Cloudflare (NET) – up 50% in last 10 days. What’s going on?
It’s on a massive 10 day win streak, up almost 50% from $110 to $160/share.
Yet I couldn’t find any obvious news that would explain the parabolic move.
In fact, it got 2 analyst downgrades: https://www.google.com/amp/s/www.marketbeat.com/instant-alerts/nyse-net-analyst-earnings-estimates-2021-10-2-3/amp/
Its earnings aren’t scheduled until Nov 4, so it’s not a pre-earnings run-up.
4% short interest … not low, but not crazy high like GameStop before the squeeze.
Unprofitable tech companies have generally been sold off with rising treasury yields & reopenings … other peers like Okta are 20% off highs. (I realize yields declined today, but they were rising rapidly over the last 2 weeks.)
What gives? Does anyone have a clue?
Submitted October 14, 2021 at 12:05AM by MarkusEF
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