It's kind of impressive at this point.
I think Uber is another company that gets away with this. I would be curious to hear any and all bull cases.
just like the rest of NDX irrational tech bull - it doesn't make sense
Robinhood kids are in SNAP that's one of the reasons
Facebook & twitter bailed out money
but my gut feeling tells me, this is money that doesn't know where to run to - and tech was somewhat resilient to covid ( i would call it a hedge play )
but moving forward i don't think these kind of plays will matter much, near the elections, NDX wave 2 targeting 8500 ish - all cards will be reshuffled
That should take some time, personally i see 19.5 levels soon & will assess again for a solid entry point. once that confirmed i see long term tgt in 100$ area coinciding with Wave 3 impulsive trend
however in all fairness and this is a point we all seems to overlook
( Charts are not reliable anymore : )
Reason : Robin hood kids, they should wash off with NDX upcoming correction & they will disappear as fast as they appeared
Safe trading all, get some pop corn and enjoy NDX correction soon ( i hope )
ps. its really impressive that just from shorting the FANG in past two days, that affected the index this much