I want to share with you some of the top seven worst stocks off their 52-week highs to give you some perspective on the current market situation. Keep in mind, this isn’t a recommendation to buy, sell, or trade these stocks—just my personal thoughts and insights. If you want to dive deeper into these topics or work with me, check out the Trader’s Fly site for coaching options, including one-on-one strategies and extended mentoring programs.
1. Carvana (CVNA)
- 52-Week High: $370
- Current Price: $30
- Drop: 92.2%
- Insight: Carvana has seen a massive decline, down from $370 to around $30. This could be a potential buying opportunity if it stabilizes around the $30 support level.
2. Upstart (UPST)
- 52-Week High: $392
- Current Price: $39.50
- Drop: 90%
- Insight: Upstart has also experienced a significant drop. A potential buying point could be around the $30 level, but be cautious as it’s still recovering from poor earnings.
3. Peloton (PTON)
- 52-Week High: N/A
- Current Price: Below IPO price
- Insight: Peloton, once a major pandemic beneficiary, has plummeted. Watch the $10 level, as it could continue to fall.
4. Virgin Galactic (SPCE)
- 52-Week High: N/A
- Current Price: Below $10
- Drop: 88.94%
- Insight: Virgin Galactic is under $10, with potential support around the $5 mark. The trend is still downward, so be cautious until it shows signs of recovery.
5. Marathon Digital Holdings (MARA)
- 52-Week High: $81.91
- Current Price: $9.25
- Drop: 88.93%
- Insight: Marathon has seen significant declines. It’s below $10, and I wouldn’t be surprised if it drops to the $4 range.
6. StoneCo (STNE)
- 52-Week High: N/A
- Current Price: $8.11
- Insight: StoneCo is under $10. Look for support around $6 to $7.
7. Editas Medicine (EDIT)
- 52-Week High: N/A
- Current Price: Below $12
- Insight: Editas has broken below its IPO support level and is heading towards $10. It could go even lower, so watch this one carefully.
Other Notable Mentions:
- Riot Blockchain (RIOT): Currently around $6, watch for support around $5.
- Wayfair (W): Watch the $50 level for potential support. If it doesn’t hold, $30 could be the next key level.
- AMC (AMC): Currently back around $10, it could drop to $7 if selling pressure continues.
Final Thoughts
These stocks have seen massive declines, reflecting the market’s volatility and challenges. If you’re considering these for potential trades, ensure you do thorough research and have a solid strategy in place.
For more in-depth insights, check out our YouTube channel or join our Discord community. If you’re interested in one-on-one coaching to enhance your trading strategies, visit our website at tradersfly.com. Thanks for joining me, and I’ll see you in the next video. Take care!
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