Chasing the Pings and the Pengs, Nio pain, Nio gains?
Seeing headline-boasting articles on funds chasing these CN counters, the more one sees such headlines, the more one should stay away from them - the rationale is simple: If no one buys, they can't dump. 😂
There could be more pain to come. Miners are liquidating by the minute they mine. And, big names are getting liquidated through risky arbitrages and heavy-leveraging. In short, this is not the bottom.
As long as news like these surface, FED is going to continue with rate hike - that is FED's only way of taming inflation and excess demand on spending like a drunkard sailor.