4 ms·

Losing over $60 billion in valuation is an impressive feat, makes me wonder if that’s a record or something?

seanhunter 4y ago
Masa Son lost $70bn in a single day during the dotcom bubble, which I believe was a record until recently when some crypto guy lost more.
umeshunni 4y ago
Not by a long shot: https://www.cnbc.com/2022/02/03/facebooks-232billion-drop-in-value-sets-all-time-record.html https://www.cnbc.com/2022/02/03/facebooks-232billion-drop-in...
- loceng 4y ago
  If looking at % of the whole, and not the amount, Coinbase looks to be the winner here? https://companiesmarketcap.com/coinbase/marketcap/ https://companiesmarketcap.com/coinbase/marketcap/ https://companiesmarketcap.com/facebook/marketcap/ https://companiesmarketcap.com/facebook/marketcap/
  - throwk8s 4y ago
    If looking at percentage of the whole, there are a lot of companies tied for the "win" at ~100%.
    - CydeWeys 4y ago
      Oh there's plenty of companies that have lost more than 100% of their value. If you go from a positive value to a negative value (e.g. you have outstanding liabilities that cannot be discharged), that's a >100% reduction in value. One good example would be old mining companies that went bankrupt. Their value cratered to zero, AND now the corporate overlords that ended up acquiring them are spending neverending millions of dollars spent to clean up Superfund sites decade after decade. There are some liabilities that simply cannot be discharged.
      - joebob42 4y ago
        Why did anyone acquire them then?
        CydeWeys 4y ago
        Because people make mistakes, the true value of a company is often not known anyway, etc. You may as well ask why someone buys a stock that then goes down. You didn't think it would go down when you bought it, obviously, but you were wrong.
  - tyrfing 4y ago
    It's pretty similar to other big 2021 IPOs. Rivian, Robinhood, UIPath, etc. The ones doing well are only down 50-60%. Now, these companies have pretty good access to capital, and retail getting ripped off is no problem. The interesting part of this glacier is the pre-IPO ecosystem that is bleeding money and trying to avoid similar markdowns.
optimiz3 4y ago
Rookie numbers. TSLA moves this much every other week.
- loceng 4y ago
  Look at the % change compared to the total market cap.. https://companiesmarketcap.com/tesla/marketcap/ https://companiesmarketcap.com/tesla/marketcap/ https://companiesmarketcap.com/facebook/marketcap/ https://companiesmarketcap.com/facebook/marketcap/ https://companiesmarketcap.com/coinbase/marketcap/ https://companiesmarketcap.com/coinbase/marketcap/ Coinbase seems to still be the "winner" here.
  - wutbrodo 4y ago
    Percent change doesn't make sense either. Plenty of companies have lost a much higher percentage in the time period.
baby 4y ago
Dfinity

Masa Son lost $70bn in a single day during the dotcom bubble, which I believe was a record until recently when some crypto guy lost more.

umeshunni 4y ago

Not by a long shot: https://www.cnbc.com/2022/02/03/facebooks-232billion-drop-in-value-sets-all-time-record.html https://www.cnbc.com/2022/02/03/facebooks-232billion-drop-in...

loceng 4y ago
If looking at % of the whole, and not the amount, Coinbase looks to be the winner here? https://companiesmarketcap.com/coinbase/marketcap/ https://companiesmarketcap.com/coinbase/marketcap/ https://companiesmarketcap.com/facebook/marketcap/ https://companiesmarketcap.com/facebook/marketcap/
- throwk8s 4y ago
  If looking at percentage of the whole, there are a lot of companies tied for the "win" at ~100%.
  - CydeWeys 4y ago
    Oh there's plenty of companies that have lost more than 100% of their value. If you go from a positive value to a negative value (e.g. you have outstanding liabilities that cannot be discharged), that's a >100% reduction in value. One good example would be old mining companies that went bankrupt. Their value cratered to zero, AND now the corporate overlords that ended up acquiring them are spending neverending millions of dollars spent to clean up Superfund sites decade after decade. There are some liabilities that simply cannot be discharged.
    - joebob42 4y ago
      Why did anyone acquire them then?
      - CydeWeys 4y ago
        Because people make mistakes, the true value of a company is often not known anyway, etc. You may as well ask why someone buys a stock that then goes down. You didn't think it would go down when you bought it, obviously, but you were wrong.
- tyrfing 4y ago
  It's pretty similar to other big 2021 IPOs. Rivian, Robinhood, UIPath, etc. The ones doing well are only down 50-60%. Now, these companies have pretty good access to capital, and retail getting ripped off is no problem. The interesting part of this glacier is the pre-IPO ecosystem that is bleeding money and trying to avoid similar markdowns.

optimiz3 4y ago

Rookie numbers. TSLA moves this much every other week.

loceng 4y ago
Look at the % change compared to the total market cap.. https://companiesmarketcap.com/tesla/marketcap/ https://companiesmarketcap.com/tesla/marketcap/ https://companiesmarketcap.com/facebook/marketcap/ https://companiesmarketcap.com/facebook/marketcap/ https://companiesmarketcap.com/coinbase/marketcap/ https://companiesmarketcap.com/coinbase/marketcap/ Coinbase seems to still be the "winner" here.
- wutbrodo 4y ago
  Percent change doesn't make sense either. Plenty of companies have lost a much higher percentage in the time period.

baby 4y ago

Dfinity