The link below looks at the S&P500 companies. While many of the...

The link below looks at the S&P500 companies. While many of the names will not be familiar, by definition they are all very big companies. Last year the approximate market cap entry criteria to the S&P500 was US$13b. There are many staggering falls within this set of companies with only 75 being up 5% or more this year. Over half are down 20% or more. There are 77 down 40% or more YTD (and 28 at 50%+ declines). Within these 40%+ declines are names like Tesla, GM, Ford, eBay, Adobe, Nike, Intel, NVIDIA and META. The decline in some of these big names makes their value proposition at current prices seem pretty good. There will of course be some that fall further, but others will recover back to 2021 prices over the next few years, particularly if the Fed gets inflation under control and starts to cut interest rates.

https://www.slickcharts.com/sp500/performance

What is likely to be needed to light the fuse for ESS's share price is a period of at least price stability in the wider market, if not a return to increases in the wider investment market. This will provide an increasingly large number of investors the confidence to invest in their selected value play (be that ESS or something else).

I've got a few non-battery related stocks that I'd consider selling and recycling the capital if I could sell them at what I'd consider a fair price. They are so beat-up that they also look like there's 50%+ returns available from current prices. This effect from multiple investors slows demand for ESS and a number of other Lithium / Battery related stocks.