I watched a few minutes of CNBC today and the panel of people all were discussing a handful of stocks that are down 60, 70 or even 75% down from all time highs just within the past 24 months. Some of the names were:
– Upstart (UPST) – currently priced at $44/share was at $390 in October 2021
– Zoom (ZM) – currently priced at $89/share was at $559 in October 2020
– Carvana (CVNA) – currently priced at $33/share was at $370 in August 2021
The list could continue but in general what stocks, if any, should people begin to pile into? I know Kevin O'Leary said it twice “we have not hit bottom yet – if a person has $100 to invest in one of these stocks [that has gone down a lot recently from all time high] then buy $20 worth today and $20 worth in 30 days.” I would mostly agree. We have not hit bottom yet but I do feel the S&P 500 at or around 3800 is where the bottom is mostly at.
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