What’s the most interesting play in the markets right now, that I can think of?
It’s all those stocks that went absolutely wild during Covid—back when expectations soared, and everyone thought they’d found the next NVIDIA before NVIDIA even became a thing.
The reason why this is such an interesting trade to me is that if you sift through these stocks—there are at least 200 of them—you’ll now find that the hype has settled. Many of them are now almost at zero.
Consider these once-in-a-lifetime market swings that all happened throughout the Covid trading mania. I am not saying these are buys and sells, they are just examples of what happened. My list can be found further down at the bottom of this post:
- Zoom (ZM): Once trading at a high of $559 in 2020, now down to around $65 as remote work demand normalized.
- Peloton (PTON): Peaked at over $160 during the lockdown; today, it’s barely holding above $5 as demand for home fitness gear faded.
- DocuSign (DOCU): Hit $310 at its peak, now sitting around $68, showing just how much expectations have corrected.
- Shopify (SHOP): While it’s pulled back from its $1700 high to around $70, it’s proven resilient with a clear uptrend and strong user growth post-pandemic.
- Wayfair (W): Rode the e-commerce wave to $350, but as spending patterns shifted, it dropped to $45 before stabilizing.
The trade is in the ones that are still standing, and there are a lot. The list is also fascinating to see how much our economy has evolved. Either they are up once again, holding tightly in a specific basing pattern, or have already broken out.
From my vantage point, this means they’re proving they are much more than just a “pull revenue forward hype trade” and they’re ready for the next round.
I’ve gone through over 200 of them and you can see the ENTIRE list here for free.