Investor Sentiment Sours on Tech Stocks
The pros start to turn bearish just as the big cap tech stocks reach oversold. Are retail traders far behind?
The pros start to turn bearish just as the big cap tech stocks reach oversold. Are retail traders far behind?
Our repair work continues on the $10,000 Portfolio.
Stocks recovered from early losses as Tech bounced and the largest drop in 10- and 30-year yields in over a year saw five sectors gain over 1%.
Four buys, one sale and one exit as we fight back and right the ship.
We sold some of our position in the aerospace firm alongside ARK Invest.
– $MEDS +36% (preliminary September pharmacy revenue exceeded $1M, rising more than 66% from July)
– $ACN +17% (Q4 beat with $22.2B of bookings and stronger operating margins)
– $ABAT +13% (receives federal approval to export up to $100M of recycled black-mass material)
– $QSI +13% (no clear fresh catalyst identified; unusually large move on heavy premarket volume)
– $VICR +12% (raises Q3 sequential revenue-growth outlook to more than 30% from more than 20% on higher royalties)
– $GLOB +11%, $CTSH +7.5%, $INFY +8.1%, $EPAM +6.6% (IT-services names rise in read-through from ACN’s Q4 beat, strong bookings and margin performance)
– $INSG +9.6% (completes fixed-wireless-access acquisition expected to roughly double revenue and expand its global footprint)
– $IBM +5.7% (unveils a self-hosted enterprise AI model)
– $NU +5.6% (rebounds after clarifying it is not pursuing the reported UK digital-bank acquisition)
– $GLUE +4.8% (Phase 1 GFORCE-1 results showed normalization of key pathogenic drivers of cardiovascular disease)
– $RKLB +4.3% (signs its largest commercial launch agreement, covering 20 missions and lifting total backlog above 100 launches)
– $MKC +3.7% (Q3 profit and sales beat expectations as pricing offset softer volumes)
– $SNPS +3.7% (signs a multiyear silicon-IP and engineering-software agreement valued above $1B)
– $CEG +3.4% (signs a 20-year, 690-megawatt nuclear power agreement supporting more than $3B of infrastructure investment)
– $TARA +3.3% (updated 12-month Phase 2 ADVANCED-2 data showed durable responses in BCG-naïve bladder-cancer patients)
– $FHTX -43% (Phase 1 review leads to discontinuation of FHD-909 expansion and a related degrader program; workforce cut about 40%)
– $ANGO -16% (no clear fresh catalyst identified; unusually large, high-volume premarket decline)
– $LQDA -12% (federal court rules YUTREPIA infringed two pulmonary-hypertension patent claims)
– $ZELA -12% (Phase 3 obesity trial met its endpoints, but weight-loss efficacy fell short of investor expectations)
– $BGIN -10% (slides following first-half results)
– $IVA -10% (extends weakness following unaudited first-half results and corporate update)
– $FLOC -8.5% (no clear fresh catalyst identified; unusually large, liquid premarket decline)
– $ENTX -6.4% (no clear fresh catalyst identified after healthcare and company-news checks)
Our small-cap portfolio is reeling a bit.
We’re buying more shares after a harsh day for the position.
Ocular Therapeutix is selling off sharply, taking our small-cap portfolio down with it.