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Repeated interest rate hikes by the Federal Reserve exposed the poor bets and hubris of regional highfliers like Silicon Valley Bank and First Republic.

The Wall Street Journal outlined some of the most striking examples of what happened to the onetime highflier:

I remember back in ’99, the highfliers were Cisco and Sun.

Companies can remain in that condition indefinitely, but more often than not, gravity has proven to be a harsh mistress to highfliers, and the trigger for a drastic revaluation can come from anywhere.

Roughly two years into the pandemic, several of 2020′s highfliers have seen their stock valuations under pressure while the world returns to something more closely resembling a normal business cycle.