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Thoughts on SAP's breakout today
Interesting move on $SAP today, up over 9% and pushing past 160. Everyone's quick to point to earnings or some analyst upgrade, but it makes me wonder how much of these big single-day moves are genuinely fundamental. Are we really seeing a rapid re-evaluation of the company's long-term prospects in 24 hours, or is it more about flow, perhaps some short covering getting squeezed, especially after it had been consolidating for a bit? Feels like the market loves a good story to justify the action after the fact.
Am I being overly cynical, or do others also question the narrative around these immediate, dramatic price shifts?
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That's a good point about the short covering. I often find it hard to disentangle true fundamental shifts from just market mechanics on these big moves. What's your take on whether the volume supports a more sustained rally or if it looks like a one-off squeeze?