Holding only six tech stocks, a whale suffered a huge loss of $4.5 million by accumulating a "halved basket" along the way.

BlockBeats news, on July 30, according to Hyperinsight monitoring, the whale with address starting 0x053f successively bought Sandisk, Marvell, SK Hynix, Intel, Samsung Electronics, and Oracle. Now, these six tech stocks have turned into a “halved basket”: four have fallen more than 50% from their recent highs, and the other two have withdrawn by over 40%.

It was initially just a bet on a rebound in tech stocks,

This whale started entering at the end of May, then expanded holdings along the “buy more as prices fall” route: in early June, bought Marvell, then continued to go long on SK Hynix, Intel, Samsung Electronics, and Oracle, eventually filling the portfolio with six tech stocks.

The rebound never came, and the market plunged.

As of now, Sandisk has dropped 56.8% from its recent high; Oracle, SK Hynix, and Marvell are down 52.6%, 52.5%, and 51.8% respectively; Intel and Samsung Electronics have also withdrawn 43.1% and 41.9%. All six stocks are in deep drawdown, with no exceptions.

Among them, the earliest long position in Sandisk was once the best-performing holding in this round of trading. After entering at the end of May, the position made considerable floating profit, but as the whale kept adding to it during the price drop, all previous gains were wiped out and turned into large losses.

Last night and this morning, tech stocks fell broadly again, and the sunk-cost effect deepened the losses:

At the time of writing, the whale’s six long positions have expanded floating losses to 4.544 million USD, with the total portfolio value around 11.3 million USD.

Among them, SK Hynix is the biggest source of losses, with a single floating loss of about 2.218 million USD. The rates of return for the positions in Intel, Samsung Electronics, and Sandisk have all dropped below -120%; Marvell's rate of return has also fallen to -98.8%, with all margin invested wiped out.

From expecting a rebound in tech stocks to constantly picking new long positions from falling assets, this whale finally pieced together a “halved basket” with each round of averaging down.