Alright quick look before bed – NBIS was absolutely unhinged yesterday. Closed at $259.20, up 34%. Hit $259.44 at the high, opened around $226. Volume was 63.5M – massive buying.
Overnight pulling back to about $252.90, down 2.4% – just profit-taking after a crazy day.
Here's the GEX:
Put Wall $220, Call Wall $250, gamma flip around $194. We closed above both walls – positive gamma, dealers now supporting the upside. [GEX? Never heard of it? Here ya go](https://www.moomoo.com/us/learn/detail-gamma-exposure-gex-understanding-dealer-hedging-flows-and-key-levels-107906-260473079?global_content=%7B%22promote_content%22:%2211067213%22,%22promote_id%22:20795,%22promote_type%22:43,%22sub_promote_id%22:1%7D)
Technically, we blew past the upper Bollinger band ($245). RSI probably in the 80s – way overbought. MACD just crossed positive hard – momentum is vertical.
Q2 numbers were nuts. Revenue up like 450-500% YoY to \~$582M. EBITDA margin 41%. Raised contracted power target to 5GW by year-end. RPO sitting around $37B against $40B in total commitments – huge relative to current revenue. They've got a $27B Meta deal and just added a new $1B+ compute deal through 2029.
Bear case is loud too – there's a public short against it. EV \~$49B vs revenue nowhere close. Triple-digit P/E. Some people saying take the year's gains (still up 130%+ YTD) and rotate out.
Short-term, $250 is support now. Next levels $280-300. Below $220 and the Put Wall becomes resistance.
Overnight at $252 is just a breather after a 34% day. Let's see if $250 holds.
What's your move – riding or taking some off?
DYOD🫡