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

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