The following blew away the consensus:
- Etsy Inc. (ETSY) +88%
- Virtu Financial, Inc. (VIRT) +17%
- Party City Holdingco Inc. (PRTY) +22%
So, is this a sign of the top or something else?
Let’s look at the names:
- VIRT could be the insiders looking to unload before laws curb high-frequency trading.
- PRTY was public; it was anything, but a party. Perhaps it will be different this time.
- Etsy (ETSY) was up 100% at one point in trading, which is more compelling.