Not heeding @Jil advice?
I see @caiguycaiguy is front-running my GTC buy at $260.
Another article, 5 Top Stock Trades for Wednesday: AMZN, CRON, TSLA, advocating buying at 200-day SMA. The author beats around the bush to avoid saying that directly.
As my own personal rule of thumb, I start to look at many of these growth names when they’re down 35% to 40%.
At $266, SHOP stock will be down 35%, and down 40% at $245.
When these big momentum trades unwind, they’re almost impossible to time correctly. If the selling keeps up, an eventual test of the 200-day moving average may be in the cards.
@Jil Buying SHOP is betting on current leadership’s ability to execute. Failure or success can’t be deduced from financial analysis. Have faith in Tobias Lütke.