We’re seeing another monster day in the market — the past five weeks have had amazing options flow… and it just keeps rolling! Trading has been aggressive and following that “paper,” as the kids say, has led to some fantastic trades in the brutalized, beaten-down tech stocks. The “hated” Cathie Wood, Ark Invest tech holdings like Upstart are peppering the tape in size right and left. Shares of the online lending platform are up more than 19% after fellow fintech SoFi soundly beat earnings expectations, strapping a rocket to the whole sector. When I say these names are “hated,” I just mean they’re some of the most highly shorted stocks in the market... With the short float over 35% on UPST, when a stock like this sees good news, those bears get their shorts squeezed straight to the moon... and I love it! The tape might as well be a Cathie Wood greatest hits album. Look at these names...
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