Look at the macro, then the sector, then the stock.
SPT already increased 100%+ as did pretty much every other stock, has nothing to do with the fundamentals of the individual stock, it's all about liquidity in the marketplace. August is typically a consolidation month, you can expect a chop shop formation with a solid base to build before the election money printer is turned on.
The macro is supportive of a melt-up phase in the markets with plenty more stimulus to come (SPX ~4000) however there will be a deflationary bust as the banks/real economy are simply not seeing any benefit (HSBC just reported 60%+ profit dive... huge implications there).
So where does that leave the whole BNPL sector? These are all pretty much following the tech sector (QQQ's), if the Q's keep going up expect good things to happen, if the Q's start making lower lows, expect bad things to happen.
The short term charts all point to SPT having a crack at around $2.70-3.10 area, if this CR is seen as bullish by the market (probability says yes) then we are going to achieve those targets.
Overall looks bullish, but $10 isn't even on the horizon at the moment especially if the banks start to roll over later this/next year.
SPT Price at posting:
$1.37 Sentiment: Buy Disclosure: Held
