• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

When SpaceX starts trading, some 'shareholders' will discover they own nothing at all

2

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

3

Current price of oil as of June 12, 2026

1

When SpaceX starts trading, some 'shareholders' will discover they own nothing at all

2

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

3

Current price of oil as of June 12, 2026
Tech

Fickle Investors Offer More Proof That Tech Valuations are Unsustainable

By
Adam Lashinsky
Adam Lashinsky
Down Arrow Button Icon
By
Adam Lashinsky
Adam Lashinsky
Down Arrow Button Icon
February 5, 2016, 8:42 AM ET

Touchy, touchy.

Tech investors are a fickle, capricious lot, behind only oil traders and buyers of Chinese equities in their lack of forgiveness.

Shares of a bevy of tech companies have been slammed this week, each one previously a darling to a greater or lesser degree. Their transgressions varied, from downright dreadful results to soft forecasts to unexpected tax snafus. What these falling angels have in common is an investment community that sells first and asks questions later.

It’s a good lesson for newer observers of the tech scene: Yes, in fact the lofty valuations of a year or two ago were ridiculous and unsustainable. To have believed otherwise was naïve.

Get Data Sheet, Fortune’s technology newsletter.

Take GoPro (GPRO), a fine company with an innovative product its customers love. GoPro’s problem of late is that its newer wares aren’t so great and it has too few customers. It didn’t help that it lowered first-quarter revenue guidance by about $130 million. GoPro’s is a single-digit stock now, down from more than $65 this summer.

Shares of LinkedIn were hammered in after-hours trading last night, down 29%, after the recruiting site reported a weak forecast for 2016. LinkedIn (LNKD) has a giant business, but it loses money and it is priced for perfection, as the market mavens say. Now it’s priced for less perfection.

Shares of data-analytics software maker Tableau Software (DATA) were hit even harder, despite robust revenue growth. The companies shares were off about 36% after hours after it disclosed it was unlikely to benefit as planned from a deferred tax asset. (Fortune’s Andrew Nusca ferrets out the details here.)

This is how it goes. When times are good, problems are easy to overlook. When times are tougher, as they are now, every foible is punished.

About the Author
By Adam Lashinsky
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Anthropic cofounder and CEO Dario Amodei pictured in profile.
AIAnthropic
Anthropic disables Fable and Mythos AI models after U.S. government bars it from giving foreigners access
By Jeremy KahnJune 13, 2026
3 hours ago
Courtney Robinson, head of policy and communications, at Akoya speaks on a panel at Fortune Brainstorm Tech 2026.
RetailBrainstorm Tech
AI shopping agents are coming. No one is ready for them
By Jeremy KahnJune 12, 2026
7 hours ago
AI can be a ‘secret sauce’ or a way of ‘democratizing mediocrity’—Here’s how business leaders are getting the best of the technology
C-SuiteBrainstorm Tech
AI can be a ‘secret sauce’ or a way of ‘democratizing mediocrity’—Here’s how business leaders are getting the best of the technology
By Amanda GerutJune 12, 2026
8 hours ago
Elon Musk stands behind the Nasdaq opening bell and in front of a "SpaceX" background.
Startups & VentureSpaceX
Founders Fund, Andreessen Horowitz, Valor, and the biggest VC winners from SpaceX’s IPO
By Allie GarfinkleJune 12, 2026
11 hours ago
Sven Gerjets, chief technology officer at Gap, speaks on stage on a panel at Fortune Brainstorm Tech 2026.
Future of WorkBrainstorm Tech
Why companies are treating AI as a strategic partner rather than a passive technology, and how to avoid an ‘AI hangover’
By Sebastian HerreraJune 12, 2026
11 hours ago
Elon Musk stands behind the Nasdaq opening bell and in front of a "SpaceX" background.
Future of WorkElon Musk
Despite his new trillionaire status, Elon Musk says money ‘will stop being relevant’ in the future because of AI
By Sasha RogelbergJune 12, 2026
13 hours ago

Most Popular

When SpaceX starts trading, some 'shareholders' will discover they own nothing at all
Investing
When SpaceX starts trading, some 'shareholders' will discover they own nothing at all
By Jim EdwardsJune 12, 2026
21 hours ago
Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
Environment
Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
By Catherina GioinoJune 9, 2026
4 days ago
Current price of oil as of June 12, 2026
Personal Finance
Current price of oil as of June 12, 2026
By Joseph HostetlerJune 12, 2026
19 hours ago
American taxpayers have spent $33 billion on sports stadiums. They got fewer seats—and higher prices
Success
American taxpayers have spent $33 billion on sports stadiums. They got fewer seats—and higher prices
By Catherina GioinoJune 11, 2026
2 days ago
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
Energy
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
By Sasha RogelbergJune 10, 2026
3 days ago
Current price of oil as of June 11, 2026
Personal Finance
Current price of oil as of June 11, 2026
By Joseph HostetlerJune 11, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.