There is a new late stage bubble phenomena going on in the stock market right now I'm dubbing it a potential isolated systemic short squeeze.
It's been notably popping up in stock issues with limited float available for trading over the last 10 days. And this is more than an isolated stock or two.
Look at Pitney Bowles ( PIB ) this afternoon.
Trading near $8 a share this afternoon, the stock took off for the heavens, and was trading near $15 in after hours trading tonight. Perhaps their is news on the stock ? But an 88 % gain in a just a couple hours ?
Welcome to this new "out of site, out of mind" world of stock market trading in 2021.
One where valuations,visibility,or anything remotely as sublime as earnings simply no longer seem to matter. In fact,they are all frowned on,.. viciously !
I said this earlier this week about the market and I’ll say it again. Something is rotten in the state of Denmark. I think this is intentional to pull in as many “retail investors” by making them feel invincible. Its just too perfect and I think it’s best described as a simple rope a dope and just when everyone is looking left the market is going to come back with one wicked right.
@kretchfoop901, I agree 100%. I even saw someone yesterday who "bet" all his rent and food money on GME, which is so irresponsible and simply moronic. I fear those that are irresponsibly just blindly jumping on any bandwagon are those who can probably afford it the least, which will scar them for life once it tanks.
Logic knows no leaps/ bounds right now.
Sheer market insanity.
NewbieDownUnder
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@Spawn777, I'm doing very little at the moment, just accumulating cash and doing a few options covering my risk for an up or down move, but I'm just not comfortable with what's happening at the moment.