Hey Scoopers,
Last week we all went through the fastest 10% drop in the history of the stock market in the last few decades. But just because it has dropped rapidly, does it mean this time things are different? — more on that in the “Overall Market” section.
Aside from that, if you’ve been with us for a while, you’d know that Mondays are IPO Review days. However, this week, we decided to interrupt the usual programming to bring you a special edition of the Daily Scoop.
We’ve put together a list of top four stocks to consider and research if you are ready to take advantage of the coronavirus dip.
But first, here is a recap of what happened in the market on Friday:
Market Recap
- U.S. markets: The Nasdaq stopped its descent on Friday while the other two indices continued to fall, but only slightly. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price finished the week under the $9,000 mark.
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Is This Time Different?
What happened last week?
“This time is very different. The world is coming to an end.” That’s what it feels to many new investors. “This stock market decline is the worst.” That’s what they say.
In reality, this is just the fastest 10% decline in the stock market history in the last few decades, not the most severe one.
Since 1981, there have been 25 10%-drops in the stock market. We survived them all. Just two weeks ago, we hit an all-time high. The chances are, we will survive this new drop too.
The combination of digital media, social media, and algorithmic trading has caused a rapid decline. It doesn’t mean this stock market decline is anything unique or different from every other drop in the history of the stock market. We feel the pain more because of its speed
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Coronavirus Dip
Being greedy when the market is fearful is a mantra most of us have heard. It refers to situations such as what we are in now. The rest of the market is fearing the worst and selling off their holdings day after another. The decline is now big enough to consider being greedy. It’s time to get ready to buy stocks at better prices than what you couldn’t have imagined just two weeks ago. There is no rush though. As a matter of fact, the futures market during the weekend is indicative of another rough week. But, savvy investors get ready. Put a list together, and gradually, slowly, and steadily start buying.
To help you get started with your coronavirus dip portfolio, we have a list of top four stocks to consider:
