Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited.

What does it mean that stocks are “memoryless”?
I think that "memoryless" in this context of a given stock's performance is not a term of art. IMO, it's an anecdotal concept or cliche used to make a point about holding a stock. Sometimes people get stuck... they buy a stock or fund at 50, it goes down to 30, then hold onto it so they can "get back to even". By holding the loser stock for emotional reasons, the person potentially misses out on gains elsewhere.