Looks like a blow off top today. If the market makers found some supply of shares then they can start winding it down. No telling if that is the case yet, so many unknowns in this kind of scenario.
The put option pricing is all over the map. Premium getting sucked out even though the stock is way off the highs. I have never seen this kind of weird action where put options went up in value as a stock went higher
Wonder how many newbies chasing the next best thing on platforms such as Robin Hood will get sucked into this stock only to get their ass handed to them.. Can think of a few other stocks in this hyped up bubble category.. Stitch Fix and Tesla comes to mind as well
Yeah, this was an educational moment as far as showing how big some social sites have become and the momentum they can summon.
Ranged 60-160 today, that is probably what it will do all week. $159.18 is now the all-time high. The prior ATH was... $63.77.