Peaked at #1 Now #1
Tech Giants, S&P Stocks Enter Bear Market
Kobeissi says over 60% of S&P 500 components are in bear market territory, with four of the Magnificent 7 down and $4T in market cap erased.
Key points
- Over 60% of the S&P 500's components are now down -20% or more from their record highs.
- Four of the Magnificent 7 stocks are now in bear market territory, with the seven names erasing a combined -$4 trillion in market cap since their highs.
- @BullTheoryio: 5 of the Magnificent 7 are down more than 10% from their all time highs, and 2 are already in a bear market, while the S&P 500 $SPX is trading just 1.8% below its all-time high.
- @BullTheoryio listed Google $GOOGL down -31.4%, Meta $META down -22.5%, Tesla $TSLA down -17.9%, Amazon $AMZN down -16.0%, Nvidia $NVDA down -12.9%, and Microsoft $MSFT down -6.5%.
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Original post
There it is.
Over 60% of the S&P 500's components are now in bear market territory, down -20% or more from their record highs.
Four of the Magnificent 7 stocks are now in bear market territory, with these seven names erasing a combined -$4 trillion in market cap since their highs.
We are in a "stealth" bear market.
And, we believe it's a huge opportunity as we outlined below on October 15th.Quoting @KobeissiLetter: https://t.co/WahTIU665I
What others are saying
1 more-
Bull Theory notes 5 of the Magnificent 7 are down over 10% from highs, Google -31.4%, while S&P 500 is just 1.8% off highs.
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Top replies on X
Reaction on X: Replies are mostly split between confusion over how SPY is not down more and calls that this is a buying opportunity. One reply says AVGO, TSM, Tesla, and SpaceX are now more magnificent than Meta, and another notes $RSP was up 1% this morning.
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From @layeredstacks, @na_man20, @curtis90335 and others. Spam removed, with English and Chinese translations.
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