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It all depends on what you are buying.

BP, XOM have been doing pretty good and aren’t near their 2014 highs.

Tesla- yikes!
 
It’s been a difficult year for the U.S. stock market and in particular its biggest tech names.

The latest slump Thursday only solidified just how bad things have been. This time it was driven by strong economic data, which renewed concerns the Federal Reserve will stay hawkish, as well as chip maker Micron’s downbeat outlook. Billionaire hedge fund manager David Tepper saying he’s “leaning short” on the stock market didn’t help either.

The fallout makes for bleak statistical reading, particularly for those of Big Tech persuasion.

The tech-heavy Nasdaq Composite index fell another 2.2% Thursday and is down more than 33% in 2022. The index is on track to fall in all four quarters for the first time ever, according to Dow Jones Market Data.

In a year characterized by rising interest rates, among other things, Big Tech stocks have really felt the pain. FAANG stocks–Facebook’s parent Meta, Apple, Amazon, Netflix and Google’s owner Alphabet–have lost $3.03 trillion in market cap in 2022, almost 25% of the total market cap lost in the U.S.

The stark statistics just keep coming. Amazon.com stock closed below its pandemic 2020 closing low Thursday for the first time–the shares are close to 50% down this year. It’s one of 26 S&P 500 stocks currently below 2020 lows, while 45 have dropped below that level at some point.

Such drops can lend themselves to buying opportunities in the long run. However, with more rate hikes to come and a potential recession in 2023, investors may be waiting a while.
 
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Washington Examiner:

Inflation declined to 5.5% in November, according to key gauge watched by Fed​

Zachary Halaschak

Inflation fell once again to a 5.5% annual rate in November, as measured by the gauge favored by the Federal Reserve.


The decline in the personal consumption expenditures price index reported Friday morning by the Bureau of Economic Analysis is a sign that inflationary pressures are abating in the face of the Federal Reserve’s campaign to slow economywide spending by hiking interest rates. Nevertheless, inflation is running much hotter than the central bank’s target and dinging household purchasing power.
Core PCE inflation, a measure of inflation that strips out energy and food prices and is generally less volatile, is clocking in at a 4.7% year-over-year rate.
The Fed's target for inflation is 2%.
During their December meeting, Fed officials raised their projections for inflation. The median Fed official now sees inflation, as gauged by the PCE index, at 5.6% by the end of the year and just above 3% by the end of 2023. The forecast expects inflation to fall back into around the target range of 2% by the end of 2025.
 
The report, put together by Amazon's economic, finance, and science teams, is part of the company's internal research into the broader macroeconomic landscape. The 12-page study touched on topics of a recession possibility, inflation forecast, and their impact on Amazon's overall business, as Insider previously reported.

The report also noted that the most recent forecasts for the US inflation is near 3% by the end of 2023, and slightly higher than 2% in 2024.
 
I really hope you sold that Tesla stock. At worst, if you make a ton of income you may want to sell it this week and buy it again next week so you have a loss for taxes. $112! I had a friend buy it at $230 and I told him he is crazy. At the time, I told him it was going to $150. Texted him last week and said, it is heading to $100. Now I'm thinking it finally hits rock bottom around $40-50, 90% drop. That isn't as bad as the 1999-2001 drop off a cliff by Amazon.

Amazon- $4.97 (1999) to $.2825 (2001) - 96% drop
The big question: Can Tesla rebound like Amazon ($84 today - 300x) over the next 20 years? $40 to $12,000! $126B market cap to $37T! HA I'll say they don't get the 300x but a 30x is very much in the range of possibilities. That would be $1200 per share without splits vs $400 11/2021.
 
90scane said:
I really hope you sold that Tesla stock. At worst, if you make a ton of income you may want to sell it this week and buy it again next week so you have a loss for taxes. $112! I had a friend buy it at $230 and I told him he is crazy. At the time, I told him it was going to $150. Texted him last week and said, it is heading to $100. Now I'm thinking it finally hits rock bottom around $40-50, 90% drop. That isn't as bad as the 1999-2001 drop off a cliff by Amazon.

Amazon- $4.97 (1999) to $.2825 (2001) - 96% drop
The big question: Can Tesla rebound like Amazon ($84 today - 300x) over the next 20 years? $40 to $12,000! $126B market cap to $37T! HA I'll say they don't get the 300x but a 30x is very much in the range of possibilities. That would be $1200 per share without splits vs $400 11/2021.
Click to expand...

Or any other tech stock for that matter. With the 10 year shooting up near 3.85% and gold finally breaking resistance, there is still no positive news out there.
 
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Cmuri said:
Holding my tesla shares and added to my position today. Don’t need the money right now. GLTA
Click to expand...

Tesla Falls to Two-Year Low. Why It May Not Have Bottomed Out.
​

www.barrons.com

Tesla Falls to Two-Year Low. Why It May Not Have Bottomed Out.

Southwest reduces flight schedule as airline chaos continues, Russia’s Putin bans oil to nations imposing a price cap, home prices fell for fourth straight month, and other news to start your day.
www.barrons.com www.barrons.com
 
a big question: can Tesla survive and thrive without the brilliant mind of Elon as the lead engineer?

I’m sure he is still involved but he hasn’t been as focused on Tesla since Twitter. The day he steps down as CEO of twitter, I could see Tesla stock bounce.

Where are the solar roof, semi, roadster 2, cyber truck, self driving car? He is now talking about the Tesla robot but can’t deliver on the other commitments. If they deliver just two new products that can drive revenue similar to the Model 3, Tesla will have no problem getting back to $400+. If they can deliver on all the items, 1200+ is possible.
 
90scane said:
I really hope you sold that Tesla stock. At worst, if you make a ton of income you may want to sell it this week and buy it again next week so you have a loss for taxes. $112! I had a friend buy it at $230 and I told him he is crazy. At the time, I told him it was going to $150. Texted him last week and said, it is heading to $100. Now I'm thinking it finally hits rock bottom around $40-50, 90% drop. That isn't as bad as the 1999-2001 drop off a cliff by Amazon.

Amazon- $4.97 (1999) to $.2825 (2001) - 96% drop
The big question: Can Tesla rebound like Amazon ($84 today - 300x) over the next 20 years? $40 to $12,000! $126B market cap to $37T! HA I'll say they don't get the 300x but a 30x is very much in the range of possibilities. That would be $1200 per share without splits vs $400 11/2021.
Click to expand...
TSLA forward earnings is down to 20 p/e. For a growth stock that is very fair. You're talking about dropping down to single digits p/e for a high growth stock. That's crazy. This thing has to bottom soon.
 
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Canedog said:
I put in a 60 day buy order today for shares of Tesla at $67.50 per share.
Click to expand...
67.5 is a pretty good target. I just think we are going to see a year near the low so no need to put an order in. Just let it hit the bottom, bounce around a little so you know it is at or near the bottom then buy. At least, that is my plan. Tesla isn’t moving due to its financials. It is dropping due to investor concerns and Elon selling 4-5B worth of shares. Once the concerns are gone, if the financials look ok I fully expect the stock to return to its highs.
 
90scane said:
I really hope you sold that Tesla stock. At worst, if you make a ton of income you may want to sell it this week and buy it again next week so you have a loss for taxes. $112! I had a friend buy it at $230 and I told him he is crazy. At the time, I told him it was going to $150. Texted him last week and said, it is heading to $100. Now I'm thinking it finally hits rock bottom around $40-50, 90% drop. That isn't as bad as the 1999-2001 drop off a cliff by Amazon.

Amazon- $4.97 (1999) to $.2825 (2001) - 96% drop
The big question: Can Tesla rebound like Amazon ($84 today - 300x) over the next 20 years? $40 to $12,000! $126B market cap to $37T! HA I'll say they don't get the 300x but a 30x is very much in the range of possibilities. That would be $1200 per share without splits vs $400 11/2021.
Click to expand...
Not to be that guy....but your first rec, doesn't that create a wash sale situation? As in, you couldn't actually claim the tax loss until you close the position?
 
[]_[] swag said:
TSLA forward earnings is down to 20 p/e. For a growth stock that is very fair. You're talking about dropping down to single digits p/e for a high growth stock. That's crazy. This thing has to bottom soon.
Click to expand...
Some don’t see it as a growth stock as it really is a car company at heart to most people. Ford’s PE is sitting at 5. If it is a growth stock, they need to act like it with tons of new innovations. They haven’t rolled out much since 2019. Model y launched in March 2019. Furthermore, their earnings could see some contraction due to the recession and now massive Covid outbreak in China.
 
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AutoCANE said:
Not to be that guy....but your first rec, doesn't that create a wash sale situation? As in, you couldn't actually claim the tax loss until you close the position?
Click to expand...
I’m not a tax accountant. My understanding is that you can claim $3000 of investment losses any year. I personally wouldn’t sell and turn around days later to buy as it is still heading south. The wash rule is 30 days thus my recommendation was off as you do have to wait some. Thanks for pointing it out.
 
90scane said:
Some don’t see it as a growth stock as it really is a car company at heart to most people. Ford’s PE is sitting at 5. If it is a growth stock, they need to act like it with tons of new innovations. They haven’t rolled out much since 2019. Model y launched in March 2019. Furthermore, their earnings could see some contraction due to the recession and now massive Covid outbreak in China.
Click to expand...
For the record I don't like TSLA and I'm not buying it. But even if it eventually is valued as a car company, it is still a growing car company, not a mature company like F.
 
sold Tesla at a loss @180, but just bought a little at @109. They still have a massive mkt. cap.
down 70%. Some of this drop is Elon being Elon, also Tesla has a surplus while other car companies have absolutely zero supply.
Appl in the 120’s is a great price, but covid in Gina is going to hurt. I think it’s a $170.+ stock. They should also being buying back shares along with Google.
 
mr.h said:
sold Tesla at a loss @180, but just bought a little at @109. They still have a massive mkt. cap.
down 70%. Some of this drop is Elon being Elon, also Tesla has a surplus while other car companies have absolutely zero supply.
Appl in the 120’s is a great price, but covid in Gina is going to hurt. I think it’s a $170.+ stock. They should also being buying back shares along with Google.
Click to expand...
I added to apple today. I am fine with adding to that one if it falls below 120 (if we get that gift).
 
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