This is clearly meme stock territory. It's totally disconnected from fundamentals. There are no known fundamentals, be prepared to lose potentially everything else.

Matt Kennedy

There was some worry about unicorn IPOs after Lyft( LYFT) disappointed but Zoom and Pinterest show there's an appetite for highly valued startups, it's [ growing ] blazing fast and highly profitable. It wasn't cheap when it priced its IPO, but despite it being given premium valuation it surged further today.

This IPO market didn't help. by Matt Kennedy

This IPO market didn't help.

Uber and Lyft are the headlines. But If a company has good fundamentals it will get interest, there are a large number of companies that have prepared for IPOs by getting their financials in order.

We could see fewer — but bigger IPOs — this year. The unicorns may be more insulated unless the broader market gets even more volatile.

For years, startups generally followed the same playbook, which was grow as fast as possible at whatever the burn rate, that's what their investors wanted to see. Capital was cheap, so losses didn't matter.

This is a major sea change, for years, startups generally followed the same playbook, which was grow as fast as possible at whatever the burn rate. That's what their investors wanted to see. Capital was cheap, so losses didn't matter.

This is extremely unusual, especially now, we saw significant pops during the height of the The Trump SPAC bubble. Nowadays it's rare to see a The Trump SPAC pop more than 10 %.

Be prepared to lose potentially everything else, this is a stock trading purely on momentum.