Orange&Blue
Footballguy
Also looking like a good time to make our Roth IRA contributions for the year.
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Stock Thread (28 Viewers)
- Thread starter St. Louis Bob
- Start date
TripItUp
Footballguy
PE is now sub 20. I don't mind it here at all. I think I'm going to load up actually.
2Squirrels1Nut
Footballguy
Thanks GB. Bought in December 2018 at $48.37. It was over $100 earlier in the year but they've been rocked with scandals.
Desert_Power
Footballguy
Stonks 
I got rid of mine @ $70 and it looked decent until this. Got rid of ZNGA at $8 as well. Both had languished down 10% and 25% and looked like better opps. Didn’t think a buy would come that quick.
2Squirrels1Nut
Footballguy
Judge Smails
Footballguy
Meme stocks. Wow
Dwayne Hoover
Footballguy
You were right on it, today would have been a good day to add. up 16% after hours
https://finance.yahoo.com/news/sofi-receives-regulatory-approval-become-230100572.html
Is it surprising? A downturn means people are getting out of suspect stuff first. There’s folks who will believe in them till the money is gone but most investors probably got on for the ride.
AMC is the one I just don’t get at all. Short squeeze? The execs more than quadrupled the share count since the pandemic and the CEO and CFO have sold basically all vested shares. Lol at people acting like all the unvested shares showing they believe in it. Nope, that just means that can’t sell those shares yet. Business has way more debt and movie numbers even with Spider-Man are way the heck down from pre-pandemic and their revenues were already declining every year before the pandemic. Streaming is killing the theaters. Sure, everyone wants to see Spider-Man at the theaters. Other movies, not really. Not enough for market cap to be more than twice what it was when times were better with less debt.
I don’t believe in the others either. Priced to perfection of a full turn around and major initiatives is not how you make money. You make money buying in low and having the stocks make more money year over year. Betting long term on highly shorted stocks is a losing proposition unless there is a miracle turnaround. Betting long term on a dog and paying the assume the miracle turnaround has already happens price is even worse.
Can’t wait to see the Trump social media release. That will be fun.
Judge Smails
Footballguy
Not surprising at all.
fruity pebbles
Footballguy
Capella
Footballguy
culdeus
Footballguy
Dr. Octopus
Footballguy
February 12 - the rocket takes off. If not, April 7 for sure.Capella said:
James Daulton
Footballguy
I assume some folks are still diamond hands and adding to their already sizeable position while making boatloads on the way down. The shorts are terrified.Judge Smails said:
If you want a good laugh go to the AMC discussions. You’ve got people asking when things will turn around saying they average a $45 cost basis on 13.5k shares (nice $350k loss). As far as I can tell on Twitter, there are a lot of sex workers (not kidding), single parents who think they will be passing on generational wealth and random people who eat up anything they read. It’s tough knowing some of these people are going to lose a lot of money they probably can’t afford to lose, but honestly, they’d be chasing after some other cause or cult. I just laugh because I have no idea if some of it is real or if the sex workers are trolling for viewers (very likely as well).
You know, my son made a comment like this when we were late for his orthodontist appointment yesterday. Hey dad, we seem to be catching all green lights. If I had laser eyes, pretty sure the look I gave him would have burned. Needless to say, we seemed to hit all red lights the rest of the way. Luckily, didn’t hurt us but my advice is to enjoy it and keep your trap shut!
2Squirrels1Nut
Footballguy
Personally I always think "whew, Jason is dead! We can all come out now!"
Doesn't mean I'm right or wrong but always the feeling I get after days like yesterday.
Craig_MiamiFL
Footballguy
2Squirrels1Nut
Footballguy
I had this nailed, just a month early. Honestly, got lucky to get out in the money when I did.
I've looked repeatedly to short it, GME (Sorry GBDodds) and DWAC via options but it's incredibly expensive which tells you something. According to options pricing, the more months you go out, the more likely the stock will be significantly lower in price.
For example on DWAC, it's currently trading at $92 per share. A January 2023 option to sell (put) at $90 is $69 per contract. That means it needs to drop 77% below $21 per share in the next 12 months to make money. That's CRAZY.
Dr. Octopus
Footballguy
McBokonon
Footballguy
This might be an interesting read when it comes out next monthJudge Smails said:
The Revolution That Wasn’t
During one crazy week in January 2021, a motley crew of retail traders on Reddit’s r/wallstreetbets forum had seemingly done the impossible—they had brought some of the biggest, richest players on Wall Street to their knees. Their weapon was GameStop, a failing retailer whose shares briefly became the most-traded security on the planet and the subject of intense media coverage.
The Revolution That Wasn’t is the riveting story of how the meme stock squeeze unfolded, and of the real architects (and winners) of the GameStop rally. Drawing on his years as a stock analyst at a major bank, Jakab exposes technological and financial innovations such as Robinhood’s habit-forming smartphone app as ploys to get our dollars within the larger story of evolving social and economic pressures. The surprising truth? What appeared to be a watershed moment—a revolution that stripped the ultra-powerful hedge funds of their market influence, placing power back in the hands of everyday investors—only tilted the odds further in the house’s favor.
Online brokerages love to talk about empowerment and “democratizing finance” while profiting from the mistakes and volatility created by novice investors. In this nuanced analysis, Jakab shines a light on the often-misunderstood profit motives and financial mechanisms to show how this so-called revolution is, on balance, a bonanza for Wall Street. But, Jakab argues, there really is a way for ordinary investors to beat the pros: by refusing to play their game.
That’s not even where I got it. I’ve seen many tweets with that exact text, which may also mean all of them are getting it from the same sources. Honestly, it’s not much different than the people getting their vaccine info from online sources where you see the same misinformation anecdotes parroted all over the place.I've heard that phrase tossed around somewhere before - can't remember where.
DWAC reminds me of Lucid pre-changeover. There were a lot of assumptions being made without knowing how much of the company the SPAC investors would get and that, even with the run up, is still 40% down from the high. I think DWAC is the same. The market cap of the SPAC is almost meaningless right now because you don’t know what ownership market cap the SPAC is getting. I saw an article with a $3.5 market cap for the company and that’s incorrect. That’s just the SPAC price times the outstanding shares. How many shares does the entire company have and how much of the company is owned by the SPAC.
Personally, I don’t think much of the company right now but very much believe that the SPAC price is completely out of whack with the reality just purely based on ownership % of the final company market cap.
SFBayDuck
Footballguy
I've heard that phrase tossed around somewhere before - can't remember where.
I thought it was the greatest transfer of wealth in human history?
Desert_Power
Footballguy
Sounds like a good read. However, this was pretty obvious at the time. Not surprising at all.
It may be, just not in the direction assumed. It’s funny that Roaring Kitty was the GME poster child but come to find out he was a broker and his company was fined for his trading activity. Roaring Kitty made way more than the folks who jumped on too late with the gamma squeeze talk. On the AMC side, the CEO is the ape poster boy and he and his CFO buddy have sold all their vested shares. The leaders of the revolution are the ones that profited from the random retail traders who basically paid the leaders who are the same evil broker/hedgie/Wall Street cronies retail traders are railing against.
Sand
Footballguy
fruity pebbles
Footballguy
True, you could look at the drops and see the normal tech high flyer drop. GME is going to be slower because there is a belief of growth. Personally, I think the Microsoft deal just cements my thoughts and that hoping for some sort of NFT dream is just that. As I mentioned a long time ago, they (like AMC as well), GameStop has no content so why would anyone want to just split the profit. AMC has distribution some clients want but their revenue is dropping as it was pre-pandemic. GameStop folks were acting like Microsoft and Sony would cut them in on game revenue. I haven’t seen that happen and it’s not getting closer. AMC is a joke TBH. It’s still worth more than double of its peak and it’s revenue is much lower and not getting better and they took on more debt and the execs gave themselves nice amounts of stock to sell.
GreenNGold
Footballguy
2Squirrels1Nut
Footballguy
Dow down 4 straight days.
This should be the day everything rockets back up.
Right?
This should be the day everything rockets back up.
Right?
Picked up some Fulgent yesterday when the PE was below 3.6.
Someone is going to have to buyout these guys right? Right now Fulgent's market cap is firmly between Cytodyn and DWAC. They are sitting on $1.1 billion in cash and short term investments.
Someone is going to have to buyout these guys right? Right now Fulgent's market cap is firmly between Cytodyn and DWAC. They are sitting on $1.1 billion in cash and short term investments.
Dr. Octopus
Footballguy
I keep adding more and more NVDA. I hope my faith pays off - but this one just seems like it has to come back strong once the market shifts back.
The Commish
Footballguy
So....I have some of this...not a ton, but been watching and haven't pulled the trigger yet.
beef
Footballguy
One of the reasons why I bought more SOXL. The entire Semi sector has given back a lot of their Nov-Dec gains. Maybe they shot up too much too fast and needed this retreat, but hell yeah I'll buy more.
fruity pebbles
Footballguy
Peloton crashing. Company stopping production
ConstruxBoy
Kate's Daddy
Yikes
Damn. That ain’t good. I did feel like I missed the boat on PTON but I never really liked the stock. Glad I stuck with my gut. Something about exercising always being a fad driven area and gyms being a destination now open again. Too many stories about old equipment holding laundry.
Dr. Octopus
Footballguy
Dr. Octopus
Footballguy
The pandemic was the perfect back-drop for the company to take off but this always screamed "fad" to me.
Yep, I know they were bucketed with lots of tech companies because of the software/subscriptions but I could never buy them over a ZS or CRWD or other real software companies. It’s been a quick sharp downturn. $160 to $26 in a year.
I pointed this out a 14-15 months ago. I forget which quarter it was, but when they didn't show a profit during the pandemic, it was time to cut bait.
Dodds recommend this stock at around $120 last year. I made a small profit on it but am thrilled I got out in the low 100s.
