You are correct and big-ticket items will be hit hard and first. EVs are more expensive because of all the features and basic cost to build . We all drank freely of the free cash during covid. It is now time to take the medicine to cure the after effects of out gluttonous behavior. Lots of opportunities for those that understand to make money. Funny people always want to help the poor by giving away money. Every time the rich get richer and poor get poorer both with the giveaway and with the cure.
You are correct in the short term but lets take a look in 6 to 9 months.
Pretty desperate. A good rule of thumb is wait at least a week or two before declaring and new trend. Now we are so desperate that even a short, Less than 4 hours, is a cause for celebration. 4/4 ID high 11.59 to day just 6 weeks latter 9.50 down 22%. Should we not wait till we recover at least half of that say 10.75 before we say there is a turnaround. Look at all the people that said we would be over 11.00 real soon in the last few weeks when we had small runups.
LYC Price at posting:
$9.50 Sentiment: Sell Disclosure: Not Held
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