Fully Invested in Six Tech Stocks, Whale Accumulates All the Way to a Halfed Basket, Suffers a $4.5 Million Loss

BlockBeats News, July 30th, according to Hyperinsight monitoring, a whale with address starting with 0x053f has successively bought into SanDisk, Marvell, SK Hynix, Intel, Samsung Electronics, and Oracle. Now, these six tech stocks have tumbled into a "halved basket": with four of them experiencing a drop of over 50% from their previous highs, and the other two also retreating by more than 40%.

What initially started as a bet on a tech stock rebound,

the whale started entering the market at the end of May, and then continued to expand its targets along the path of "buying more as it falls": buying Marvell at the beginning of June, and then successively longing SK Hynix, Intel, Samsung Electronics, and Oracle, eventually filling its position with all six tech stocks.

Instead of a rebound, the market plummeted.

As of now, SanDisk has fallen by 56.8% from its previous high, Oracle, SK Hynix, and Marvell have dropped by 52.6%, 52.5%, and 51.8% respectively; Intel and Samsung Electronics have also retreated by 43.1% and 41.9%. All six stocks have undergone a deep retracement, with none spared.

Among them, the earliest established long position in SanDisk was the best-performing position in this round of trading. After entering at the end of May, this position had achieved considerable unrealized gains, but the whale kept increasing its position as the stock price fell, eventually giving back all the previous profits and turning them into significant losses.

Last night and this morning, tech stocks fell again, and the effect of being underwater continued to deepen:

As of the time of writing, the whale's six long positions' unrealized losses have expanded to $4.544 million, with a total position value of about $11.3 million.

Among them, SK Hynix is the biggest source of losses, with an unrealized loss of about $2.218 million. Intel, Samsung Electronics, and SanDisk have all seen their return rates fall below -120% in three positions; Marvell's return rate has also dropped to -98.8%, with the initial margin being completely wiped out.

From expecting a tech stock rebound to continually selecting new long positions from falling targets, this whale has ultimately, through rounds of averaging down, personally created a "halved basket."

But even though the unrealized losses are already substantial, the whale has not stopped "selecting stocks in the wreckage." As of 8:00 AM today, the whale is still continuing to increase its position in SK Hynix...