Unless you are living under a rock or you became a rock, you would know that tech stocks - especially shares of Ark Invest, which were once darlings of Wall Street - are having a meltdown. In my view, the current sell down is attributed to plenty of risky investing behavior in the past few months. These include speculating meme stocks, punting penny shares, and investing into the SPAC mania with no fundamentals; these were further fuelled by the rise of many new trading platforms with zero commission fees.
Truth to be told, my growth portfolio was not spared either. Instead of this month’s usual stock analysis, I will be sharing my strategy on what I am doing in these turbulent times.
Invest in FAANG Stocks
I would buy into FAANG (Facebook, Amazon, Apple, Netflix and Google) stocks to benefit from the stock market recovery earlier.
The...