McBokonon
Footballguy
“FOMO Corp., formerly 2050 Motors Inc., is focused on business incubation and acceleration. The company invests in and advises emerging companies.”
So basically he has 750,000 shares of Erlich Bachman.
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Stock Thread (7 Viewers)
- Thread starter St. Louis Bob
- Start date
So basically he has 750,000 shares of Erlich Bachman.
Bonfire
Footballguy
Local/Individual factors could overwhelm in either direction, but the long term unlimited dollar printing effects this a lot IMO. Stocks aren't the only assets being inflated systemically.
David Dodds
Administrator
Charlie covers the GameStop situation nicely starting around 25 minutes in
https://youtu.be/ta9FfikSl9M
Bottom line: The stock has moved so much from where it began ($6 a few years ago) and with only 70 million shares of stock, it's game over for the shorts.
IMO, We have already gamma squeezed this stock.
The first act saw this shoot to nearly $500. Melvin Capital may have exited their short position, but lots of copycats continued to hammer this all the way back to $40.
This past week was the second act having this skyrocket to 180+ in afterhours trading.
They say a good movie has 3 to 4 acts. Lots of contracts came in when this finished above $100 on Friday. This week will likely be Act 3. It might last a day or a month. If the price remains high each Friday, the problem keeps snowballing.
Act 4 is when the SEC of Congress halt trading in GameStop to figure out a solution.
My approach is I will be creating a narrow channel of buys and sells with the hope of day-trading this for a profit of $25-30K a day until the moon event happens. Ideally I will end up with nearly as many shares each day as I started with (maybe more if I am feeling adventurous). I will always be a net buyer on Fridays as I suspect efforts to suppress the stock price are needed to minimize even more call contracts in the money.
I think AMC is in a very similar position with one major caveat. They have a zillion shares so I don't see it moon bound (and probably not even halted). I do think t's a perfect candidate for day-trading.
As for me, I am not going to have my money in anything else. I sense this problem is going to ripple through more hedge funds than we think.
This is not financial advice. I am a retired football analyst that is mostly in this for the LULZ.
https://youtu.be/ta9FfikSl9M
Bottom line: The stock has moved so much from where it began ($6 a few years ago) and with only 70 million shares of stock, it's game over for the shorts.
IMO, We have already gamma squeezed this stock.
The first act saw this shoot to nearly $500. Melvin Capital may have exited their short position, but lots of copycats continued to hammer this all the way back to $40.
This past week was the second act having this skyrocket to 180+ in afterhours trading.
They say a good movie has 3 to 4 acts. Lots of contracts came in when this finished above $100 on Friday. This week will likely be Act 3. It might last a day or a month. If the price remains high each Friday, the problem keeps snowballing.
Act 4 is when the SEC of Congress halt trading in GameStop to figure out a solution.
My approach is I will be creating a narrow channel of buys and sells with the hope of day-trading this for a profit of $25-30K a day until the moon event happens. Ideally I will end up with nearly as many shares each day as I started with (maybe more if I am feeling adventurous). I will always be a net buyer on Fridays as I suspect efforts to suppress the stock price are needed to minimize even more call contracts in the money.
I think AMC is in a very similar position with one major caveat. They have a zillion shares so I don't see it moon bound (and probably not even halted). I do think t's a perfect candidate for day-trading.
As for me, I am not going to have my money in anything else. I sense this problem is going to ripple through more hedge funds than we think.
This is not financial advice. I am a retired football analyst that is mostly in this for the LULZ.
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KGB
Footballguy
Someone posted it in the penny thread and im taking a gamble. Thats all. im not advising it
Ok, just to add a little be careful on some of these high flying stocks, read this article about FSR:
https://www.theverge.com/platform/amp/2021/2/26/22279995/fisker-inc-electric-vehicle-interview-solid-state-batteries-ocean-suv-spac
That article sure doesn’t give you the warm fuzzies especially since Fisher has gone bankrupt in the past. If they have just now given up on advanced battery technology and basically depend on other companies to do everything, what’s their value and competitive advantage? Are they just another low cost LCD TV or a Yugo?
Stock’s up 75% in the last few days because of the Apple car deal. Oops, sorry it’s with Foxconn. I means every announcement says Apple supplier since it gets more clicks. That partnership is a little weird given that Apple wants to create a competing product to Foxconn/Fisker.
Anyway, just food for thought as a lot of these SPACs are still priced to perfection, less so a week later, but still. Many will succeed in the future, but the vast majority won’t be good investment after the initial pops. Just thinking long term here, not buying and selling after pops.
https://www.theverge.com/platform/amp/2021/2/26/22279995/fisker-inc-electric-vehicle-interview-solid-state-batteries-ocean-suv-spac
That article sure doesn’t give you the warm fuzzies especially since Fisher has gone bankrupt in the past. If they have just now given up on advanced battery technology and basically depend on other companies to do everything, what’s their value and competitive advantage? Are they just another low cost LCD TV or a Yugo?
Stock’s up 75% in the last few days because of the Apple car deal. Oops, sorry it’s with Foxconn. I means every announcement says Apple supplier since it gets more clicks. That partnership is a little weird given that Apple wants to create a competing product to Foxconn/Fisker.
Anyway, just food for thought as a lot of these SPACs are still priced to perfection, less so a week later, but still. Many will succeed in the future, but the vast majority won’t be good investment after the initial pops. Just thinking long term here, not buying and selling after pops.
Capella
Footballguy
2Squirrels1Nut
Footballguy
Capella
Footballguy
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Agreed, based on what I've heard the growth could be, buying at these drops makes sense. Some think it can reach $500,000 by 2030.
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TripItUp
Footballguy
Update on my holdings(non retirement)
CZR - added last week as I think the epicenter stocks bounce as the reopening story continues
DKNG - have been holding forever, 2.5 bagger...not selling until April at the earliest for tax reasons
HZAC - cheap SPAC, great management team
MAR Stock and Calls - added last week as I think the epicenter stocks bounce as the reopening story continues
SI - took profits a week or two ago, have my cost basis in it now after almost 3 bagging
SRNGU - My new favorite SPAC - sport radar rumors linked to Cuban and other big insiders...could fly, doubling down on Monday
IPOE Call options and Stock - Disappointing but I think after the shorts are out this thing could fly hence July calls
TWTR - Long position, will definitely be choppy in short term with interest rate pressures
BTC - bought the dip this weekend
ETH - bought the dip this weekend
ABNB - bought the dip, big believer this is a long term winner
DMTK - Mixed emotions but love the product, with interest rate concerns could sell on next bounce
My expected buys this week: SRNGU - double or triple down. Square and Paypal are maybes, love both long but could be choppy short term.
CZR - added last week as I think the epicenter stocks bounce as the reopening story continues
DKNG - have been holding forever, 2.5 bagger...not selling until April at the earliest for tax reasons
HZAC - cheap SPAC, great management team
MAR Stock and Calls - added last week as I think the epicenter stocks bounce as the reopening story continues
SI - took profits a week or two ago, have my cost basis in it now after almost 3 bagging
SRNGU - My new favorite SPAC - sport radar rumors linked to Cuban and other big insiders...could fly, doubling down on Monday
IPOE Call options and Stock - Disappointing but I think after the shorts are out this thing could fly hence July calls
TWTR - Long position, will definitely be choppy in short term with interest rate pressures
BTC - bought the dip this weekend
ETH - bought the dip this weekend
ABNB - bought the dip, big believer this is a long term winner
DMTK - Mixed emotions but love the product, with interest rate concerns could sell on next bounce
My expected buys this week: SRNGU - double or triple down. Square and Paypal are maybes, love both long but could be choppy short term.
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TripItUp
Footballguy
TripItUp
Footballguy
I don't really care...holding it long and wont' even look at price unless it really goes low and I'll buy more.
Capella
Footballguy
GoBirds
Footballguy
Mind sharing your thoughts on why you like to so much? I haven’t followed the stock, looks like it just went public a couple months ago? I put a chunk in TripAdvisor a few months back and think this could be a play I also may like even though I’ve missed the initial jump.TripItUp said:
2Squirrels1Nut
Footballguy
Looks like we're in for a nice open tomorrow.
KGB
Footballguy
jamny
Footballguy
I'll believe it when I see it. Hopefully we're in for a couple of boring days before heading back up. Watch the volume!
Bossman
Footballguy
I'm excited about this GME thing..
This post was glossed over but my puny brain is telling me this could be very important...
Does this mean hedge funds are now paying 9% ... instead of 1% ...on the GME that they've shorted?
Seems this is HUGE news for longs, no?
Freak Show
Footballguy
If GIS opens around $55., I'm buying some.
Look at what the rate was on the 24th, when GME skyrocketed, or Friday a.m., when it dropped from ~$140 to ~$86.
David Dodds
Administrator
I get it, you desperately want it to be true. The numbers don't really support it though (back to 450K available btw).
Capella
Footballguy
Welcome to the party.
There’s no food or drinks because we’ve all lost all of our money. Have a good time. 
Angry Beavers
Footballguy
we are never going to the moon with that attitude!Welcome to the party.
Think of it as saving on food and drinks in the short term to make long term gains!!
Charlie Harper
Footballguy
General Malaise
Footballguy
I don’t know hedgie, why don’t you inform us of your evil ploy, hedgie. You disgust me trying to keep money from the masses.
JAA
Footballguy
Well ... I need a couple more weeks for my pennies to turn around. The last 1-2 week pullback has been brutal
One small data point, saw on the news that January set a record for online betting (at least in Colorado), NBA was #1 which bodes well with football going into its off-season.
What blew my mind was the #4 most bet sport in terms of $ amt? Freaking Table Tennis! Even more than hockey!
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Sand
Footballguy
Same reason Macau is so popular and why Asian games are put front and center in many casinos.
hooter311
Footballguy
Table tennis is still popular because it was the only sport going for parts of the pandemic.
Russian liga leagues run 24/7/365
I don’t doubt your explanation or that lack of other betting options helped drive the numbers but Asians only make up 3.1% of the total population of Colorado, less than the national average. The percentages of those that bet online and average bet size vs other ethnicities must be orders of magnitude higher to drive the betting that high.
Seriously, although I’ll take today as is but the swings each day are crazy. Still thinking we aren’t quite out of the woods yet although I’m also thinking on the other side that I should have bought more than I did at the end of last week. I want to finish my buys so I can basically be locked and loaded for a bit.
