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Stock Thread (25 Viewers)

McBokonon said:
I hope his supporters save some money so they can still donate something to his PAC (established to help with legal fees) when this thing eventually explodes. 

Good thread from a SPAC guy I follow (this guy is anything but political):

Link to Twitter thread

So let's quickly recap here:

1) Company launched today 
2) Based in a WeWork with no known employees
3) Sketchy CEO and CFO with ties to China
4) CEO and CFO's previous SPAC deal blew up
5) CEO and CFO bought $10 million in insider shares in $DWAC a month before announcement
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:thumbdown:  not sure I trust some random tweet.  Now, if it were on a truth media site I would.  

😉

 
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I don't know what part of DWAC I find the most entertaining.  Probably the CEO being connected to Wuhan?  :lol:

 
McBokonon said:
Adding to TTD and PUBM on the Adpocalypse fallout. 
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TTD, UPST and AMZN (because it’s by far my largest) are 80%+ of my losses today.

Looks like ZS is in a virtual tie for 2nd largest position for me with TTD due to today. Both still a share or so above my UPST, HUBS, OKTA, MDB and TWLO.

ETA: Added some PUBM at $26.07.

 
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stbugs said:
Lol. It might be the worst stock pumped in a while. I’m legit shocked that it passed mustard with the supposed new SPAC rules. I mean it’s almost pure comedy. Welp, I was banned on Twitter so I’m creating a social media site and going public with that idea.
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You can always make money off dumb people. Didn't PT Barnum teach you anything?

 
McBokonon said:
Getting lost in all this is that WeWork IPO’d this week and is up 20% today because stonks. It’s impressive when WeWork is a distant second in the “shady new companies that went public this week” category.
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It sucks that it got overshadowed because that was a crazy situation. Awesome how that IPO went from this gigantic unicorn to stained and tarnished shelved IPO.

 
So $PINS is being pulled down with the post-SNAP fallout and is trading around $59 or whatever. The purported price tag in the rumored PYPL buyout was $70. Neither company has denied the rumors. That doesn’t mean it’s true but if you want to speculate that it is, you have $10 a share just staring at you.

 
General Malaise said:
I know, I'm definitely at fault for pimping yellow cake.  Fukushima really destroyed the commodity and it's languished for 10 years following.  I wouldn't touch it again either, but the intel we're getting on it is too good to pass up.  All that said, uranium makes up maybe 5% of my total portfolio holdings right now, so I'm bullish but not crazy bullish.  The only name I feel great about is UUUU and that has other metals too.
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I don't hold you at fault at all.  It was, and still is, a horrible disaster. 

 
McBokonon said:
So $PINS is being pulled down with the post-SNAP fallout and is trading around $59 or whatever. The purported price tag in the rumored PYPL buyout was $70. Neither company has denied the rumors. That doesn’t mean it’s true but if you want to speculate that it is, you have $10 a share just staring at you.
Click to expand...


What happens at the time of the merger if this is true?  Let's say PYPL is at $280... do PINS holders get one share of PYPL for every 4 shares of PINS they own?  Or something else?

 
Steeler said:
What happens at the time of the merger if this is true?  Let's say PYPL is at $280... do PINS holders get one share of PYPL for every 4 shares of PINS they own?  Or something else?
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The terms of the deal, IF it happens, haven’t been disclosed. If the deal is for $PINS at $70, it could be all cash, all $PYPL stock, or a mix. Won’t know until it happens if it happens.

 
FreeBaGeL said:
I know this is probably well outside the kind of thing you usually buy, but what do you think of something like QYLD in the kind of market you're describing?  I've never owned it but huge dividend and it is totally reliant on covered calls, which you seem to like a lot right now.
Click to expand...
I did a lot of research on this strategy as well as the same strategy for the S&P 500 and Dow.

I really like em. 

I would only suggest a slice into each....these look especially nice in tax deferred IRA’s both Traditional and Roth because of all the income you will collect on these option index strategies. 

They are doing Call writing on their respective index’s and it is market neutral strategy over the long term. Because undoubtedly there will be stocks called away it will not track the index returns like a traditional index ETF tries to. 

QYLD has the highest yield because the premiums on Nasdaq stocks are going to be far richer than the S&P and Dow. (Global X ETF's)

BXMX has a yield of 5.84 (Buy Write strategy on the S&P 500) (Nuveen ETF’s) 

DIAX 6.26% yield (Buy Over right strategy) (Nuveen ETF’s)

These ETF funds looking back on their historical returns mitigate very little on the downside (for example down 30% in the pandemic but down around 20% in 2008 when looking at the Dow DIAX strategy) and will have some limits on the upside.....but you are being compensated for lack of total participation with that very attractive yield. It is akin to indexing with a really good dividend which is generated by the active option writing. 

I suggest you look these up and read about all the particulars yourself. 

I would put no more than 5% max of my total portfolio into each if I am looking for a current income with growth potential strategy.  

Again I think these are nice for IRA’s.....to get all that tax deferred income compounding. 

 
Todem said:
I did a lot of research on this strategy as well as the same strategy for the S&P 500 and Dow.

I really like em. 

I would only suggest a slice into each....these look especially nice in tax deferred IRA’s both Traditional and Roth because of all the income you will collect on these option index strategies. 

They are doing Call writing on their respective index’s and it is market neutral strategy over the long term. Because undoubtedly there will be stocks called away it will not track the index returns like a traditional index ETF tries to. 

QYLD has the highest yield because the premiums on Nasdaq stocks are going to be far richer than the S&P and Dow. (Global X ETF's)

BXMX has a yield of 5.84 (Buy Write strategy on the S&P 500) (Nuveen ETF’s) 

DIAX 6.26% yield (Buy Over right strategy) (Nuveen ETF’s)

These ETF funds looking back on their historical returns mitigate very little on the downside (for example down 30% in the pandemic but down around 20% in 2008 when looking at the Dow DIAX strategy) and will have some limits on the upside.....but you are being compensated for lack of total participation with that very attractive yield. It is akin to indexing with a really good dividend which is generated by the active option writing. 

I suggest you look these up and read about all the particulars yourself. 

I would put no more than 5% max of my total portfolio into each if I am looking for a current income with growth potential strategy.  

Again I think these are nice for IRA’s.....to get all that tax deferred income compounding. 
Click to expand...


Can I buy these and then write covered calls on them?

🤯

 
McBokonon said:
Getting lost in all this is that WeWork IPO’d this week and is up 20% today because stonks. It’s impressive when WeWork is a distant second in the “shady new companies that went public this week” category.
Click to expand...
It's a lot less shady now that Adam is out of the way and it's being priced like a real-estate-management company instead of The Next "Uber For ______". They do have real estate holdings, they have contracts and leases, they apparently have revenue coming in... it's definitely an improvement over the original IPO pitch.

 
Anyone have a take on PENN?

I have some shares I received from the Scoreboard buyout.

I already have a ton (for me) of DKNG.

Leaning towards selling....

@McBokonon , thinking you may have posted about this one in the past?

 
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identikit said:
Anyone have a take on PENN?

I have some shares I received from the Scoreboard buyout.

I already have a ton (for me) of DKNG.

Leaning towards selling....

@McBokonon , thinking you may have posted about this one in the past?
Click to expand...
Maybe? I’ve written a lot about how I think the actual sports betting apps themselves will be commodities with 5 or so larger winners, so I’ve decided not to be in any of them and am looking for a pick and shovel play. I brought up Score and then it got bought out so congrats to anyone who jumped in on that one. Also $GENI but that will probably take a long time to catch a bid, assuming it ever does. Cathie likes it, though.

 
I know there are some Opendoor fans here so I thought I'd share.

Opendoor purchased a home in my neighborhood for $417K on July 2nd (53% more than it sold for 2 years ago).  They painted and replaced the carpet ($5k) and relisted for $435 on 7-20.  They've dropped the price 4 times in 4 months.  They will be on the hook for 2.5% buyer's agent commission, close to $3k in taxes and HOA dues, and over $3k in HOA fines.  I'm sure the previous owner who sold it to them are laughing at these suckers all the way to the bank.  

I figured this would be an arms race vs Zillow and the others to attempt to buy market share with shareholder funds.  I just don't see how the business model works long term once the real estate market stalls.  They are staring at $50k loss before you even consider the cost of the funding and the salaries paid to employees working this property.  Biggest issue IMO is that they bought based on comps of current properties that have seen some renovation and this place is stock from 15 years ago and very dated.

 
BassNBrew said:
I know there are some Opendoor fans here so I thought I'd share.

Opendoor purchased a home in my neighborhood for $417K on July 2nd (53% more than it sold for 2 years ago).  They painted and replaced the carpet ($5k) and relisted for $435 on 7-20.  They've dropped the price 4 times in 4 months.  They will be on the hook for 2.5% buyer's agent commission, close to $3k in taxes and HOA dues, and over $3k in HOA fines.  I'm sure the previous owner who sold it to them are laughing at these suckers all the way to the bank.  

I figured this would be an arms race vs Zillow and the others to attempt to buy market share with shareholder funds.  I just don't see how the business model works long term once the real estate market stalls.  They are staring at $50k loss before you even consider the cost of the funding and the salaries paid to employees working this property.  Biggest issue IMO is that they bought based on comps of current properties that have seen some renovation and this place is stock from 15 years ago and very dated.
Click to expand...
probably why Zillow is halting any further purchases. 

 
BassNBrew said:
I know there are some Opendoor fans here so I thought I'd share.

Opendoor purchased a home in my neighborhood for $417K on July 2nd (53% more than it sold for 2 years ago).  They painted and replaced the carpet ($5k) and relisted for $435 on 7-20.  They've dropped the price 4 times in 4 months.  They will be on the hook for 2.5% buyer's agent commission, close to $3k in taxes and HOA dues, and over $3k in HOA fines.  I'm sure the previous owner who sold it to them are laughing at these suckers all the way to the bank.  

I figured this would be an arms race vs Zillow and the others to attempt to buy market share with shareholder funds.  I just don't see how the business model works long term once the real estate market stalls.  They are staring at $50k loss before you even consider the cost of the funding and the salaries paid to employees working this property.  Biggest issue IMO is that they bought based on comps of current properties that have seen some renovation and this place is stock from 15 years ago and very dated.
Click to expand...
Great. Hope they all get screwed. 

 
BassNBrew said:
I know there are some Opendoor fans here so I thought I'd share.

Opendoor purchased a home in my neighborhood for $417K on July 2nd (53% more than it sold for 2 years ago).  They painted and replaced the carpet ($5k) and relisted for $435 on 7-20.  They've dropped the price 4 times in 4 months.  They will be on the hook for 2.5% buyer's agent commission, close to $3k in taxes and HOA dues, and over $3k in HOA fines.  I'm sure the previous owner who sold it to them are laughing at these suckers all the way to the bank.  

I figured this would be an arms race vs Zillow and the others to attempt to buy market share with shareholder funds.  I just don't see how the business model works long term once the real estate market stalls.  They are staring at $50k loss before you even consider the cost of the funding and the salaries paid to employees working this property.  Biggest issue IMO is that they bought based on comps of current properties that have seen some renovation and this place is stock from 15 years ago and very dated.
Click to expand...


Good info.  How were you able to find out what "renovations" they did?  Did you tour the house before/after or something?

Seems crazy that they think paint and carpet would make a discernable difference.  Even if they sold at list price which was 18k over what they paid it's hard to imagine much profit in that once you factor in all the costs that go along with real estate.

435,000
- 417,000 (cost)
- 5,000 (reno)
- 10,875 (buyer agent commission)

= 2,125 profit

But that's assuming $0 in closing costs, $0 paid in taxes/fees on closing, etc, which I doubt was truly $0.

It seems like that would barely pay back the people they hired to do all the work on the deal, much less turn a profit.  And that's assuming they got full asking price.  What exactly was the business plan here?

 
FreeBaGeL said:
Good info.  How were you able to find out what "renovations" they did?  Did you tour the house before/after or something?

Seems crazy that they think paint and carpet would make a discernable difference.  Even if they sold at list price which was 18k over what they paid it's hard to imagine much profit in that once you factor in all the costs that go along with real estate.

435,000
- 417,000 (cost)
- 5,000 (reno)
- 10,875 (buyer agent commission)

= 2,125 profit

But that's assuming $0 in closing costs, $0 paid in taxes/fees on closing, etc, which I doubt was truly $0.

It seems like that would barely pay back the people they hired to do all the work on the deal, much less turn a profit.  And that's assuming they got full asking price.  What exactly was the business plan here?
Click to expand...


I live next door so I saw the contractors come and go.  I also called in the HOA violation which they have left and have been accumulating fines at $100 a day.  Might be able to avoid a dues increase if they ignore the violation much longer.

Business plan is market share and force the competition out of business.  I have people calling me everyday to buy my home.  Usually they are calling on one I already sold.  It's hard to imagine all these companies and flippers can be scratching out a living.

Longer term I can't figure it out.  As you point out above, investing $430k for a $2k profit is a horrible business model.  Margin is too thin and a reason why I'm not an Opendoor investor.

 
BassNBrew said:
I live next door so I saw the contractors come and go.  I also called in the HOA violation which they have left and have been accumulating fines at $100 a day.  Might be able to avoid a dues increase if they ignore the violation much longer.

Business plan is market share and force the competition out of business.  I have people calling me everyday to buy my home.  Usually they are calling on one I already sold.  It's hard to imagine all these companies and flippers can be scratching out a living.

Longer term I can't figure it out.  As you point out above, investing $430k for a $2k profit is a horrible business model.  Margin is too thin and a reason why I'm not an Opendoor investor.
Click to expand...
Never really got their's or similar business models. I've seen it mentioned as a way to get more people/realtors into using their other services, but doesn't seem particularly likely. A good way to flush cash down the drain though.

 
McBokonon said:
So $PINS is being pulled down with the post-SNAP fallout and is trading around $59 or whatever. The purported price tag in the rumored PYPL buyout was $70. Neither company has denied the rumors. That doesn’t mean it’s true but if you want to speculate that it is, you have $10 a share just staring at you.
Click to expand...
Aaaaand $PINS down to $49 pre-market after Paypal says never mind.

 
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