets and are ...
more
Disclaimer: All of my posts (and charts) contain solely my own technical analyses/opinions/observations (which may contain errors or omissions) of a variety of markets and are provided for your information or entertainment only...none of it may be construed as financial or trading advice. I trade my personal account only...I do not manage a fund for other people. Please do your own "due diligence" before engaging in any trading activity.
No part of my Blog may be reproduced or copied and presented as your own material.
It is the sole property of StrawberryBlondesMarketSummary.com. The sharing of my posts, is, however, permitted, as long as the appropriate credit is duly given, and as long as they remain unaltered/unedited. To share them, however, does not mean that I endorse you or the site at which you choose to share my information (although, no doubt, your intentions are honourable).
less
How did you like this article? Let us know so we can better customize your reading experience.