There was a shortage.
The cause of this and inflation are simply. An expansion of money supply. Bad government policies.
If a company needs to grow at all costs and have awesome liquity ratios (which means assets like money over debt + costs) the shareprice goes up. When this is low the share price goes down.
When borrowing costs and government bailouts from the Covid in 2020 threw out free money all the .com's took a shit ton of debt at .5% interest or something stupid low. If not hedge funds in London and Wall Street were taking .5% loans and investing ... viola SHARE PRICE HIGHS!
With extra $$$ they hired and hired and hired as it they were loaded with free money and wanted to hurt competitors by taking talent off the market.
Now since the debt is up and no income is earned the shareholders are asking for money since it costs now 6.5% interest and if the share price grows less than 6.5% then keeping it in a savings account is a better investment.
So we lay them all off to cut costs.
I think no kid out of school should be working at home earning 180k a year to moderate content data at reddit. Sorry, but it is a gaslight to us all timers who had to work harder for 20 years and still never earn that money. Economics are back in reality now.
To me it proves that maybe using gold and having a sane Federal Reserve is more important than use it as a political tool. I am still a democrat but it is getting harder and harder seeing stuff like this damaging people's investments and lives.