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BEST - Value Picks Crush Momentum In First Major Reversal Since 2009: What's Next
BEST Inc. American Depositary Shares each representing one Class A
Reviewing the Damage
Many highly popular stocks suffered a sudden and brutal sell-off this week, a reversal that analysts have already dubbed the "momentum crash". The blow was particularly strong in the US, where strong-momentum stocks - those with the best recent record - tumbled 4 per cent on Monday, in the worst one-day performance since 2009, according to Wolfe Research. - Financial Times
As the chart below indicates, this momentum collapse was offset by record gains in value stocks. This phenomenon created a situation where the markets continued to reach new highs despite the