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2023 FBG Stock Contest (1 Viewer)
- Thread starter Andrew74
- Start date
The Man With No Name
Footballguy
One i was thinking about using was OTLY. It's up 16% today. Oh well. 362 days to go
Talk to us about ANIX. I assumed you’d be all over DYAI still. What’s changed regarding them (other than the stock price has dropped)?
McBokonon
Footballguy
I’m not sure they exist beyond this year. The best case for them is to get gobbled up by Kraft-Heinz or someone.
coopersdad
Footballguy
Where do we go to check?
The Z Machine
Footballguy
@Andrew74 , please put me down for SP500 = 3888
Yo Mama
Footballguy
First post has the link
dancingbones
Footballguy
This was looking good yesterday - today, not so much!I'm new to this game, but I'll take Silvergate (SI) for a play on the staying power of crypto (whatever hasn't yet killed it has to make it stronger, yes?)
S & P - 4196 & the recession that wasn't
Optimist here.
(edit for poor spelling!)
SFBayDuck
Footballguy
Any context to add here? I'm looking for a couple of Gold-related stocks, picked up some GLD yesterday.
KGB
Footballguy
-27.76% jesus. maybe ill buy nowThis was looking good yesterday - today, not so much!I'm new to this game, but I'll take Silvergate (SI) for a play on the staying power of crypto (whatever hasn't yet killed it has to make it stronger, yes?)
S & P - 4196 & the recession that wasn't
Optimist here.
(edit for poor spelling!)
dancingbones
Footballguy
And just like that -34.37% ... at this clip will be at-27.76% jesus. maybe ill buy nowThis was looking good yesterday - today, not so much!I'm new to this game, but I'll take Silvergate (SI) for a play on the staying power of crypto (whatever hasn't yet killed it has to make it stronger, yes?)
S & P - 4196 & the recession that wasn't
Optimist here.
(edit for poor spelling!)
sometime next week 
KGB
Footballguy
Cathy woods sold and added to CoinbaseAnd just like that -34.37% ... at this clip will be at-27.76% jesus. maybe ill buy nowThis was looking good yesterday - today, not so much!I'm new to this game, but I'll take Silvergate (SI) for a play on the staying power of crypto (whatever hasn't yet killed it has to make it stronger, yes?)
S & P - 4196 & the recession that wasn't
Optimist here.
(edit for poor spelling!)
dancingbones
Footballguy
Well, she clearly wasn't the only one selling.Cathy woods sold and added to CoinbaseAnd just like that -34.37% ... at this clip will be at-27.76% jesus. maybe ill buy nowThis was looking good yesterday - today, not so much!I'm new to this game, but I'll take Silvergate (SI) for a play on the staying power of crypto (whatever hasn't yet killed it has to make it stronger, yes?)
S & P - 4196 & the recession that wasn't
Optimist here.
(edit for poor spelling!)
I opened a small position (talking $500 here) in mid November & will ride it out - but I have not taken the opportunity to add any here. Writing on the wall does not look good currently - what a difference a week makes!
KGB
Footballguy
Heard. Just adding the small amount of info I readWell, she clearly wasn't the only one selling.Cathy woods sold and added to CoinbaseAnd just like that -34.37% ... at this clip will be at-27.76% jesus. maybe ill buy nowThis was looking good yesterday - today, not so much!I'm new to this game, but I'll take Silvergate (SI) for a play on the staying power of crypto (whatever hasn't yet killed it has to make it stronger, yes?)
S & P - 4196 & the recession that wasn't
Optimist here.
(edit for poor spelling!)
I opened a small position (talking $500 here) in mid November & will ride it out - but I have not taken the opportunity to add any here. Writing on the wall does not look good currently - what a difference a week makes!
The Big Donkey
Footballguy
only one of you jabroni's with the s&p over 4400? but then i saw he picked CYDY.
dancingbones
Footballguy
KGB
Footballguy
We killin it
St. Louis Bob
Footballguy
The Man With No Name
Footballguy
My BNGO pick has dropped like a rock the past week+.
I bought some on 01/03 and sold on 02/02 for a 36% gain
I bought some on 01/03 and sold on 02/02 for a 36% gain
dancingbones
Footballguy
Well, it has defintely dipped below $11 - making a beeline to the bottom it seems. Passing on the opportunity to add & it seems like the thesis for this one as a crypto infrastructure play has been pummelled & unlikely to recover.
Silvergate's stock plunges as crypto bank warns it may go out of business
12:05 pm ET March 2, 2023 (MarketWatch)By Steve Gelsi
Silvergate's stock loses 44% of its value as the company delays its financial statements after posting an unaudited loss of nearly $950 million in 2022
Silvergate Capital Corp.'s stock lost more than 40% of its value Thursday after the company delayed its financial statements and said it is evaluating its ability to continue operating for the next 12 months, as the crypto-asset bank scrambles to cover withdrawals tied to the meltdown of the crypto market.
Silvergate (SI) said in a filing that it expects to record further losses related to its impairment on its securities portfolio after selling additional debt securities to cover withdrawals.
Silvergate's stock dropped 44.5% to under $8 a share, a level not seen since March 2020, with at least one analyst downgrading the stock.
Separately, Coinbase Global Inc. (COIN) said it would stop sending payments to or receiving payments from Silvergate, "in light of recent developments and out of an abundance of caution," the company tweeted Thursday.
Coinbase plans to facilitate institutional client cash transactions with its other banking partners, the company tweeted Thursday.
Coinbase's stock fell nearly 8%, while shares of Signature Bank (SBNY), another financial-services company that works with digital currencies, fell 5.6%.
Silvergate disclosed in a filing an unaudited loss of $948.7 million in 2022, compared with net income of $75.5 million in 2021. It does not expect to be in a position to file audited results by the extension date of March 16, the company said.
"The company is evaluating the impact that these subsequent events have on its ability to continue as a going concern for the twelve months following the issuance of its financial statements," Silvergate said.
JPMorgan analyst Steven Alexopoulos downgraded Silvergate to underweight from neutral and withdrew a price target for the company.
Silvergate realized $886 million in losses from selling securities as crypto-related deposits fell 68% to $3.8 billion in its fourth quarter, the company announced in January.
"With the company having sold additional securities (beyond what was guided) at a loss in January/February, this reflects that the company is facing continued liquidity challenges," Alexopoulos said.
Wedbush analyst David Chiaverini cut his price target on Silvergate's stock to $9 from $13 and reiterated a neutral rating to reflect a "lack of near-term positive catalysts and [belief] the crypto market could remain suppressed with elevated interest rates for the next couple quarters" until a pause in rate increases by the U.S. Federal Reserve.
"[Silvergate] is managing to a smaller balance sheet to maintain regulatory capital ratios, which could impact its earnings power," he said.
Silvergate listed a number of accounting issues that it is working on, including:
Silvergate's independent registered public accounting firm is requesting details on such matters, and the company is responding to such requests.
Founded in 1988 and based in La Jolla, Calif., Silvergate provides banking and loan services with a focus on financial-infrastructure solutions and services for the digital-currency industry.
MarketWatch writer Frances Yue contributed to this report.
Also read: Feds coach banks on managing crypto liquidity crunches
-Steve Gelsi
Desert_Power
Footballguy
Well, it has defintely dipped below $11 - making a beeline to the bottom it seems. Passing on the opportunity to add & it seems like the thesis for this one as a crypto infrastructure play has been pummelled & unlikely to recover.
$SI was a good bet for this contest.
It has been the most shorted stock in the indexes though. The combination of FTX blowup and rising interest rates definitely is a perfect storm for their business model. I think there is much more worry about the litigation potential than banking operations. I would be surprised if they were revealed to be liable for any of the FTX stuff.
KGB
Footballguy
oofWell, it has defintely dipped below $11 - making a beeline to the bottom it seems. Passing on the opportunity to add & it seems like the thesis for this one as a crypto infrastructure play has been pummelled & unlikely to recover.
Silvergate's stock plunges as crypto bank warns it may go out of business
12:05 pm ET March 2, 2023 (MarketWatch)
By Steve Gelsi
Silvergate's stock loses 44% of its value as the company delays its financial statements after posting an unaudited loss of nearly $950 million in 2022
Silvergate Capital Corp.'s stock lost more than 40% of its value Thursday after the company delayed its financial statements and said it is evaluating its ability to continue operating for the next 12 months, as the crypto-asset bank scrambles to cover withdrawals tied to the meltdown of the crypto market.
Silvergate (SI) said in a filing that it expects to record further losses related to its impairment on its securities portfolio after selling additional debt securities to cover withdrawals.
Silvergate's stock dropped 44.5% to under $8 a share, a level not seen since March 2020, with at least one analyst downgrading the stock.
Separately, Coinbase Global Inc. (COIN) said it would stop sending payments to or receiving payments from Silvergate, "in light of recent developments and out of an abundance of caution," the company tweeted Thursday.
Coinbase plans to facilitate institutional client cash transactions with its other banking partners, the company tweeted Thursday.
Coinbase's stock fell nearly 8%, while shares of Signature Bank (SBNY), another financial-services company that works with digital currencies, fell 5.6%.
Silvergate disclosed in a filing an unaudited loss of $948.7 million in 2022, compared with net income of $75.5 million in 2021. It does not expect to be in a position to file audited results by the extension date of March 16, the company said.
"The company is evaluating the impact that these subsequent events have on its ability to continue as a going concern for the twelve months following the issuance of its financial statements," Silvergate said.
JPMorgan analyst Steven Alexopoulos downgraded Silvergate to underweight from neutral and withdrew a price target for the company.
Silvergate realized $886 million in losses from selling securities as crypto-related deposits fell 68% to $3.8 billion in its fourth quarter, the company announced in January.
"With the company having sold additional securities (beyond what was guided) at a loss in January/February, this reflects that the company is facing continued liquidity challenges," Alexopoulos said.
Wedbush analyst David Chiaverini cut his price target on Silvergate's stock to $9 from $13 and reiterated a neutral rating to reflect a "lack of near-term positive catalysts and [belief] the crypto market could remain suppressed with elevated interest rates for the next couple quarters" until a pause in rate increases by the U.S. Federal Reserve.
"[Silvergate] is managing to a smaller balance sheet to maintain regulatory capital ratios, which could impact its earnings power," he said.
Silvergate listed a number of accounting issues that it is working on, including:
Silvergate's independent registered public accounting firm is requesting details on such matters, and the company is responding to such requests.
Founded in 1988 and based in La Jolla, Calif., Silvergate provides banking and loan services with a focus on financial-infrastructure solutions and services for the digital-currency industry.
MarketWatch writer Frances Yue contributed to this report.
Also read: Feds coach banks on managing crypto liquidity crunches
-Steve Gelsi
atsselfonback: 98.31%
McBokonon
Footballguy
Down 24% to $1.65 today. tik tok
McBokonon
Footballguy
Getting bought by ABBV. Up 81% premarket which is on top of their 200+ % YTD gain. I hope you bought some for real!
Andrew74
Footballguy
Yeah I’ve mulled that over myself. Used to be that way. Not so much good stock picking vs. binary bets.
I work there
; today was a good day.
Andrew74
Footballguy
Apologies for the late start, but we are up and running. Some rule changes this year. We'll see how it goes.
forums.footballguys.com
2024 FBG Stock Contest
Welcome to the 20th annual FBG Stock Contest! Real-Time Tracking Spreadsheet The Rules (these are changing) Pick one stock that you think can appreciate the most (EXCLUDING DIVIDENDS) in 2024. Starting stock price must be $10 or greater. We'll take entries through Monday, January 1st; must...
forums.footballguys.com
Andrew74
Footballguy
Alright, the results are in!
Congrats to @pmedina on the win. Almost 500% gain. @Nathan R. Jessep came in second and @KGB third. @ghostguy123 was the closest on the S&P 500. We had a tie with @dancingbones and @pecorino channeling their innter Eminence and losing all their money.
FBGs dominated the market this year, beating the S&P 500 by 34.3%. Roughly half the picks beat the market this year.
Don't forget to get your picks in for 2024!
Congrats to @pmedina on the win. Almost 500% gain. @Nathan R. Jessep came in second and @KGB third. @ghostguy123 was the closest on the S&P 500. We had a tie with @dancingbones and @pecorino channeling their innter Eminence and losing all their money.
FBGs dominated the market this year, beating the S&P 500 by 34.3%. Roughly half the picks beat the market this year.
Don't forget to get your picks in for 2024!
Andrew74
Footballguy
That is attention to detail! I have updated the spreadsheet. I also took a look at Silvergate and I owe an apology to dangingbones. Evidently he didn't lose all his money as the bank still trades under SICP. However, sorry @dancingbones , you are all alone as the 2023 Eminence.
coopersdad
Footballguy
Wouldn't have made the playoffs even if we expanded the field. Try again next year.
Winner, winner 
. To be honest, wish the buyout was next year to give me another set of options, but a buyout was my goal.
Now I just have to hope AbbVie keeps us on, going from 350 employees to 50k+
.
On the lookout for a similar company to join if the acquisition goes poorly.
. To be honest, wish the buyout was next year to give me another set of options, but a buyout was my goal. Now I just have to hope AbbVie keeps us on, going from 350 employees to 50k+
. On the lookout for a similar company to join if the acquisition goes poorly.
