It actually very easy to understand the market behavior, just look at the charts.
And, you should decouple the company from the stock. A good company can have bad stock , what count for the stock market is what is priced in, not the actual performance.
I get that - but why was this not priced in? Interest rate rises and tapering of QE has been on the cards for a while. The economic impact of COVID is inevitably transient. Why has this suddenly dawned on the market?
2016, QQQ = 100
2020 QQQ = 400
Why?
It actually very easy to understand the market behavior, just look at the charts.
And, you should decouple the company from the stock. A good company can have bad stock , what count for the stock market is what is priced in, not the actual performance.