The zany end-of-day FOMO runup on Thursday afternoon seems a little silly right now, considering some of the post-earnings action. We have SNAP, which is getting destroyed. Incredibly, if you were shrewd enough to buy this thing when it came public 64 months ago, you’d be down about 50% right now.
Facebook (oh, sorry, META) is falling in sympathy.
But it isn’t just social media time-wasters. Intuitive Surgical is also getting zapped hard.
As is Silicon Valley Bank, which a certain someone suggested earlier today might be a good short idea.
But, ya know, as Tesla aptly proves over the past 24 hours, sometimes these after-hours fireworks wind up to be absolutely meaningless by the next day’s close.
