Tuesday Hot Pockets: Serious Drops For Some Stocks, Same-Same For Others
Tim Knight | Oct 27, 2021 02:32AM ET
Well, the earnings are starting to ramp up, and its tough to make out what’s happening through the fog. First we have Microsoft (NASDAQ:MSFT), which has already taken traders on a vomit comet. As of this writing, it’s up, just like it has been almost every day for the past twenty years or so.
Advanced Micro Devices (NASDAQ:AMD), which is a big hero of the /wsb crowd, isn’t doing much; it’s slipping lower, which is probably a bitter disappointment to the redditors out there.
Alphabet (NASDAQ:GOOGL) (that is, Google) is doing the same gymnastics as Microsoft, although it has merely returned to being flat, having recovered from a modest tumble.
One stock that’s taken a serious hit is Robinhood (NASDAQ:HOOD). I guess the demand from kids who like to pretend they’re traders and have confetti explode on their screen with every executed order is thinning out.
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With this recent drop, Robinhood has returned to its IPO price. The history of this as a public stock is very simple—it went ripping higher for a couple of days and has been bleeding out ever since. And remember, this is in the context of a comically, laughably, hysterically fake market. In a real market, this piece of crap would never have been assigned a ticker symbol in the first place.
At least they aren’t Cortexyme (NASDAQ:CRTX), which has wiped out years of gains in about a millisecond. It seems their highly-pumped Alzheimer’s drug (see the big gap up from a few weeks ago) is a dud, so the stock is being absolutely destroyed.
This is all just pops and buzzes though. As Facebook (NASDAQ:FB) proved over the past 24 hours, what happens in the after-hours session, even with large, heavily-traded stocks, is often rendered absolutely meaningless by the end of the next trading day.
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