I’ve never traded Upstart (UPST) before, but I bought puts on it today, based on its very clean head and shoulders pattern.
So what? Who cares? Well, this is unusual, because the stock has already been RAVAGED. This thing used to be over $400 and now it is in the 20s! So I’m not just how much juice I’m going to squeeze out of this lemon, but I’m going to give it a shot.
Upstart’s most famous moment was probably on CNBC, when this goober couldn’t even explain what they do. I actually have NO PROBLEM with that, because I often trade stuff whose purpose I don’t know. My problem is that he should have said, “I don’t know what they do, and it doesn’t matter. I am trading on price momentum” (or whatever). Instead, he exercises the skilled lying techniques of a 3 year old boy.
I mentioned this to him on Twitter, and the result was instantaneous.