I watched a good friend, Ryan Detrick, interview none other than Cathie Wood a few weeks ago. One comment caught my attention. It was when Cathie Wood referred to that group of stocks that we’ve all fallen in love with as the “Magnificent Seven.”
Her adjustment was to remove Tesla (TSLA) from the group, given its poor performance over the last six months. I also assume that Ms. Wood is also seeing the same difficulties that I see for Tesla stock over the next year.
Tesla aside, I spent a lot of time looking at the charts and data for all seven of the stocks and came away with the feeling that there really are only four or five of these stocks that feel “magnificent” right now.
Here’s a breakdown of how far each company is trading from its recent highs.
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