Equity Monday: When does a selloff become a rout?

Equity

TechCrunch

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4.2 • 372 Ratings

🗓️ 6 December 2021

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Despite the advanced week, news is still coming in in hot and heavy, so strap in for today's busy episode: Cryptos have failed to recover from their weekend swoon, leading to most major crypto assets suffering from a double-digit decline in their value over the last week. Sensetime's Hong Kong IPO is set to raise less money than the AI company had hoped. BitMart got hacked, showing that even this deep into the crypto era we are still seeing embarrassing security lapses that deliver material consumer pain. Alibaba is reshuffling its leadership, though we are not sure at this juncture what the changes mean. Not to get speculative, but we're keeping an eye on the new leadership. A number of investors are considering pouring capital into Polygon, TradeDepot raised $110 million, and Stacked raised $35 million for its crypto-investing system. I would normally say that it's a holiday week, so let's relax, but instead I wonder if we're going to see a final push of news this week before things do calm down for the holiday period. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hello everyone and good morning welcome to Equity Monday Monday this is Alex it is
0:14.0	December 6th it is very very cold here on the East Coast it is definitely
0:17.8	actually winter which means everyone on the equity team is a little bit sad but we
0:21.3	are happy though because the news is not
0:23.5	slowing down which means we are not bored but before we get into all of that a
0:26.9	couple of quick notes one Asian stocks were generally lower today
0:30.3	European stocks are generally higher and the US stock market is set to open
0:34.0	mixed it appears. Also if you were on the crypto front you know that you had a very
0:38.0	tough weekend with the flash crash and Bitcoin and other major crypto assets
0:41.6	I'll just note that there's been very little recovery.
0:44.0	Bitcoin is still under the 50K mark. It comes down to around, I don't know, 4K give or take,
0:49.0	but really it's still double digit declines for most major cryptos over the last seven days, not a great sign for
0:54.3	coin based on other exchanges and a very, very tough pill if you are long on many, many major coins.
0:59.8	All right, so dialing into a couple of companies and a couple of sectors that I want you to
1:03.1	understand this morning. The first thing up is Soft Bank. Soft Bank, of
1:06.4	course the famous Japanese conglomerate Investing in Powerhouse and the current
1:10.3	lead investor of the Soft Bank Vision Fund 2, which is writing quite a lot of checks out there.
1:14.5	You might think they'd slow down a little bit, given issues recently with DD and Arm.
1:18.5	DD, of course, in trouble with the Chinese government.
1:20.9	Arms deal with NVIDIA currently under fire from several governments
1:23.6	leaving to declines in the share price of soft bank but the company does not
1:27.2	seem to be slowing down I saw deals from then this morning so soft bank's
	...

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