Good evening, Buliosians! How are you going to take advantage of the current market downturns?📉
Of the growth companies, $SOFI, $MRVL and a number of others I've been following for a long timeare getting pretty interesting prices for me . These two companies have seen tremendous growth in the past year, but despite quality results the price is down significantly.
SoFi Technologies
Is a fintech company that focuses on digital banking, personal loans, mortgages, and investment services. The company has seen huge growth in its user base and over the past year the share price has risen by more than 90 %. However, from this year's highs, the stock is already down more than 37 %. With an interesting outlook on this company, I'm thinking about gradually diluting the position.
Marvell
This is a semiconductor company that specializes in chips for data centers, artificial intelligence (AI)5G networking and cloud computing. Shares of this company have risen by more than 100 %. However, it has now fallen from its peak by more than 47 %. Nevertheless, the results were not bad at all.
How are you managing the current stock market downturns? Is anyone starting to overbought yet? What titles are you looking at at the moment? How do you view the more defensive companies in the current situation?
I'm at a loss on $SOFI right now, but I'm diluting it and slowly adding to it😂
Both stocks are cheaper now and it's not that expensive anymore. As for the semiconductor sector, I bought $AMD.
Exactly as you write, the results weren't particularly bad for $MRVL but that's at least a chance for an entry. I like the company too, they have growth potential and one of their customers I think is Amazon. I've already established a position here. 😊
The $SOFI is dropping nicely right now and I'm also diluting the position. To me, this is a quality business and given the great results, the drop was overdone.