Quote:
Originally Posted by BigBeauford
How ****ed are we going to be in Dec when so many companies are going to miss their numbers since people aren't going to black Friday shop? Many base their yearly budgets on that day, hence the word "black". I'm starting to think I might take my profits, but I know taxes are going to take out a big chunk because I haven't let it sit a year.
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I don't think you will be at all. We've seen that tech companies will be fine. Will there be any company that does amazing? Probably not, unless perhaps the new Xbox or PS5 really catch fire. Apple is still going to sell a million new iPhones in their Sept Oct launch window. But people are putting their money in safe places, and tech is it. The retail likely to suffer is the retail already suffering. Multiple clothing companies have declared bankruptcy during the pandemic already, and it's businesses like that where extra money not being spent on Black Friday matters. But those companies have already had their stocks crushed a long time ago, like Ralph Lauren being down 50% since the start of the pandemic. If you were buying that stock today, the stock is already factoring in that the holidays probably aren't going to be great, otherwise it wouldnt still be down 50%.