Small cap's IWM got destroyed two consecutive week's now - tanking 4% last week and 5% this week. New Covid variant is why re-opening economy stocks are getting sold off, Fed Tapering is the second reason why many growth stocks are tanking and De-listing of Chinese stocks from US Market is causing Chinese names are getting sell off.
Some of the notable movers on the down side are:
Fed Tapering Growth Names Plunge: NFLX, CRM (-9%), FB, ADBE (7%), TSLA (6%), DOCU (-45%), ASAN (-36%), ESTC (-26%), HOOD - AFRM - DKNG - BILL - ETSY - NET - TOST - QS - S (-20%),
MQ, MNDY, ZI, U, UPST, PLUG, SOFI, ZM, MELI, PINS, DASH, TDOC (-15-20%), CRWD, W, SE, VEEV, ROKU, MDB, COIN, ENPH, DXCM, UBER, SGEN, PATH (-10-15%)
Other Notable sellers are: YOU, SKIN, INMD, AI, SI, LAZR etc (more than 15% sell off).
Chinese Tickers due to delisting: BABA (-16%), PDD, BILI, NIO (-20%), TME, XPEV (-15%), JD (-12%) , IQ (-27%) FUTU (-20%) etc.
Few Names that ended the week on positive are: ABT, AAPL (3%), certain chip names such as AMBA, MRVL, ON, NXPI, MCHP as well as Z (due to Buy back news), HPQ (good ER) and SHW (at all time high), and some biotech names such as (VIR, ADGI).
Next Week - watch out for re-opening the economy stocks rebound as new variant does not seems to be that deadly.
