Friday Fast Five - 10/9/2026
by Hodges Investment Team, on October 9, 2026
Five interesting things that Hodges Capital research analysts discovered this week...
#1 USED VEHICLE PRICES: Wholesale prices, or what dealers pay for vehicles at auction, continue to fall. For the week ending October 3, Black Book's weekly wholesale data for 2- to 8-year-old vehicles showed the overall market declining another 0.73%, following a 0.71% drop the previous week.
#2 BEAR MARKET: According to Morgan Stanley, 89% of stocks in the Russell 3000 Index are down more than 10% since June 1. Additionally, 54% are down more than 20%, 29% are down more than 30%, and 7% are down more than 50%.
#3 AI: Artificial intelligence is helping researchers identify promising drug candidates faster, reshaping how new pharmaceutical treatments move from development to clinical trials and ultimately to patients. What once took years of laboratory research and validation can now happen in months, as AI-powered platforms identify promising drug candidates, analyze vast biological datasets, and accelerate early-stage development.
#4 MALL TRAFFIC: According to Hedgeye, mall traffic remained healthy in September as consumers continued to shop despite broader macroeconomic concerns. Visits increased 5.6% year-over-year at open-air shopping centers, 5.5% at indoor malls, and 4.1% at outlet centers.
#5 QUOTE OF THE WEEK: "The big money is not in the buying and selling, but in the waiting." — Charlie Munger
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This discussion is not intended to be a forecast of future events and should not be considered a recommendation to buy or sell any security. Past performance is not indicative of future results. Investing involves risk. Principal loss is possible. Investing in smaller companies involves additional risks such as limited liquidity and greater volatility. No current or prospective client should assume that information referenced in this communication is a recommendation to buy or sell any security or is a substitute for personalized investment advice from your individual advisor. HCM does not provide tax or legal advice. Consult your tax or legal advisor for any related questions.
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