Profitless Growth Stocks Are Losing Their Shine

It was a bad omen when tech giants like Tesla, Apple, and Amazon saw their stocks slump in the days following solid earnings reports. Tesla beat analyst expectations across the board, although selling some Bitcoin helped; Apple reported a blockbuster quarter as demand for gadgets soared; and Amazon reported a huge earnings beat as e-commerce and cloud sales boomed. If that's what's happening to profitable companies when results are positive, you can imagine what's happening to profitless companies when there's any reason to be disappointed.