Whale's $11.3M tech stock portfolio crashes, incurring a $4.5M loss

HuoXing Finance reports that, on July 30, according to Hyperinsight monitoring, the whale starting with 0x053f sequentially bought shares of SanDisk, Marvell, SK Hynix, Intel, Samsung Electronics, and Oracle. Today, these six tech stocks have collectively become a “half-off basket”: four of them are down more than 50% from their recent highs, while the other two have retraced over 40%. What began as a bet on a tech stock rebound saw the whale enter positions starting at the end of May, then progressively adding to positions along a “buy the dip” strategy: purchasing Marvell in early June, followed by incremental long positions in SK Hynix, Intel, Samsung Electronics, and Oracle—ultimately building a full portfolio across all six tech stocks. The anticipated rebound never materialized; instead, the market continued to decline. As of now, SanDisk is down 56.8% from its recent high; Oracle, SK Hynix, and Marvell have fallen 52.6%, 52.5%, and 51.8% respectively; Intel and Samsung Electronics have retraced 43.1% and 41.9%. All six stocks are now in deep drawdowns—with none spared. Notably, SanDisk—the first position established—was initially the best-performing trade in this series. After entering at the end of May, the position generated substantial unrealized gains. However, as the price declined, the whale kept adding to the position, eventually wiping out all prior profits and turning them into heavy losses. Last night and early this morning, tech stocks suffered another broad decline, deepening the whale’s losses due to the sunk cost fallacy: as of publication, the total unrealized loss across all six long positions has expanded to $4.544 million, with the total portfolio value standing at approximately $11.3 million. SK Hynix is the largest source of loss, with a single position carrying an unrealized loss of about $2.218 million. The return rates for Intel, Samsung Electronics, and SanDisk have all fallen below -120%; Marvell’s return rate has dropped to -98.8%, with its entire margin deposit consumed. From expecting a tech rebound to continuously selecting new long positions among falling stocks, this whale has ultimately assembled a “half-off basket” through repeated averaging down. Yet even with massive unrealized losses, the whale has not stopped “picking stocks within the half-off basket.” As of 8:00 today, the whale continues to add to its position in SK Hynix...