The day of reckoning seems to finally be here for new IPO’s that have done well. LYFT is down another 7% today while UBER is down almost 10%. Both have badly broken their IPO prices.
Nonetheless, it is not a good sign when fresh IPO’s tumble this badly.
The Nasdaq (QQQ) is now down 6% in the last 5 days as investors decide it is time for risk-off with the new Chinese tariffs now going both ways. It’s ugly out there, and not getting much better.