Price to earnings ratio is over 1000, everyone and their mother is trying to buy this stock, literally. I had multiple family members (none of whom are involved in actively managed investing or trading) reach out to me asking if I had purchased zoom shares. From a hindsight PoV, at the bottom, it would have made a lot of technical sense to do so, at current prices however, this looks like a BYND situation, where a company is accelerating in price without any clear reason. I don't really have an entry or target strategy yet, will need to watch price closely. I would probably play this via put options rather than margin shorting, because these types of rallies can always peak higher than you think they can.
A decisive breakdown from the "magic line" 30 Daily Moving Average is probably a good place to start.
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Given some recent trend shifts in the industry, and the prominence of work from home. I no longer believe this analysis is valid. Price is still hugely overbought, but I do not anticipate a long term collapse in price.
Was thinking the same thing mate. Can't wait to put the shorts on this.. but we don't wanna do it too early and get run over.
UnknownUnicorn3844238
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@porretta.matt, 100% agreed. Going to have to watch it closely.
UnknownUnicorn7269447
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I wonder, how you calculate the price to earnings with companies, that have negative earnings? Is then a bigger negative number better? Quite some stocks have negative earnings.
UnknownUnicorn3844238
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@c1f32a4b5eef4f088cdc886193af16, Tradingview for whatever reason does sometimes assign them a - number. A company that is not profitable is not being priced based on it's earnings, so I wouldn't really use Price to Earnings in that case. You might want to look at future estimates.