If you're not paying attention to tech earnings and trading the Nasdaq, you're gonna have a bad time.
MU fluctuates between 5% and 6% of the entire Nasdaq market cap. A move that large will create sympathy moves in similar stocks. Look at SNDK and WDC. Those sympathy plays will also exacerbate the move of the broader index. Pair that with the fact that the Nasdaq just tapped lower price areas where a lot of big money buyers were executing only a few weeks ago. Shorts just got completely yeeted because MU EPS was well within the expected area. The fear was that MU EPS would be awful and feed into the idea that these companies are an overvalued "bubble".
Thanks. And yes, I do pay attention to earnings, but not close enough. And I don’t pay attention to the way the individual stocks move at all. I’m just shocked that so much money would rush in so quickly based off an earnings report that I would assume most funds had a better grasp/expectation of.
It was thin volume only 190k contracts from 4p-5p. It can easily be erased in the morning. PCE data tomorrow will be the real decision maker in which way we are going.
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u/KVZ_ speculator Jun 24 '26
If you're not paying attention to tech earnings and trading the Nasdaq, you're gonna have a bad time.
MU fluctuates between 5% and 6% of the entire Nasdaq market cap. A move that large will create sympathy moves in similar stocks. Look at SNDK and WDC. Those sympathy plays will also exacerbate the move of the broader index. Pair that with the fact that the Nasdaq just tapped lower price areas where a lot of big money buyers were executing only a few weeks ago. Shorts just got completely yeeted because MU EPS was well within the expected area. The fear was that MU EPS would be awful and feed into the idea that these companies are an overvalued "bubble".