It is massively too premature to make such a statement, let alone actually believe it to be true:
- A one day intraday bounce after falling approx. 50% over the previous two weeks is not the signal you're looking for, especially when the drop was caused by a breakdown in the investment thesis.
- Calling it at 2pm, when in fact the bounce may just be traders messing with you to ride that bounce and tap out before close - i.e. let's see the price after 4pm.
- The only good news that matters for this company is how it's going to differentiate and compete with the likes of PayPal
- The overall market performance is not yet confirmed to be improved following NASDAQ correction - in fact we may see further weakness in coming weeks/months.
A lot of people just got burned badly over the last two weeks, and there could well be more pain to come. Some caution would be more than warranted.
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