You might be curious as to why the stock market is taking a hit today .... particularly among the high flyers. My best guess: it is because there are 16 initial public offerings (IPOs) coming out this week and I think this selling among the high-beta stocks (Tesla, Facebook, etc.) is nothing more than the raising of capital to buy into these new stock offerings. If these new IPOs start off with a bang ... which most suspect ... then this will do nothing more than inflate the total capital base of the U.S. stock market.
Unless of course, Russia invades the Ukraine and/or other former SSRs.
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