These are not only the “magnificent seven” stocks feeling the impact of the recent sales action.
Highfliers like Netflix (NFLX), AMD (AMD), Micron (MU), Dell (Dell) and Palant (PLTR), among others, were also swept away in this last market rout.
The Netflix action has decreased by more than 10% compared to a month ago, and some to Wall Street warn that its recent volatility signals a more sinister image of the current stock market.
“When the NFLX drops by more than 9% in one day, it tells me that we are starting to see a certain panic,” Mizuho Jordan Klein analyst wrote in a note to customers on Friday.
Klein added that although some analysts have recently called the Netflix heavy content expenses and the possible opposite winds, the company always presents “a pricing risk, a pricing power and almost the test of the recession”.
Consequently, a significant drop in a day of the stock “tells you that people simply want to reduce all exposure to shares at the moment,” he said.
Other non-mag 7 players have highlighted this feeling for a month. AMD and Micron are down approximately 13% and 6%, respectively. Palantir’s actions, a previous dynamic game at Wall Street, dived 30%. And Dell’s stock dropped by around 20% over the same period.
