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BIGC - Short BigCommerce - Hyped Up Instagram Press Release Holds No Water ~$4.40 Price Target
BigCommerce Holdings Inc.
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BigCommerce (BIGC) surged another 33% on Wednesday following a 40% pop on Tuesday after the company released that they were “partnering” with Facebook (FB) on Instagram Checkout. While there is no falsehoods in the release, I believe that investors are vastly overestimating its significance. Today we will examine why the press release is being misinterpreted, why its bullish implications are unjustified, and why the