May 10, 2022, 5:44 pm EDT
Artificial Intelligence, Software, Crypto Collapse
There are many once the hot stocks in the artificial Intelligence, software and cryptocurrency industries collapsed 70-90% down from the recent highs.
- UPST: -56% today; -91% from the recent high
- COIN: -14% after hours; -82% from the recent high
- RBLX: -5% after hours; -84% from the recent high
- U: -32% after hours; -84% from the recent high
- UPWK: -70% from the recent high
- TDOC: -80% from the recent high
- PLTR: -73% from the recent high
It is important to stay away from these stocks because the real bottom is zero for these troubled companies. Trying to catch a falling knife is going to hurt you badly.
Also, popular names do not mean anything if their stock cannot perform.
Lastly, if you bought a stock that is down 5-7% from your purchase price, then you should exit the position as soon as possible. Because your entry point was incorrect.
Do not hold any losers from a small loss to a disaster like these stocks. You can still fight back after cutting the loss quickly.
But, if you let the losers stay in your portfolio, it will ruin your entire investment or knock you out of the market completely.