Dear Ffdy1985,
I cannot comment on/give any more guidance on projects here than I have in press releases…it is just not allowed.
However, I can discuss overall market activity if that would help.
Allow me to share some information Steve McCormick and I reviewed last Friday.
I think we would all agree that the broader market is truly in a bear market sell-down.
Small cap growth stocks are taking the biggest hits, but some of the most successful stocks are experiencing a terrible time as well…we are all in this ship together.
One does not have to look far for examples:
Tesla down 21% the past month, 37% in the last 6 months, 44% year to date.
Netflix flat for the month but down 37% the past six months, 62% year to date
Shopify down 9% the past month, 54% in the last 6 months, 76% year to date
NVIDIA down 12% for the month, 50% in the last 6 months, 60% year to date.
Facebook down 17% for the month, 40% the last 6 months, 60% year to date
AMD down 25% for the month, 43% for the last 6, 60% year to date
Adobe down 24% for the month, 36% for 6 months, 50% for the year
Intel down 16% for the month, 46% for 6 months, 51% for the year
Palantir up 11% for the month, but down 36% in the last 6, and 65% for the year
Amazon down 12% for the month, 27% in the last 6 months, 33% year to date.
Target down 12% for the month, 33% in the last 6 months, 35% year to date
Verizon down 10% for the month, 30% in the last 6 months, 30% year to date
And none of these are small cap growth stocks, which have been hit harder.
Further to that, the key is that it’s not performance related, as is clear from the companies above. It is simply money coming out of the market into different investments (bonds and cash especially) as the economy settled, interest rates rose, and profits were removed from the market as a hedge against the economic downturn. Few companies seem to be immune.
The question you ask is answered by taking perspective. It’s the whole market that tells the story, not just one stock (The Dow Jones was down almost 700 points Friday the Nasdaq another 400 points…both were down almost another 100 points each today, Monday)
n fact almost 500 companies hit their 52 week low last Friday alone. Including all four major Canadian banks CIBC, Scotiabank, TD Bank, and BMO. www.barchart.com/stocks/highs-lows/lows
Anyways, I can go on and on, but I will leave it at that and give credit to Steve for all the work he has done to keep me informed.
Hope that Helps,
Peter