TMTB EOD Wrap

QQQ +50bps as indexes continue to breakout to new highs. Today’s rally led by momentum and GARP software while non-profitable tech continued to lag despite yields stepping down again. Quick one today as it’s nice and sunny outside and I know everyone wants to get their Father’s Day weekend started…

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• SHOP +4.5% as ISI upgraded to buy saying pullback great time to buy best in class asset.

• NFLX +2.5% as yipit said net adds tracking to 8-9M vs street at <5M

• GOOGL +90bps recovering after 2 days of underperformance - bull case intact here

• PINS +65bps shaking off that Piper note saying AMZN traffic decel’d

• META +11bps/ AMZN -9bps

• Unloved named underperformed: ETSY -2%; MTCH -17bps; CHWY -5%; EBAY -4%; RBLX -1%

• LYFT -2% continues to sell off post analyst day while UBER -1% doing a litte better recently

• CVNA -3% / W - 3.5%…We nibbled some more on W today as stock has now almost completely filled the gap since early May and data seemed slightly better this week although q still trakcing below s…