Business
Local fundies dodge Greensill insolvency – The Australian Financial Review
Greensill Capital’s move to the brink of insolvency coincides with investors in global markets rethinking the merits of high-growth stocks with fantastic valuation…
The world is completely rethinking the assumptions that have been underpinning high-growth companies, and this is having severe implications for their market valuations.
The best measure of this change in market sentiment is the performance this month of Tesla and Afterpay.
Tesla is the high-growth proxy in the United States, while Afterpay fills a similar role in Australia.
But this month Tesla has plunged in value by a quarter and lost $US220 billion ($280 billion) in market capitalisation. Afterpay…
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