Why is it dropping so quickly? BX 24.65
I don’t follow this stock too closely, but I see no news as to why
1. Lot of folks are loaded with margin debt and bought higher
2. Folks are selling and taking profits in BX, because of their losses in other stocks
3. Mutual funds are taking some profits so they can sell other losers to balance the books
4. Day traders are selling and will buy cheaper to day.
5. When a stock after big run up reverses after new high, there market technicians who feel that was the top of BX and it has only way to go down
6. Option writers are selling so their options become useless.
7. Derivatives, those agreed to buy at these prices but as the price goes lower, they must sell so that they can buy as agreed.
8. Stop loss orders are getting hit.
Please decide how much loss you want or can sacrifice profits turn into losses,