So are Tesla, Nvidia, Uber, Shopify, Cloudflare, Spotify, Roku, Zillow, and Coinbase to name a few. It’s almost like nearly all tech stocks have bounced.
Because investors are expecting the Fed to cut rates this year, which benefits growth stocks much more than value stocks, since future cash flows are discounted by less. If the expected rate cuts don't materialize, this group of stocks is likely to crash hard again.