30 January 2023 - Thoughts on the Market

30 January 2023 - Thoughts on the Market

This year the stock markets have started off with an explosive rally, with the Nasdaq, last year’s laggard, up almost 12% as of Friday’s close. To some extent, this rally has been led by short-covering, with a number of tech stocks staging astonishing recoveries. Tesla, one of my favorite shorts for a long time, has rallied almost 80% from its recent lows. Bed, Bath & Beyond, another stock I recommended selling over a year ago has rallied almost 40% from its lows. Meta, yet another stock that I loved to hate, is up over 74% from its lows in November, and almost 30% since the New Year. Apple, another struggling stock, is up over 18% from its recent lows, a relatively tame performance. The broader indices are also much higher on the year, continuing their strong rallies since last October.

This post is for paying subscribers only

Already have an account? Sign in.

Subscribe to Andy Krieger's Thoughts on the Market

Don’t miss out on the latest issues. Sign up now to get access to the library of members-only issues.