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A Stock Market Which Reminds Me of Ye Olde Late 1990s BBS

There are times when one can not but help expose one’s age. Yes, I admit I am a boomer, no I do not admit that I use a walker, a broker, or go to Golden Corral at 3:30 p.m. for dinner.

But there is a sinking reality as I watch the clown show known as Wall Street proceed to dupe and deceive another generation of retail investors who think that because the government bailed the big banksters out in 2009, they too will get a bail out because they sunk their mom and dad’s inheritance into a shitcoin in search of absurd returns.

The equity market now reminds me every bit of 1999 and then some.

For one, penny stocks, again, are all the rage as I highlighted a few weeks ago in this article, The NASDAQ Rally Today: A Penny Stock for Your Thoughts?

For example, one of the stocks that I highlighted was an EV (Electric Vehicle) manufacturer that has yet to really do anything in the real car market but make promises. The stock, as I highlighted in the article above, traded briefly above $3 per share before settling back into its $1.00-$1.20 range. However that is not the entire story as this snippet via YahooFinance illustrates:

My reader’s eyes are not deceiving them; this stock once traded at an all time high of $4,428 per share during the “green revolution” and “renewable future” garbage promoted by the Biden junta, WEF, and Wall Street to sell people on the idea that we all had to eat bugs, drive limited range battery powered clown cars, and put solar panels on our dog butts to fuel the future.

For the MMT and modern math challenged, that’s a 99.998% decline give or take a decimal point or two, yet investors continued to trade north of a billion shares per day on occasion because they want to gamble like it is the latest meme coin.

Just like the 1999 .com bust.

Here’s today’s top six most active NASDAQ stocks by volume and I challenge any of you to find the next Microsoft or even NVIDIA in the group:

That’s right, nothing over $1.00.

Meanwhile, just like 1999-2000, everyone is piling into NVIDIA because it is the savior of the free world and capitalism (Hint: it isn’t).

I’m not going to tell anyone what to do with their money, how to invest, or anything of the sort. If you want to set your money in your wallet on fire while sitting on it, I hope it turns you on or something.

But these are dangerous market, economic, and geopolitical times.

Perhaps even more so than 1999.

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