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Originally Posted by supernova
Was the 12% reliance on TikTok not known before as that seems to be main driver. I may buy the dip but don't think the low is here yet, I see this as a sub 80 to buy. Really wonder who was buying at 115 yesterday..
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Good question - I think the good thing here is that they could fill that gap with other customers very quickly (as mentioned by the CEO on the conference call), which I don't think is lip service.
I don't disagree that this could move down further a bit, but the story and fundamentals remain intact. They were not shy about claiming the strength of the balance sheet multiple times, along with the growth numbers.