In case you missed it... there's a futurist, technology stock that has utterly exploded higher this year against a background of absolutely nothing new fundamentally.

No, it's not Tesla. It's Richard Branson's Virgin Galactic (SPCE)... which as of yesterday's highs was up 210% year-to-date - double the performance of Elon Musk's lowly little stock

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Source: Bloomberg

Notably yesterday was a 25% drop from the highs (bear market) but this morning SPCE has taken off once again...

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Though the company is just a fraction of Tesla in terms of market value, the frenzy around its shares is similar.

A look at the upper chart shows a similar sudden spike pattern similar in TSLA shares. That spike in TSLA coincided with a massive explosion at the time in options trading volume...

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And looking at SPCE's options trading, we can see the same pattern of sudden explosion in call buying as every millennial jumps on the bandwagon... because it' easy, right?

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More than 91 million shares traded hands on Tuesday. That’s the most since the company’s September 2017 public offering, more than 27-times the average volume, and dwarfs the activity seen in Tesla.

As Bloomberg notes, Virgin Galactic has become a favorite among retail investors, judging by activity on message boards like r/wallstreetbets. 

Gains are snowballing, options traders are piling in, chatrooms are lighting up... what could go wrong?

We give the final word to Morgan Stanley analyst Adam Jonas, who offered a warning to investors chasing the rally that recent gains appear “to be driven by forces beyond fundamental factors.”