With the earnings season winding down, there aren’t many sexy stocks left for the /wsb crowd, but one meme stock that announced rather later in the cycle was Palantir (symbol PLTR). Over the weekend, the “traders” were flexing by putting in two hundred thousand dollar and three hundred thousand dollar bets, which in some cases represented most of the net worth of the given party.
Some of the smaller accounts were puzzled……….take note of the answer.
So how did the YOLO trade go? Errr………as I’ve been saying for the past couple of weeks on my show, PLTR looked vulnerable and “post-meme” and, down hard this morning, it’s clear that those short-dated call options are going to be worth toilet paper now.