What’s that? Bitcoin is too volatile? Here are some companies that performed even worse in the stock market.
) agonizing 60% and 66% respective drops in price are drawing a lot of criticism from crypto critics and perhaps this is deserved, but there are also plenty of stocks with similar, if not worse, performances.
Cryptocurrencies are not the only assets impacted by central banks withdrawing stimulus measures and increasing interest rates. A handful of multi-billion dollar companies around the globe have also suffered, with losses that surpass 85% in 2022 alone.Unlike cryptocurrencies, companies, especially those listed on stock markets, rely on financing — whether the cash is used for mergers and acquisitions or day-to-day operations.
Cazoo Group Ltd currently holds a $466 million market capitalization, but the car retailer was valued at $4.55 billion by the end of 2021, a 90% loss. Nevertheless, the United Kingdom-based company thrived during the restrictions imposed during lockdowns by offering a way to trade and rent automobiles online. Similarly, U.S. auto retailer Carvana saw an 87% decline in its share price.
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