It was just a bet by an investor that went wrong, the new reality is: 1. Biden has not reverted sanctions for the Chinese tec industry, 2. US media cannot survive without 24/7 orange man bad reporting.
The price of the stock fell, what followed was a margin call: the price of the stock fell below the amount needed to secure the credit that was taken for leverage, so the banks asked the investor for more of his own money (margin call), when he refused they sold the stocks to make sure they will lose nothing even if the price falls further.
https://www.zerohedge.com/markets/was-fund-sparked-massive-media-stock-liquidations-yesterday
Sometimes, a huge margin call results in an avalanche, sometimes other investors buy the dip.
I disagree about the media. The media is solely a propaganda outlet. Any "news" they report is only done to keep the illusion of legitimacy. Look at CNN, if they were a legitimate news organization, they would have been out of business a long time ago. Someone is keeping it alive for when they need to deflect, deny, deceive or defend.
True that. The media is not an investment, they are a money laundering operation for the drugs and weapons business of the intelligence community and essential for propaganda. The media is not only controlled (Operation Mockingbird), they are the root of the modern intelligence community. The super rich like Cecil Rhodes, who owned whole continents, not only controlled politics through their newspaper outlets, they trained future leaders through their universities, and they founded the intelligence community because they owned the journalists all over the world and the telegraph lines to connect them.
But the loss in viewership is real, the loss of ad income is real, and that must be represented in stock prices - even if it's just a show.
The pattern is still there. Telegraph lines are now eithernet cables.
(post is archived)