by Chris Black
Wall Street will always push a new fad to sell worthless shares.
They’ll slap billion dollar valuations on companies with no revenue, just to create hype, then idiots will chase returns like slot addict grannies in Vegas.
Look at Vinfast.
Their sales model is atrocious and will never succeed in the US, i.e. making you buy the car, and pay a lease for the battery.
That doesn’t matter, they have been given billions of dollars and are trying to IPO in the USA.
Wall Street analysts will claim a $30 billion market for products will appear out of nowhere when a handful of companies are selling a few million worth of stuff.
Ever hear of FogDog sports?
They were supposed to become the largest distributor of all sports equipment, running the online outfits for every major retailer.
The company was valued at a few hundred million dollars.
The problem is, they didn’t even move more than a few million dollars’ worth of stuff and didn’t own a warehouse large enough to supply a few stores, let alone the entire country.
Who cares, the executives made millions along with Wall Street.
The stock market has always been a con game, a very profitable one for the outfit that runs it.