📉 Wait, These Prices Look Familiar...
With global macro issues driving down the market, we're starting to see very similar prices in numerous companies we haven't seen since even 2020.
Nasdaq Slowly Folding
With 2022 being plagued by rising interest rate fears, inflation, slowing of QE, and oh, a war in Europe, many stocks are off their 52-week highs
Looking at tech stocks amongst the Nasdaq, the percent of companies within the index that are off over 25% from their 52-week highs has gradually risen to 45% as of Friday
Eight names are off over 50% from their 52-week highs: Docusign DOCU 0.00, Biogen BIIB 0.00, Zoom Video ZM 0.00, Baidu BIDU 0.00, Lucid LCID 0.00, Moderna MRNA 0.00, PayPal PYPL 0.00
There’s only one name that is off over 75%: PayPal
Until next time,
Cedar Grove Capital