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No. of Recommendations: 6
The carnage in the hypergrowth tech world is truly astounding. Some names have gotten to 2000-01 levels of damage (after '99 levels of overbought), but it's worse because it's happened in what, 8 weeks? (e.g. Upstart).

While Upstart has been slaughtered, it's still a long way from reaching the total drop seen by speculative tech high-flyers in 2000-2001.

Updated from what I posted on the BRK board recently:

Saul stocks have dropped ~40% on average since November? That could happen again, again, again, again and AGAIN before they find bottom.

As Naj pointed out over at Sauls recently, Amazon went from 113 down to 5.5 from Dec. 1999 to Oct 2001, even while Amazon was executing their business expansion remarkably well during that time period.

UPST is almost through its 3rd 40% drop from its high of $390 back in November, closing at $93 Friday, while a price of $84 would complete the 3rd 40% drop, with 3 more to go before dropping as much as Amazon did.

Of the 'Saul' stocks I've superficially reviewed, Upstart looks the most interesting because they're still in robust hyper-growth, have a huge market to address, and they are already showing net GAAP profit. I'm not buying it yet, but if does fall way further from here, I'll probably pick some up.
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