Freedom Capital Markets Downgrades NBIS as Overbought. Stock Rallies Past New Target.

Freedom Capital Markets downgraded NBIS from Buy to Hold mid-April after a 70% rally from $85 to $145. Meeks flagged overbought conditions and stretched valuations. He then raised his price target to $154 from $108. By April 23, NBIS was trading at $164-166, past his raised target. The fundamental case improved 43% but the stock won too hard for his comfort. Classic sell-the-rip.