Yes, definitely for those that have a heavy debt load or that are unprofitable. SaaS companies are especially interest-rate sensitive, because it's a pretty crowded space with a lot of unprofitable ones. Since the whole cycle started in February 2021, SaaS rolled over and then rolled over again in November 2022.
Around October 2022 and again in November, it was down at the base, and that will be very strong support. With the runup, the selloff is not surprising, but he'd call it more of a consolidation. As long as the NASDAQ stays above the 50- and 200-day moving averages, you can still call it a consolidation.
His largest holding now. He can hold onto a losing stock because he makes it up with his hedges. He understands its intrinsic value. Price target of $121, very decent 20-25% runway ahead. So many horses in the race. Bard is strategic, last week's stumble was not much of a mistake.