Billionaire and founder of An investing firm, Shervin Pishevar, recently went on what has been referred to as a tweet storm, releasing 50 tweets aimed to identify and to break down, a number of economic trends that he predicts will change the state of the global economy. Over the course of his career, Shervin Pishevar has correctly predicted a number of important financial changes regarding the stock market and has also been an early investor in several transcendent companies, including Airbnb and Uber.
Google and Amazon were two of the major conglomerates that Shervin Pishevar predicts will undergo a significant downturn in the near future. Many people are taking his predictions very seriously, as one day after going on the tweet storm, the market began to suffer tremendous losses, with the Dow declining at an alarming rate, and the S&P struggling to regain its footing. As a result, the markets began to panic, and historically safe bonds and industrials began to lose their security. In a half hour, a huge sell-off resulted in the Dow dropping 500 points, and Shervin Pishevar, referencing the constant bragging of President Donald Trump regarding the ascending nature of stocks in recent times, created the phrase, TrumpDump.
The first of Shervin Pishevar’s tweets came around 9 pm on February 5th, and he immediately began discussing the current state of U.S. markets, predicting that over the next few months, the U.S. stock market would suffer a 6000 point drop. Throughout the course of the tweet storm, he would elaborate further on his predictions, which seemed to give them more credence, particularly considering the fact that Mr. Pishevar had recently taken a hiatus from Twitter. Once Shervin Pishevar reached his 24th tweet, he touched on one of the most popular topics of recent economic debate – Bitcoin. In light of its recent decline, Mr. Pishevar predicted that the cryptocurrency would continue to drop consistently, before rising again at a stable pace over the next two years, which makes sense, as Bitcoin recently reached a price of 20k, before swiftly dropping back to a price of 8k.