Shares of DocuSign [DOCU], purveyor of eSignature services, collapsed by 30% in afterhours trading, from $233.82 a share to $164.50 a share in no time, taking its $46 billion in market capitalization down by about $14 billion. Since their peak in August, shares have plunged by 47%:
#recession … #StockMarket #Bubble edition#SPX #SPX500 $SPY #ES_F 📉 https://t.co/a3pQz3Rgkr
— Invariant Perspective (@InvariantPersp1) December 3, 2021
#recession … #Global $USD #Liquidity #Squeeze edition https://t.co/QlDOY16cTm pic.twitter.com/NwJg46Znr6
— Invariant Perspective (@InvariantPersp1) December 3, 2021
2/x) The implications of this are pretty obvious, but it's not that straightforward. Bc of latent orderbooks etc, it's not that bad moving isolated size during calm waters. But liquidity is inherently short volatility & embeds convexity within the orderbook on heavy onesided flow pic.twitter.com/qStkGXwj41
— Stretching Spreads (@FadingRallies) December 2, 2021