The earnings report season has poured a bucket of cold water on tech stocks š»
Intuit (INTU) released its latest earnings guidance, which came in far below market expectations, and the stock plunged directly by 10% in pre-market trading. Zoom (ZM) also didnāt escape the falloutāafter its earnings guidance missed expectations, it fell another 5.3% in pre-market trading.
In fact, since the start of this year, many tech giants have faced varying degrees of sell-offs after reporting results. The marketās requirements for earnings expectations have become increasingly stringentāonce they miss expectations, investors vote with their feet.
In this situation, could a similar transmission effect also occur for the crypto market? Repeated delays in expectations for Federal Reserve rate cuts mean that risk sentiment in traditional markets will, to varying degrees, continue to affect sentiment in the crypto space. What does everyone think about this collective pullback in tech stocks?
#TradFi #ē¾č” #Tech Stocks
Intuit (INTU) released its latest earnings guidance, which came in far below market expectations, and the stock plunged directly by 10% in pre-market trading. Zoom (ZM) also didnāt escape the falloutāafter its earnings guidance missed expectations, it fell another 5.3% in pre-market trading.
In fact, since the start of this year, many tech giants have faced varying degrees of sell-offs after reporting results. The marketās requirements for earnings expectations have become increasingly stringentāonce they miss expectations, investors vote with their feet.
In this situation, could a similar transmission effect also occur for the crypto market? Repeated delays in expectations for Federal Reserve rate cuts mean that risk sentiment in traditional markets will, to varying degrees, continue to affect sentiment in the crypto space. What does everyone think about this collective pullback in tech stocks?
#TradFi #ē¾č” #Tech Stocks