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Bumble Fumble, Stoner Stocks Tumble As Bitcoin Rips & Dollar Dips

Tyler Durden's Photo
by Tyler Durden
Thursday, Feb 11, 2021 - 04:00 PM

Everyone and their (female) pet rabbit was excitedly anticipating the Bumble IPO today and while it opened up 77% from its IPO price, it ended the day well below the $76 open price...

But it was pot stocks that really got smoked...

Source: Bloomberg

With TLRY crashing 50%...

MJ, the Marijuana ETF, had its worst day ever...

Source: Bloomberg

Short-focused Biotechs were also whacked today...

Source: Bloomberg

Everything was going so well, until...

The broad market took a dive early on - for now obvious news/level driven reason - and staged a modest rebound from that tumble. Nasdaq outperformed but a late-day panic-buying spree lifted everything else back to unch...

The plunge this morning saw another big sell program hit...

Source: Bloomberg

Energy stocks closed down today... WTF!?

Source: Bloomberg

TSLA saw some serious OTM Put buying again...but again $800 was staunchly defended...

Treasury yields were higher across the curve today, led by the long-end (30Y +3bps), but remain lower on the week...

Source: Bloomberg

An ugly 30Y auction didn't help...

Source: Bloomberg

On the other side of the ledger, crypto soared with Bitcoin pushing back above $48 to new highs...

Source: Bloomberg

And Ethereum back above $1800...

Source: Bloomberg

The dollar ended the day lower for the 5th straight day - the longest losing streak since August - and back near unchanged on the year...

Source: Bloomberg

Despite dollar weakness, gold was lower today

Silver ended unchanged...

And oil dared to fall with WTI back below $58...

And finally, remember, it's different this time... but will it end the same?

Source: Bloomberg

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