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Magnificent Tech Stocks

Magnificent Seven ETF (MAGS) - Edition #1

Luis Ricardo Guizado

Luis Ricardo Guizado

— 2 min read
Magnificent Seven ETF (MAGS) - Edition #1
  • The Roundhill (MAGS) ETF tracks the price of the most extensive seven tech stocks comprised of Apple, Amazon, Google, Meta, Microsoft, Nvidia and Tesla
  • The so-called Mag7 tech stocks have seen $1.1 trillion in value erased in a five-day stock sell-off by July 17th close, the most since the 2022 bear market.
  • This marks the 3rd largest drop in market cap on record. 
  • Nvidia (NVDA) alone lost ~$418 billion in value. And not to tell you so but… yes, we told you so in our NVDA - Edition #1 to be CAUTIOUS.
  • Below’s a sneak peak of the report:
Complete NVDA report here: https://www.zelf.trade/nvidia-corporation-nvda/

Anyways, going back to MAGS ⚠️ Caution ⚠️

  • Yes, still be cautious. Not that this has to happen but be aware price may continue to retrace before further upside. In other words, manage your risk accordingly if you do have positions on these tech stocks. 
  • We could have a correction to around $44 price range and on the long run we'll still be bullish. Most of the Mag 7 stocks look strong but a possible retrace across the board is still in play.

  • We have been posting macro and short term outlooks on all seven tech stocks that comprise MAGS and will continue to post updates. Here you’ll find our MAGS individual stocks reports : https://www.zelf.trade/tag/mag-tech/

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