stock price on 2/7/ closed the trading day at $95.33. It started the day as low as $93. Though the extra $2 would have been nice, the fact that the day ended green for the stock only reiterated my belief that it is highly likely to bounce from this position.

At $95, sits on the same level of support as the end of its first pandemic-related boom in May of 2020. And given that this is an extremely popular growth stock, I don’t see it breaking this support and going lower.

Cathie Wood bought at roughly $117, days before it had a 30% decline. The bottom of that 30% decline is close to where the stock closed yesterday. If Cathie Wood thought was a buy before the stock declined 30%, this tells you that she would have been highly surprised by that revenue miss.

I don’t love yet. SemRush suggests’s traffic has been declining since early 2022. However, SimilarWeb suggests the traffic for is much higher than SemRush suggests. I tend to believe SimilarWeb due to it being better at picking up direct traffic than SemRush but I’m not 100% sure which is why I’m not 100% sold on this stock. But I did buy yesterday at $93-94 and I’m expecting that to look like a great buy within a few months. Just be careful you don’t hold the stock too long if the bear market continues because this may not be the low yet if the overall market declines massively later in the year. I bought it yesterday to trade it but I plan to hold it for a few weeks if not longer.

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