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Pump’n’Dump Revisited
If you’ve been a regular watcher of CNBC the past few years, you’ve heard ad nauseum about A.I. and the Magnificant 7 stocks, which were hyped to insane valuations, more than 1/3rd of the U.S. market capitalization and triple the European stock market. That’s right — 7 American stocks alone were worth 3 times all stocks of European companies. At the same time, easy-to-understand companies that sell products we use everyday such as food & alcohol plummeted in value. Why? Cramer and other financial pundits talked down these stocks due to Ozempic, Wegovy, and other weight loss drugs suppressing possible future demand. 🙄
Now, Jim Cramer and other financial propagandists have decided it’s time to flip these, because you know, tariffs and Orange Man Bad! Consumer staples have actually gone up during the market carnage the past few weeks, while the Magnificant 7 stocks are getting pulverized. As I write this, Nvidia is down 41 percent from its highs. Tesla -59%, Apple -31%, Microsoft -26%, Amazon -33%, Google -30%, and Meta -35%. Meanwhile, consumer staples are up 5 percent the past two weeks.
Have conditions really changed for any of these companies? Yes, obviously tariffs will affect things going forward, but we don’t yet know how it will all play out. There is ZERO chance all the rates Trump quoted in his tariff speech will stay that way. My guess is that few rates, if any, will be the same by the end of the year. And when the dust settles, when all negotiations have concluded, we may have the freest trade we’ve seen in a generation, making business conditions far better than they are now.
So, really, the stock market drop and shifts of sector valuations are almost entirely driven by uncertainty, panic, and media hype. The pump’n’dump is a tried and true formula for financial media personalities. So-called “experts” are rarely ever called out for being wrong, but for commentators like Jim Cramer, it’s easy to be right when your words have the power psychologically to cause people to do what you’re predicting.
Blog Link: https://educationdojo.com/study-break/2025/04/04-05-education-dojo-daily/#random_thoughts
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There was a scene from the planet of the apes books (not the movie) where they described their stock market with apes and chimps hooting and hollering and flinging poo and it was spot on.
In reference to “Checks and Balances” comic: I’m old enough to remember previous presidents that promised to deport illegal aliens who have been convicted of other crimes while residing in this country. A sensible policy idea overwhelmingly approved by the majority otherwise known as “low-hanging fruit.” It seemed like a reasonable starting point that no one would dare object to its undertaking.
Well, now we know that was just talk from the looney leftist party. They never intended to permit any such measure to come to fruition. It is inconceivable that any judge would entertain such an insane idea as to prefer illegal criminals convicted of the most serious crimes over law-abiding American citizens—but here we are.