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I still have a decent sized TQQQ position but will add more if this drop continues. Been thinking of adding more SOFI too. That one seems due for a pop. Maybe after these recent target price cuts settle a bit.
Thanks GB. Bought in December 2018 at $48.37. It was over $100 earlier in the year but they've been rocked with scandals.
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.
You were right on it, today would have been a good day to add. up 16% after hours
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.
February 12 - the rocket takes off. If not, April 7 for sure.Capella said:
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!
I had this nailed, just a month early. Honestly, got lucky to get out in the money when I did.
This might be an interesting read when it comes out next monthJudge Smails said:
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.
I've heard that phrase tossed around somewhere before - can't remember where.
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.
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.
So....I have some of this...not a ton, but been watching and haven't pulled the trigger yet.
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.
