NVDA - Some A-List Stocks Might Have Sandbagged Guidance Offering Great Opportunities
2024-03-18 00:18:32 ET
Summary
- Some great tech stocks have experienced significant drops, but this may be part of a sideways correction process.
- Adobe, MongoDB, Snowflake, and SentinelOne are tech stocks that have the potential for recovery and offer good trading and investment opportunities.
- These stocks may have "sandbagged" their guidance, deliberately lowering expectations to exceed them in the next quarterly report.
Some of you devoted tech investors and traders might have been surprised by how some great stocks have fallen seemingly through the floor. I believe that part of this is part of a sideways correction process where the high-flyers are giving up gains, but those funds are being distributed elsewhere. Corrections can happen in a downward swoop or stocks can correct in a sideways motion over time.
The indexes haven't shown us a typical 3% to 7% or even 10% correction that happens more than once a year. Instead, we are witnessing a rolling correction where certain sectors have gotten a bit over-bought, meaning everyone who wanted to buy that fantastic shooting star already bought some shares. The funny thing, when everyone's a believer and the hype is at its zenith that is when the seeds of destruction are planted....
Some A-List Stocks Might Have Sandbagged Guidance, Offering Great Opportunities