Market Watch Exclusive: Martin Shkreli Warns of Upcoming Market Crash
In a stunning move, Martin Shkreli, infamous as the “Pharma Bro,” has announced his intention to short several prominent quantum computing companies, citing similarities between the current market and the dotcom bubble of the late 1990s.
Shkreli’s comments come on the heels of the December nonfarm payrolls report, which showed a stronger-than-expected increase in jobs. This news pushed Treasury yields to fresh multi-month peaks, forcing equity index futures lower.
As investors become increasingly nervous about surging government bond yields and signs of revived inflation, Shkreli is positioning himself to profit from what he believes will be a market correction. His targets include Rigetti Computing, a leading quantum computing company that has seen its stock price rise in recent months.
With the current market conditions drawing comparisons to the dotcom bubble, Shkreli’s warnings are being taken seriously by some investors who believe that another bubble is about to burst. Will Shkreli’s predictions prove correct? Only time will tell, but one thing is certain: Martin Shkreli is not afraid to speak his mind and make bold bets on the market.
Source: https://www.marketwatch.com/story/jensen-huang-crushed-the-quantum-stocks-and-now-the-so-called-pharma-bro-is-going-for-the-kill-1368491e