Bloodletting is thought to have originated in Egypt several thousand years ago. Bloodletting became standard medical treatment in medieval Europe to treat various conditions including plague, smallpox, epilepsy and gout. Investors continued the bloodletting in Thursday’s trading session. Despite the blood and emotions, there is plenty of room for stocks to drift further downward. Many technology companies have seen their stocks reach levels last seen in Q3/Q4 2019 which was hardly a trough. Only “newbie” names such as Slack are finding new lows. We provide examples (and charts) below.

• Adobe (ADBE): Stock price at August 2019 levels.
• Box (BOX): Stock price at July 2016 levels.
• Dropbox (DBX): Dropbox is finding new lows.
• Facebook (FB): Stock price at January 2019 levels.
• FactSet (FDS): Stock price at October 2019 levels.
• Microsoft (MSFT): Stock price at October 2019 levels.
• Oracle (ORCL): Stock price at February 2017 levels.
• PayPal (PYPL): Stock price at October 2019 levels.
• SAP (SAP): Stock price at February 2019 levels.
• Slack (WORK): Slack is finding new lows (off 19% after-market).
• SS&C Technologies (SSNC): Stock price at August 2019 levels.
• Workday (WDAY): Stock price at November 2018 levels.

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