The 007-style #skyfall feels more like a #freefall.
Peter Thiel decided it was time to sell off a majority of the shares. We’re talking 20.6 million of his 26.2 million Class A shares.
If you look at the photo above, Peter is probably chasing Silicon Valley veteran Marc Andreessen, among others, that have lost faith in companies expected to drive YET ANOTHER but new Internet boom. Marc pulled out of Groupon Inc. Boom!
It’s a blood bath but people like Jim Cramer are saying:
Hey, the big boys gotta eat Jim. For the rest of main street, it’s a suckers game.
All this may not sound as bad as MGM’s bankruptcy in November 2010 but it’s pretty close.