The stock market, and a market of stocks One of the phrases I always liked was it’s a market of stocks not the stock market. That is, no matter what the market is doing, there is a market of stocks not just a stock market, as individual equities can perform or under perform.
sometimes this helps you stay grounded when your stock does not go in the same direction as the stock market.
Having said that many times stocks do move in lockstep with the market, and when we are in situations like now with the large cap /tech stocks that move the market, the market is those stocks. But it’s always good to look at your stocks and say where does it fit? How is it doing and what does this mean?
So looking at PYR, When you look across the 1-month, 3-month, 6-month, 1-year, 2-year, 3-year, and 5-year charts and see them all pointing down, remarkably so. Take a look at the charts and click on them and it’s just amazing to see that progressively. It looks like a downhill slope. A scary downhill slope to me, A progressive destruction of someone's capital.
. Yet over those same intervals, the S&P 500 has delivered +2.9% (1 mo), +8.5% (3 mo), +17.1% (6 mo), +17.2% (1 yr), ~23.9% annualized (3 yr), ~16.8% annualized (5 yr)
So yeah, it is a market of stocks, and PYR has demonstrated that with a 95% decline, it’s a house of pain!
Still, take a look at the fundamentals and say maybe the market has it wrong? Declining revenue, growing accounts, receivable, and backlog, regulatory inquiries, negative working capital, insider sales, ...
Yup-It is most definitely a market of stocks, and this is a stock, but I am quite happy. I didn't buy after it was recommended by science first.