i would be careful here, not careful because of the underlying company, but careful in that you understand 'why' your stock is moving.
At the moment 'growth' is in favour. This means that the growth funds are the ones attracting the money, and where do they invest it: in growth stocks.
So what happens to those growth stocks: momentum is applied to momentum.
In traders terms: strength begets strength.
So going back to our fund managers: they show good performance, so where does the new money flow to: growth style fund managers, what do the fund managers do: add to their growth positions, what happens to the underlying stocks: their share price grows.
So the key for those with growth stocks:
(a) either treat it as a trading position and go with the flow with stop losses
(b) focus on the underlying growth in intrinsic value, the growth in intrinsic value will be the 'protection' in the event that the market pyschology changes course. ie one will have a good estimate of what the real underlying worth of the growth stock is.
Just a heads up.
On another note i am building up a data base of potential companies to short in the future.
If the stock you are refering to is Amazon, this is one of the stocks in the data base.
No not Amazon, WFMI. They are still experiencing measured but high growth with plenty of room for further expansion - and they're being quite disciplined with it as well, not trying to open another hundred locations per year, remaining cautious in UK until they see better signs etc. They've also recently reinstated their dividend which could also have had a small impact on positive sentiment.
I haven't compared PE now to when I bought in, but could also be it's similar or only a bit higher after their subsequent rises in quarterly earnings.
I fully expect them to drop back again, but to be honest my US portfolio is pretty much set and forget now (barring unforeseen exceptions to individual stocks stories) and I'm focusing on my next area of investment. Not interested in trying to time in and out, I'm in WFMI for the next 20yrs in theory. I am however hoping they initiate a DRP before too many more dividends.