If you take a look at the valuations of most stocks worth mentioning, even more so any tech stock, you will find them to be 15-50% overvalued relative to historical valuations.
Why are investors flocking to big tech? PE multiples are accelerating upwards into the stratosphere. Not much makes sense at these levels, but does it need to? One of the main reasons valuations have gone up bigly is due to interest rates. The Fed continues to declare interest rates will remain at all time lows until the economy has rebounded, this could be years. Ask yourself, should company valuations be expanded or not reliant on what the fed does with interest rates? Where is the line drawn and what is the limit?
Swaggy is still long at these levels and will begin to close out positions as earnings month nears.
Tech is moon
Banks r Fuk
Good day to you kind sirs or madams