Don’t look now, but here comes another Warren Buffett quote.
“Buy the dip,” the chairman and chief executive of Berkshire Hathaway (BRK.A) once declared.
But long before the legendary Oracle of Omaha, Nathan Rothschild, a 19th-century British financier and member of the Rothschild banking family, supposedly said, “The time to buy is when there’s blood in the streets, even if the blood is your own.”
You could probably take a bath in the all the blood that’s been spilling onto the streets lately. A brutal multiday selloff has dragged the S&P 500 close to the 10% drop that marks correction territory.
Some investors might be thinking of another quote that goes: “Everyone wants to buy a dip until they are looking at it.”
Tech stocks, especially stocks in artificial intelligence and the Magnificent 7 equities, have been hit especially hard.
Rep. Marjorie Taylor Greene (R-South Carolina), chairwoman of the Subcommittee on Delivering On Government Efficiency, on Feb. 12, 2025. Greene disclosed a number of stock purchases on March 9.
James “Rev Shark” DePorre says that despite the ugliness, the action wasn’t totally lopsided.
“Around 100 stocks were making new 12-month highs and the advancing volume was around 75%,” DePorre said in his recent TheStreetPro column.
“Energy, biotechnology, dividend-paying stocks, consumer goods and pharmaceuticals exhibited relative strength.”
Congresswoman buys tech stocks
On the subject of tech stocks, among others, Rep. Majorie Taylor Greene (R-Georgia) filed paperwork on March 9 detailing her stock purchases.
The Stop Trading on Congressional Knowledge Act of 2012, the Stock Act, requires members of Congress to report stock trades within 45 days.
Greene disclosed that she had bought stakes in electric-vehicle maker Tesla (TSLA) , cybersecurity company CrowdStrike (CRWD) and retailer Dollar General (DG) .
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She also bought stakes in:
investment bank Goldman Sachs (GS) iShares Bitcoin Trust (IBIT) radio-frequency-ID technology company Impinj (PI) graphics-software specialist Adobe (ADBE
) software and cloud-services provider Microsoft (MSFT
) rail operator Norfolk Southern (NSC) , and,oil-and-gas producer Devon Energy (DVN) .
The value of these stakes ranged between $1,001 and $15,000 each. The House Clerk’s Office does not require representatives to provide exact figures.
“Just in: Marjorie Taylor Greene MTG is buying the dip,” Nancy Pelosi Stock Tracker said on X. “Does she know something we don’t? Maybe.”
Tesla shares saw their worst day in five years on Monday, dropping more than 15%, due largely to CEO Elon Musk’s controversial work with the Trump administration’s Department of Government Efficiency, which is chopping its way through the federal employment rolls.
The stock was down 45% in 2025 through Monday’s trading. It recouped a bit on Tuesday.
Analyst maintains bullish Tesla stance
President Donald Trump has said he’ll buy a Tesla to support Musk.
Musk, who bought X for $44 billion, said on the social media site that Tesla stock “will be fine long term.”
Wedbush analyst Dan Ives feels the same way. He maintained his outperform rating and $550 price target on Tesla shares.
Related: Why Tesla stock got clobbered today
“Today’s brutal Tesla selloff will go down in the history books for Tesla investors and a painful day for the bulls (including us),” Ives wrote in a research note.
“The protests at Tesla dealers over the weekend, violence seen at Tesla drivers around the country/Europe, and more Musk-related brand worries and distractions related to Doge/Trump administration have been an albatross over Tesla’s stock with a horrific 2025 so far,” he added.
Nevertheless, Ives maintained, “If every time we threw in the white towel on the Tesla name when it got hot in the kitchen, we would have missed one of the most transformational growth stories in modern history.”
“Is this a pleasant time for Tesla bulls?” he said. “NO. Clearly the Musk Doge distractions/brand issues have taken on a life of their own and that has created a black cloud over Tesla’s stock.”
Ives said that while the Doge-Trump connection has created major brand worries for Tesla, “we estimate less than 5% of Tesla sales globally are at risk from these issues despite the global draconian narrative for Musk.”
Last month, Greene was roasted by her political opponents following reports that she had purchased between $4,000 and $60,000 of Tesla stock on Jan. 8.
Critics complained that Greene bought the shares after she had been selected to chair the House Doge subcommittee.
Related: Veteran fund manager unveils eye-popping S&P 500 forecast
