Wall Street seeks a major rebound after the tech-driven crash. These names could be the ones that lead the initial surge higher if it succeeds. Tech-beavy Nasdaq Composite rose 1.8% on Friday, as dip investors waited for a resurgence after the recent painful crash. Already in bear markets, the Nasdaq Composite is down 29% since its November high. If the market is able to recoup some of its steep losses in the near term, then the big losers of this year could see a spectacular comeback. This screen shows the potential leaders. We zoomed in on stocks whose stock prices were cut by half. Names that had more than 10% of float (shares available for trading) sold short. Russell 1000 names names that have jumped over 5% Thursday traded higher. Carvana rose more than 15% despite another Wall Street downgrade Friday. Rivian went up 10% and Upstart went up more than 5%. These stocks were the most affected by the turmoil in stock markets this year. Unprofitable high-growth tech companies got the worst of it due to rising interest rates, which lowers the future value of their earnings. These stocks could lead to a decline in stock markets, so it is worth considering investing now.
Traders in the NYSE Floor, May 10, 20,22.
Source: NYSE
Wall Street wants to recover from the tech-driven crash. If it succeeds, these names will be leading the initial rebound higher.
