Magnificent 7 stock bloodbath

[maxinger]

$700 billion combined market cap wiped of the mag 7 today alone!!!

Nasdaq had its biggest sell off since late 2022. Almost 2 years ago

Yesterday's movement was not that huge.
That is why there are not many happy faces and sad faces.


The last major down movement was about 2 years ago.
In the trading houses, thousands of day traders were jumping
for joy at the end of the trading session.



13 Sept 2022 - NQ down 6.7%
24 Jul 2024 - NQ down 3.6% only

 

[Businessman]

Well, that's why I asked. Not sure if that figure is correct, or if S2007's $700B loss of MC in the mag-7 is correct either.

I was just curious. Reliable links to both would be nice though. If both are correct, I wonder where the other $350B got parked?

Mag 7 had a combined market cap of over $15 Trillion. The Russell 2000 is worth less than $4 Trillion combined (EDIT: its currently worth $3T)

If the Mag 7 lost $700 billion just yesterday, it didn't go into the Russell yesterday as the Russell was also down yesterday.

It looks like the Mag 7 have lost around $2T since the peak earlier this month. While the Russell added $350 billion during the same time.

 

[vanzandt]

Mag 7 had a combined market cap of over $15 Trillion. The Russell 2000 is worth less than $4 Trillion combined.

If the Mag 7 lost $700 billion just yesterday, it didn't go into the Russell yesterday as the Russell was also down yesterday.

It looks like the Mag 7 have lost around $2T since the peak earlier this month. While the Russell added $350 billion during the same time.

Good info.

 

[vanzandt]

Where are you getting that $350B from though? As in a link? I'm not doubting you, I'd just like to bookmark where you got that from.

 

[zdreg]

WRONG

Tesla is down almost 50% from its high (you might have meant 52 week high, but you didn't say )

Boeing had a number of 50% drawdowns over decades and still turned in a terrific return. If you believe in Tesla and have a 30 year+ horizon, now is an excellent buying opportunity.

 

[Businessman]

Where are you getting that $350B from though? As in a link? I'm not doubting you, I'd just like to bookmark where you got that from.

350 was some quick mental maths.

Each Russell point is worth about $1.35 billion. I got that from historic data sources using google.

The russell ran up 250 points in the most recent run, so about $337B was added. Although it gave back some of that yesterday when it sold off almost 50 points.

 

[Businessman]

If you believe in Tesla and have a 30 year+ horizon, now is an excellent buying opportunity.

30+ years , we all want the next NVDA that runs up 10x in one year

(or the 10x TSLA did the 12 months after covid hit )

 

[VicBee]

Didn't see SPOT on your list... Doing just fine.

 

[VicBee]

30+ years , we all want the next NVDA that runs up 10x in one year

(or the 10x TSLA did the 12 months after covid hit )

Seriously, who cares about 30 years, I'll be long dead by then. Long term is 5 -8 years max!

 

[S2007S]

Boeing had a number of 50% drawdowns over decades and still turned in a terrific return. If you believe in Tesla and have a 30 year+ horizon, now is an excellent buying opportunity.

So you are counting on robo taxis and robots to be the driver of tesla in the next 30 yrs??

I believe he stated that every one will have one of those humanoid robots that are selling for what $20k ? And did he say he was going to sell billions of these humanoid robots?? Hmmm yep.