Probably a good one to hop into for a quick gain due to hype and usage, but long-term the price will fall.
Will continue to monitor, but looking like it will be the standard 7/11 IPO strategy - get in and immediately start the sell off if price drops 7% day-to-day or 11% consecutively, then short to price where losses are matched.
New year + tax return tends to lead people to spend a bit more. Anecdotally I'd expect the downward spending trend to continue. Majority of the customers I interact with (barista programmer checking in) I know are asking themselves "do I need this?" before they buy. Most have cancelled their Amazon Prime subscription and stopped buying there altogether, which for many was the equivalent of an online shopping spree.
This worked great for a while, but in the last few years reddit has become corporately dominated, regardless of moderation attempts (admins have removed moderators of certain subreddits to accomplish this, would guess based on the spend).
Will continue to monitor, but looking like it will be the standard 7/11 IPO strategy - get in and immediately start the sell off if price drops 7% day-to-day or 11% consecutively, then short to price where losses are matched.