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The Russell 2000 futures rocketed higher this morning to a lifetime high, then I noticed they did a perfect about-face at a line I had drawn a while ago. I was naturally curious what this line was, because longer lines tend to be more meaningful than short ones, and I wanted to see if this went back just a few days.
Perhaps you’ve heard of the latest meme stock: Luminar. It was started by a 17 year old kid. He started at Stanford, but he dropped out to work on the company, thanks to a Thiel Foundation Grant. Now, at 25, he’s taken it public via reverse merger. He’s got a net worth of $4 billion on this beast. It has, as you can see, roared about 300% higher in a matter of days. The ticker is LAZR: