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Stock Thread (269 Viewers)
- Thread starter St. Louis Bob
- Start date
Al Czervik
Not wearing pants
Bought some CMLF. SPAC targeting life sciences companies that enable and support innovation. Board of Directors includes Sean George, PhD, CEO Invitae $NVTA and Emily Leproust, PhD, CEO Twist Bioscience $TWST which are both large ARK holdings.
BigJohn
Footballguy
What you’re missing (and what I was missing until I just spent 20 minutes on a scratch piece of paper figuring out) is that you have to factor in the losses for selling your shares short, back into the cost basis of your remaining shares.Desert_Power said:
500 @ $5.00
minus
200 @ $2.00
You’re recovering $400 of your original cost, but you lost $600 on that trade.
So, you’re remaining 300 shares @ $5.00 also need to include that $600 loss. So you go from a $1,500 total cost basis to $2,100 for 300 shares, which equals $7.00 per share cost basis.
JAA
Footballguy
I think GME will happen more often that not until the govt steps in and starts regulating this hedgies and their stock short lending. Its not reasonable that 133% of the the float can be shorted.
JAA
Footballguy
Yea - I was a little annoyed at them since purchase, but they are only my 2nd MJ stock so I decided to hold long. Pretty happy with the last 2 days.
Nigel
Footballguy
I should have sold wayyyy less on its way up to current highs. Still have enough to enjoy it but damn.Should've bought wayyyy more FLGT at 117.
JAA
Footballguy
Huge momentum, but it does look to be coming off of the exponential growthShould've bought wayyyy more FLGT at 117.
JAA
Footballguy
Was thinking about @cosjobsand his selloff, trying to think if I should consider doing some of the same. One environmental indicator may be the potential of the upcoming $1400 stimulus checks. If these do come, more money into circulation should increase the demand for investments, for at least a period of time. Once that stimulus runs out, maybe a month or so later, I think I would reconsider a stronger cash position.
caustic
Footballguy
All I know about crypto is that Mancini is bullish on BTC, so I opened positions in GBTC and ETHE recently.
Or say someone sees all the excitement in the other thread, and when it hits $10 he finally figures it's for real and buys in. Takes $10,000 out of his bank account and buys 1,000 shares. Then the price plummets down to $3 in ten minutes, he panics, and decides to sell half to get some of his money back. So he sells 500 shares for $1,500 which he puts back in his bank account. He's left with 500 shares and he's out $8,500 for them. Math says the average cost of the remaining shares is $17, that's what the stock price will have to rise back up to before he breaks even.
FLFT and SNDL are neck and neck in the 2021 stock contest. Both with over 200% return after just a bit more than a month.
Dr. Octopus
Footballguy
The AMC "Reddit run" was a few weeks back - it's tanked hard since.Helaire-ious said:
Sand
Footballguy
Bob Sacamano
Footballguy
I get trimming risk, and I get what you're seeing with UVXY hovering around $10. I don't get JOFFU, though. You basically have $.65 downside risk. Felt you had too much regardless? Something else?cosjobs said:
urbanhack
Fight The Power!
randall146
Footballguy
Can we talk that through a little more?Was thinking about @cosjobsand his selloff, trying to think if I should consider doing some of the same. One environmental indicator may be the potential of the upcoming $1400 stimulus checks. If these do come, more money into circulation should increase the demand for investments, for at least a period of time. Once that stimulus runs out, maybe a month or so later, I think I would reconsider a stronger cash position.
The stimulus checks should add to consumer spending, but the percent of people qualified to receive a check who also invest should be pretty small, so would the checks really increase the demand side on investments?
cosjobs
Footballguy
I didn't want to try and pick the winners/losers, so did a clean sweep. I'll probably get back in many of them by next week. I have a bad habit of leaving profits on the table that I wanted to break.
JAA
Footballguy
Isnt this a lot of the growth of RobinHood?Can we talk that through a little more?Was thinking about @cosjobsand his selloff, trying to think if I should consider doing some of the same. One environmental indicator may be the potential of the upcoming $1400 stimulus checks. If these do come, more money into circulation should increase the demand for investments, for at least a period of time. Once that stimulus runs out, maybe a month or so later, I think I would reconsider a stronger cash position.
The stimulus checks should add to consumer spending, but the percent of people qualified to receive a check who also invest should be pretty small, so would the checks really increase the demand side on investments?
cosjobs
Footballguy
I get what you are saying and its valid. But I figured those checks were a few weeks off and might have a few scares on whether or not they even pass. This isn't a divorce, its a trial separation.Was thinking about @cosjobsand his selloff, trying to think if I should consider doing some of the same. One environmental indicator may be the potential of the upcoming $1400 stimulus checks. If these do come, more money into circulation should increase the demand for investments, for at least a period of time. Once that stimulus runs out, maybe a month or so later, I think I would reconsider a stronger cash position.
Tbc, I am not predicting a correction of any magnitude. My primary motivation was to solidify profits
JAA
Footballguy
Went into my 3rd MJ stock with BLDV. I wanted to get into a penny stock with a huge upside. While this is a huge risky play, Im optimistic this company, which already has over 1mil in revenue and trying to do a stock by-back, will see some significant growth over the coming weeks/months. I believe this will be a short and high risk hold, but one im not sure I would worry about holding the bag on.
Bob Sacamano
Footballguy
lol
Looked at GLUU a week or 2 ago and didn't pull the trigger.
Looked at GLUU a week or 2 ago and didn't pull the trigger.
cosjobs
Footballguy
cosjobs
Footballguy
The latter is probably most important. I think within the year, most companies will have a portion of their funds in btc.
2Squirrels1Nut
Footballguy
2Squirrels1Nut
Footballguy
Desert_Power
Footballguy
urbanhack
Fight The Power!
General Malaise
Footballguy
Posted in another thread, but I'm curious how much money is coming into the markets from inheritance? We've lost 465,000 Americans to Covid and while I'm sure not all of them are leaving a nestegg behind for loved ones, there has to be some sudden windfalls out there for people who weren't expecting them so soon. With limited options for fixed income out there, how much of these dollars are working their way into the markets?
Am I off base here?
Am I off base here?
Nigel
Footballguy
I tailed you on this one last month, and doubled my position last week - now averaged at $0.70.
I also think it was you I tailed on AYRWF back in Nov, nearing a double on that one.
Angry Beavers
Footballguy
not enough to make a difference. You would be surprised. People get $ and go spend it - some of it is hitting the market, but not as much as you would think.
2Squirrels1Nut
Footballguy
General Malaise
Footballguy
Think I'm going to show my twin boys Brewster's Millions this weekend. Man, what an underrated gem of a movie. I probably spent more time as a kid fantasizing about what I'd do with this money than I did any of the SI Swimsuit models combined*.
*Paulina Porizkova excluded.
cosjobs
Footballguy
Actually spending it is just as good as its pumped into the economy and raises stocks valuations. Its when they save it that there is not effect on the economy
Exactly, I would argue that inherited money is much more likely to be taken out of the stock market. In my experience folks that inherited money spend through the majority of it right away.
2Squirrels1Nut
Footballguy
General Malaise
Footballguy
Money Markets are up nearly 1 Trillion Dollars year over year. Lotta cash sitting out there too.
General Malaise
Footballguy
SNDL (Sundial, they do teh pot) having barnbuster day today!
Bob Sacamano
Footballguy
Anybody still in SDGR? People treating it as a long-term hold? So tempting to take the short-term returns on it, but I don't want to IMMR it either.
TripItUp
Footballguy
Another twist to this, is that the majority were being supported by entitlements (medicare/social security etc.).
It's a huge boost to the govt, and economy when non-working/producing persons pass. In addition to the savings/inheritance liquidity mentioned above...govt gets a huge chunk of that too via taxes.
It's a silver lining of sorts...one that we would rather not have of course.
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JAA
Footballguy
FYI - the more and more I read is that this will not be a high growth stock, more of a long term slow and steady. I will be re-evaluating on a weekly basis. It is up 8% today so ...I'll ride shotgun on this one.
