Replying to myself again.
Slid another dollar from a holding support at 57.50. Not long now before it plunges on heavy volume to take out any margined longs anywhere. We could even see large institutional investors cut stakes after-hours. Further plunge to low 40s this week is possible.
Bottom line is market is giving these companies way more credit than they deserve. This company is trading at over 10 times sales. I don't see any meaningful earnings out of this company for years. If you were to do a npv analysis on even optimistic projections it would take long time of growing at way above market rates to get even close to this price. It should be priced right back at where the big ran began closer to 20. Look at the chart and compare it when we had the big drop in NFLX. Same situation in my opinion.