6/5/24 - $base - don't see much i like here in this tape-caution

6/5/24 - vrockstar - BASE - among CXM, $NYSE:SMAR and now this one reporting tn... they all basically suffer from the same factor problems (read those). the issue w base is that it's possibly even worse given the size, higher valuation, actual cash burn (despite dilution) and arguably even more "at risk" of AI-narrative-murda. the chart is defn in make or break mode. i'm no technician-first approach as many on this platform are, but i can clearly see some massive risk to the downside if they can't deliver (we're talking 15-20%) and upside will be tough to buy and stick and rip... and btw if it's a sector-specific move, this will likely not be the biggest beneficiary, instead the winners will consolidate further gains until we reach a sustainable rally in the sector where the winners will get sold to buy some of the losers cheap (arguably some already are, some aren't - i'd posit this is not "cheap"). so GL to those who know the story/ name more than me, but this seems like a clear "caution" in the here and now of what the tape is buying.