Assets can fall further. Much further. Telling people to “hold on” is only correct if this is the bottom, which is basically impossible to accurately predict. Being able to do so would make you incredibly wealthy.
If it’s not the bottom, selling and holding cash and buying in when the market is lower is a better play. Basically, it’s better to lock in 10% losses and buy back in at the 30% loss point then to take the 30% losses.
Walz has been specifically mocking Tesla’s stock plummet these past few months. Hes not saying they are equally important, hes just using this to taunt Musk.
A 1 day 10% drop is a gut punch worth mentioning. Being a meme stock means that the only thing holding it up is the idea that it will always go up. When the meme fades and it has to compete on fundamentals, a car company missing sales targets by 13% in one quarter ain’t gonna do it.