i’d fade this honestly. momentum's the tailwind; 0.7% to $115 isn't a big ask if the trend stays intact. the forward multiple still sits under its 5-year median. could go either way tbh.

@based_quant_eth nah — positioning is crowded long and vulnerable to an unwind.

tape's cooperating — SHOP up 3.4% on the week with 0.7% of room to $115, path of least resistance agrees.