5 Stocks Now At The “Just Get Me Out” Stage
These 5 stocks are now reaching that stage of capitalism known to insiders as the “just get me out” stage. This used to be the time when investors would call their brokers and mouth the words. Now, of course, it’s just a matter of clicking the sell button once you’ve connected to the internet. No middle person required.
You’ve held on for as long as you can, convinced that sooner or later, the stock you fell in love with last year will finally turn around and rally. Instead, you wake up every morning to an even lower price and it’s become unbearable to think that your once-perfect idea is back on the new lows list yet again.
These 5 are receiving the sell button clicks:
Chunghwa Telecom Co. LTD (NYSE: CHT)
From 43 in April to 33.60 in October, that’s a 22% drop less than 7 months time and with a gap down on decent selling volume to top it off. Investors have decided that China’s constant threatening of Taiwan is serious and concerning. Hence, the steady unloading of the big Taiwanese telecom with a relentless bearish look through September and October, culminating in today’s gap down.
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Generac Holdings Inc (NYSE: GNRC)
Now that’s a gap down, folks — and on extraordinarily heavy volume, a confirming indicator of the bearishness. The company’s 3rd quarter report, out today, is a profit warning that points a finger at far fewer sales than expected in their home generator business. It may take quite some time for this price chart to begin to recover — that’s the look here.
CarMax KMX Inc (NYSE: KMX)
The big “just get me out” session took place on the last trading day of September where the stock gapped down from 82 to 75 in one fell swoop. Today’s session could not possibly match that day, but the selling to a new low is an example of the continuation of the initial vibe. Just look at those moving averages: it’s as if they’re in a competition to see which can decline with the most force.
Taiwan Semiconductor Manufacturing Company (NYSE: TSM)
This one is not as bad as the others since it might be considered a test of the earlier October low. Nonetheless, it remains the case that today was another session of selling that keeps the price below both the 50-day moving average and the 200-day moving average, both of which are in decline mode. It doesn’t help that China is sounding extra -belligerent about Taiwan lately and that, if there’s a serious recession, TSM’s big customer, Apple AAPL , is likely to require fewer semiconductors.
WeWork Inc (NYSE: WE)
Well, it seemed like a good idea to some. The price has collapsed from a 2022 peak of $8 to the current price of $2.01. That’s a 75% drop about 4 months, a spectacular bit of selling for a New York Stock Exchange traded security. Today’s gap down is a clear example of the “just get me out” style with some traders just pressing the sell button and keeping it there.
Not investment advice. For educational purposes only.