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Intel heads for worst day on Wall Street in more than 50 years on weak guidance (www.cnbc.com)
submitted 1 week ago by to c/technology@lemmy.world
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[–] 12 points 1 week ago* (3 children)

More proof that the Republican party's claim of being fiscally responsible is utter bullshit.

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  • [–] 1 point 1 week ago (2 children)

    So fuck the Republican Party in general. But what does this news item have to do with them?

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  • [–] 7 points 1 week ago* (1 child)

    The Trump admin purchased $8.9 billion dollars worth of intel stock. Pumped the shit out of the stock basically.

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  • [–] 0 points 1 week ago*

    Ah, thanks, I were too lazy to read the article.

    The article does still say:

    While it’s still a profitable investment, the value of those holdings dropped by about $12 billion on Friday.

    So while fuck Republicans in general, and the government taking such a stake is not very free market, it is not completely obvious that taking the stake was stupid. Losing $12 billion on a $9 billion investment is a clue :P.

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