Overvalued IPO’s, Tech and Growth Stocks Are Getting Crushed Today.

The Dow Jones is green, but for some reason many of the overvalued growth stocks — CRWD, WORK, TWLO, FSLY, SNAP, OKTA, AYX, TNDM, ARWR, ZM, PAYC, PINS, HUBS, SE – are getting CRUSHED.

As of 1:20pm the Dow is up 12 points on 135,769,273 shares.

CNBC: “Google faces a new antitrust probe by 50 attorneys general”

3:21pm, Dow up 44 points, Nasdaq down 22 points. Feels odd because all these growth stocks are getting hammered. Feels like the market should be down 200 points. Roku is also down 5% nearing the end of the day. AVLR, a stock that seemed impenetrable, is also down.

Mnuchin confirms that Fannie Mae and Freddie Mac could go private, Yahoo Finance They are up as much as 50% today

Reuters front page archived: https://web.archive.org/web/20190909193920/https://www.reuters.com/

Largest borrow rates increase with many well known names, thefly.com reports

“Qatar Shortlists Oil Majors For LNG Expansion Project”, Oilprice.com reports

RAD closed up 15%. No apparent news

S&P closes literally flat. Oil finishes up 2.5%

Fred’s files for bankruptcy, finishes down 50%. Read more

 

 

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