“The market seems to take aim at DoorDash (DASH), Airbnb (ABNB), PayPal (PYPL), Carvana (CVNA), Affirm (AFRM), Wayfair (W), Shopify (SHOP) and Block (SQ) on these sell-offs. It sometimes feels like they are supposed to be worth dramatically less. How many of these names are owned by hedge fund Tiger Global? Bloomberg reports that partner Sam Harland, who bet big on Carvana, has left the company.”

“The odd selling of tech stocks at 5 a.m. This kind of program can be either desperation or someone actually wanting tech down, given that many of these techs have aggressive buybacks that would buy stocks higher. The programs just overwhelm The "urgency" is odd ...”

Cramer on an email this morning