The Dot-com 2.0 bubble peaked on May 3, 2019 before crashing. Some of the biggest losers are the following.
Company | Symbol | Date | Stock Price | 5/13 Price | % Decline |
FB | 05/03/19 | 195.47 | 181.54 | -7.13% | |
Apple | AAPL | 05/03/19 | 211.75 | 185.72 | -12.29% |
Sprint | S | 05/10/19 | 6.16 | 6.02 | -2.27% |
Dell | DELL | 05/03/19 | 68.70 | 64.04 | -6.78% |
Tesla | TSLA | 04/16/19 | 273.36 | 227.01 | -16.96% |
Uber | UBER | 05/10/19 | 41.62 | 37.10 | -10.86% |
Lyft | LYFT | 05/03/19 | 62.51 | 48.15 | -22.97% |
TWTR | 05/03/19 | 40.80 | 36.59 | -10.32% | |
Snapchat | SNAP | 05/03/19 | 11.80 | 10.11 | -14.32% |
Netflix | NFLX | 05/03/19 | 385.03 | 343.98 | -10.66% |
Yahoo | AABA | 05/03/19 | 79.15 | 68.68 | -13.23% |
I expect all of these, except Facebook and Apple, to go bankrupt within 3 years or to be swallowed up for pennies on the dollar.
Upcoming IPOs from money-losing companies, which will probably be cancelled:
Airbnb. Supposedly worth $31 billion.
Slack. Supposedly worth $10 billion.
Pinterest. Supposedly worth $12 billion.
WeWork. Supposedly worth $42 billion.
Update:
WeWork had revenues of $1.8 billion and losses of $1.9 billion in 2018. So its operating costs were $3.7 billion.
Dropbox had revenue of $1.39 billion in 2018 and and losses of $484 million.
Spotify had revenue of $5.26 billion in 2018 and losses of $78 million. It expects to be profitable in 2019.
Tesla had revenue of $21.46 billion in 2018, an 82% increase over 2017. Its losses for 2018 were $976 million.
Airbnb had revenue of $2.6 billion in 2018 and profits of $93 million. Finally, a company that shows a profit.
Update 2:
Sprint is being swallowed up by T-Mobile. The new company will be called T-Mobile, and current T-Mobile CEO Legere will serve as the CEO of the new company.
Altaba (AABA), the remnant of Yahoo, has announced a plan of dissolution, which could take several years.
Dell had revenue of $90.6 billion in 2018 and losses of $191 million. For the first quarter of 2019, it had revenue of $21.4 billion and losses of $153 million.
Update 3:
Wayfair (W) had revenue of $6.7 billion in 2018 but lost $504.1 million.
Carvana (CVNA) had revenue of $1.9 billion in 2018 but lost $254.7 million.
Update 4 (6/14/19):
Chewy (CHWY) just went public today, opening at 22.00 and quickly jumped to over 40.00 before dropping a little. It had revenue of $3.5 billion in 2018 and losses of $267 million.
Update 5 (6/18/19):
Slack is about to go public under the symbol WORK and expects to be valued at about $16 billion. It had revenue of $400.6 million in the fiscal year ending January 31, 2019 and losses of $140.7 million, up from losses $140.1 million the previous year.
Update 6 (7/3/19):
Zillow (ZG) has a market cap of $9.5 billion and lost $151 million in 2018.
Update 7 (7/9/19):
Virgin Galactic is preparing to go public by the end of the year. I can't find anything about revenue, profits or losses.
Update 8 (7/26/19):
Beyond Meat has a $14 billion market cap, as big as ConAgra.
Update 9 (7/29/19):
Boeing (BA) which is a huge established blue-chip company with a history of profitability and dividendes, is now acting like a DotCom. Then there is Boeing [BA]. It just reported the largest quarterly loss in its history of $2.9 billion due to a nearly $5-billion charge related to its newest bestselling all-important 737 Max, two of which crashed, killing 346 people, due to the way the plane is designed. And what does Boeing’s share price do? It dipped 3% today and is up 2% from a year ago, before all this happened. In essence, two crashes and the grounding of its bestselling plane, and the potential suspension of production of this plane, and its uncertain future … and the stock has ticked up over a 12-month period.
https://wolfstreet.com/2019/07/24/i-got-it-nothing-matters-tesla-boeing-stocks-like-the-whole-market-has-gone-nuts/
Update 10 (8/29/29):
Peloton (PTON) is preparing to go public. It had revenue of $915 million for the fiscal year ending June 30, 2019, and losses of $195.6 million during that period.
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