Last two years have been quite a ride for investors.
Here are some of the craziest stories of this bull market👇
1. #Etherrock
You must be living under a 'rock' if you haven't heard of the entire NFT craze🤠
Aug 23, 2021: A rock jpeg that sold for $1.3 Million! And then many other rock pictures sold for over a million, highest being $2.8 MN! The buyer(s) remains anonymous.
2. An invisible statue was auctioned for € 18,000.
In reality, it was an empty box the artist claimed was a "space full of energy"💨
We couldn't find a picture of the statue, so here is a picture of the architect Salvatore Garau🤠
3. Jan 2021: Gamestop surged 30x in 2 weeks and took down a $13 BN Hedge Fund (Melvin Capital).
Melvin had a big short position in $GME. Usually, these are not disclosed, but these were 'listed' put options. Some redditors discovered it and took the stock to the moon! 🚀
4. The #Archegos collapse
Mar 20-22, 2021: Remember when Bill Hwang lost $20 BN in two days. They used Total Return Swaps (TRS) to build $10 BN position in Viacom.
Viacom announced a ~$3B share sale, led to a 20%+ selloff and put huge pressure on the levered portfolio.
4. Used cars became an appreciating asset! Ideally, the value of a car depreciates 15-20% every year, but 2021 saw the craziest used car boom ever.
Reason - semiconductor shortage cut down production of new cars, driving up demand. Many used models sold for higher than new cars
6. April 2020: Oil went negative and everyone lost their cool😅
It effectively meant that producers were paying customers to buy oil from them. The reason was to avoid incurring of storage cost, as oil demand had crashed globally!
7. Tesla short-sellers lost $38 billion in 2020 as the stock surged over 730% in 2020.💸
Musk even released tesla branded red "short shorts" to mock the shorters!
8. The rise of dogecoin!
Started as an internet meme, Dogecoin became the 5th most valuable crypto at 75 BN after Musk fueled a massive rally by endorsing it. That's higher than all but 5 largest Indian companies.
9. Let's see Indian cases.
Last week, Telcos got relief on their AGR dues via a 4 year moratorium. But do you remember this 👇
Friday, Feb 12, 2021: DoT released a notification giving Telcos a window of 6 hours to clear all AGR dues by midnight🤑
10. Sep 15, 2021: ITC finally moved and got the internet memers into action!😁
Let's wrap up - we have surely missed a few. Which are the other crazy/ weird/ extreme stories of this bull market?
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