i don't think so.
Nasdaq tanked further....there is so much hot money in tech stocks it's going to be hardest hit.
It is getting close to oversold based on the Tick and Trin indexes but I would not be trying to second guess the lows yet.
Zip is still valued even after Fridays sell off at over $4 billion dollars on a fully diluted basis as they are issuing shares like confetti to try to stay afloat.
$4 billion is a ridiculous valuation for a company that is losing money hand over fist and has only $200 million in revenue and $100 million in tangible assets
Every cycle there is a bubble in one category or another and the market is littered with bubble stocks that returned to their IPO prices or were delisted.
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Chart - Z1P, page-43
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Last
$1.41 |
Change
0.060(4.44%) |
Mkt cap ! $1.588B | |||
| Open | High | Low | Value | Volume |
| $1.38 | $1.43 | $1.37 | $17.28M | 12.28M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 16665 | $1.41 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.42 | 56101 | 5 |
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| Last trade - 16.10pm 25/06/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |