Speaking of "fallen angels"
The following are tech stocks that are at least 50% off their recent highs (and, in some cases, up to 75% off highs) which are either profitable, have proprietary technology or uniquely valuable franchises, cutting-edge technology, or a combination of the above. I think these are stocks that are examples of "the baby being thrown out with the bathwater."
ABSC, ELON, FFIV, GMST, IBIS, IFCI, GMST, GBLX, LPTHA, MERQ, NTAP, RFMD, SIII.
This is NOT a recommendation to run out and buy these stocks at the present time. The market is extremely negative and, I think, may drift lower going into the May 16th Fed meeting. However, these are quality stocks at extremely distressed levels that I believe are worth tracking. I am not smart enough to know when to jump into some of these, but many of the stocks on the list will be easy doubles or triples in the next 12 months from current levels for patient investors.
Any thoughts or comments on the above stocks are welcomed. I know I will take positions on several of them going into May 16th -- just not sure which ones, as yet. |
