People have been bearish on these momentum stocks all year - and there has not been any pullback.
AMZN, NFLX, TSLA - these are all going up not because of fundamentals, but because people continue to expect price increases. It is a self-fulfilling bubble, until the buying stops.
There are some deep pockets throwing money at these stocks on the daily - I don't think it is the retail investor. Just a matter of when they have had their fill, these guys will back off and go in the opposite direction. These things can't go up forever, that is a fact. The question is how far are they going to stretch these valuations before some big players start dumping enough shares to offset their algorithms. I'd say sooner rather than later.
Don't bank on one bitcoin stok scam collapsing overbany particular other one (ie "particularly nflx").
Flying Pigz of a feather all collapse together, and honestly - there iz no "safe harbor" for the calamity around the corner, unless you call a 69% collapse in a 'good' divedend large cap 'defensive' stok safe harbor over a 75-80% collapse in a pig.