Hands up if you are a "Greater Fool"

I observed that every rally on APT in the $150 to $160 range was being sold into as the larger market players were distributing stock to retail Punter's using the "greater fool principle"

May APT holders were sitting on 1000 to 1600 percent gains and the smart ones took the money off the table while the others watched their gains evaporate and will probably watch then evaporate further as low as $32 imo.

The same principles apply to Zip for those that could have sold at $14.50 imo.

The following precise of articles from the excellent website Seeking Alpha gives further insight.

Becoming greedy in the stock market is a highly common mistake of investors which impacts their long term-wealth generation significantly. This greediness reached record highs over the past months as money printing and low interest rates created the common believe that momentum stocks can only go up.

I have abundantly reminded investors (see here, here and here) that certain parts of the market were forming a bubble. Momentum stocks were being bought with the intention to sell it to a greater fool instead of being based on the underlying value of the business.

Over the last few weeks, investors got reminded that this is not the way to generate wealth in the stock market. Major momentum stocks such as Tesla (TSLA), Nio (NIO), Peloton (PTON), Palantir (PLTR), Zoom Video Communications (ZM), Fastly (FSLY), Tilray (TLRY), Plug Power (PLUG), Snowflake (SNOW), etc., sold off more than 30% from their peak

IMO you can add Affirm APT Zip Sezzle to that list.

The acceleration of the economic digitization led to an extreme flow of money into tech/stocks in 2020 with value being left behind.

Growth has not been this expensive since 2000. ( Followed by 80 % fall in momentum stocks,)

This overheated market sentiment is not sustainable in the mid to long term. The past two weeks indicated a first crack in growth/tech sentiment with the Nasdaq strongly underperforming the Dow Jones.