Backed by some of the largest hedgefunds. They made huge returns most likely, I know Blackrock did since Jan '23. Top R2000 component.
Debt to Equity low, which kept the buying going. However, Price to Book ratio has been climbing and climbing. In other words, it's fundamentally overbought. They made a ton of money, and will be looking to take their profits. It's not a dividend play, because there are no dividends. At the very least, it was a P/E play, and that means they were in it for the movement and to stir up a rally, which they got. The increases since August '23 have been relatively modest since the big climb up before then.
I think we can expect to start seeing a bit more feeling out in the 650-700 area before we start to get more selling and volatility, and we will get big legs back and forth.
Debt to Equity low, which kept the buying going. However, Price to Book ratio has been climbing and climbing. In other words, it's fundamentally overbought. They made a ton of money, and will be looking to take their profits. It's not a dividend play, because there are no dividends. At the very least, it was a P/E play, and that means they were in it for the movement and to stir up a rally, which they got. The increases since August '23 have been relatively modest since the big climb up before then.
I think we can expect to start seeing a bit more feeling out in the 650-700 area before we start to get more selling and volatility, and we will get big legs back and forth.