[analog31]

If someone sells the stock, someone else buys it. The value is still the net present value of future earnings. This is a redistribution of wealth, not a decimation. The wealthy can still earn more if they want to.

[lazide]

When market cap goes down because overall valuation does, what do you think is happening?

Valuation hasn’t been tied or related to earnings for top stocks in at least a decade.

It isn’t ’wealth redistribution’.

Removing half or more of market demand isn’t going to be pretty.

[analog31]

Market cap and valuation are the same thing.

[lazide]

That’s what I said, yes.