Two Good Reasons Why The Bullish Trend Could Break [Forbes]
Slack Technologies, Inc. (WORK)
Last slack technologies, inc. earnings: 3/12 04:15 pm
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Source: Forbes
Photographer: Daniel Acker/BloombergBLOOMBERG NEWSThere's something suspicious about this past week's correction: no one really seems to care. Yes, sure, headlines are running and the tweeters are tweeting, but for a selloff that's moving even faster than the one in March — that's right, it took just two days for the Nasdaq to shave off 10% from the latest highs — the attitude seems to be oddly sanguine.Even by the standards of traditionally stale market punditry, the agreed-upon explanation of the rout sounds particularly rehearsed this time: the Nasdaq rallied too far and needed a break. A fun snarky thing to say right now is, "wow, [insert stock] is up only [insert massive number]% this year!" The speed of the ascent in the face of Covid-19 was blistering, and indeed, almost all the most eye-popping charts are still holding their uptrends. Yet even in the context of a rally that averaged +0.7% per day, 10% in two is quite a stomach-turning reversal. Why aren't more people puking? D
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