Re-Entry Burn-up

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Last month, I think the two big “pop culture” markers that signaled a top were (1) Business Week featuring Wall Street Bets on its cover; (2) the absolute obsession with trading Virgin Galactic, which has no profits, no revenues, and no reason to be so incredibly popular. Appropriately, SPCE peaked at precisely the same day the ES did. It lost 70% in a month.

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