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scaredyclassic.
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May 28, 2020 at 3:36 PM #817606May 28, 2020 at 4:01 PM #817608
The-Shoveler
Participant[quote=outtamojo][quote=Coronita]My goodness, this company screams fraud…
https://finance.yahoo.com/quote/ABIO
$7 stock to $19 in one day. It seems like people are going crazy over any company that is trying to introduce anything related to covid testing or a vaccine, even if it’s meritless.[/quote]
Kinda like the early internet days when a brick and mortar mentioned a web site[/quote]
LOL But this time it’s the millennials turn.
Seems to me it’s mostly the FANG stocks holding the indexes up.SPYD does not have these big names and it is still down 25-30% .
May 28, 2020 at 5:25 PM #817610ltsddd
ParticipantI am going to short 100 shares of ABIO tomorrow, if it’s still 15 or higher, just for the rush.
May 28, 2020 at 5:51 PM #817612
CoronitaParticipant[quote=ltsddd]I am going to short 100 shares of ABIO tomorrow, if it’s still 15 or higher, just for the rush.[/quote]
You can’t. Not enough float. That was my initial thought as well but I checked and the normal volume.is around 20k/day there aren’t enough float shares tha brokerage firms would allow a short. Tried all 3 brokerage firms, was going to
call a 4th but so far no way. Let me know of you can.In any case, shorting this stock probably is a very risky idea. If it’s really being manipulated you could be on the wrong side during this manipulation and might not be able to weather it out until things start trading at normal price again.
If you really want to play the game of thinking this will go down, buy PUT options because at least you can keep your potential losses capped and to a specific duration. Even with the extra premium you’d pay for the option contract, that premium wouldn’t matter if the stock crashes and burns back to what it was trading before today, since you’re counting on a crash and burn wipe out the stock price in a big swoop before the option contract expires. And if it doesn’t before the expiration date, you are limiting your potential loss if this stock still behaves irrationally. A slightly out of money put option that expires 1 year from now should do the trick if this is manipulation since it’s unlikely they could contain this euphoria past 1 year without real test results. Anything shorter is risky imho.
Unfortunately , though, I checked that too… no one is writing any options for this small company… Probably because no one is crazy enough too.
Pass…
Meanwhile, I think that’s the game I’m going to play if speculators drive up Moderna back up to $86. After I sold, I was tempted to immediately buy 11 year expiring put options on Noderna too, since I figure the unexpected gain on the way up would more than pay for the 1 year put options even if they expired worthless (or stock price stayed at $80ies over the next year). Had I done that, it would have been a fun trip all the way up and all the back down to $50ies where it is today. Oh well, you can’t win them all.
May 28, 2020 at 5:53 PM #817613ParticipantI checked the options. These small potatoes usually don’t offer options.
May 28, 2020 at 7:17 PM #817614CoronitaParticipant[quote=ltsddd]I checked the options. These small potatoes usually don’t offer options.[/quote]
Nope. No options. I’ve tried… Boy have I tried…. I’ve been looking at some of these opportunities on my furlow Fridays starting last week…
Either some small company that plans to make a covid “PR stunt” to boost prices and get in before that happens …
Or a company that already made a PR stunt in which suckers have already bought into the hype to try to buy out of money 1 year or longer expiring options.I figure if I find 5-6 of these companies 1 might survive while the others crash and burn back down to reality.
Remember all those companies trading on OTC pink sheets that was pulling out their PR stunt “Rare Earth Metals” when that was all hyped up? Yeah most of those companies have gone under. lol.
May 29, 2020 at 11:47 AM #817628FlyerInHi
GuestWow. Carl Icahn lost $2 billion on hertz.
There definitely are winners and losers
https://www.cnn.com/2020/05/28/investing/carl-icahn-hertz-bankruptcy-loss/index.htmlMay 29, 2020 at 12:26 PM #817634CoronitaParticipant[quote=ltsddd]I checked the options. These small potatoes usually don’t offer options.[/quote]
https://finance.yahoo.com/quote/ABIO
is down 30% today. That would have been a beautiful short if it were possible….Drat.
June 1, 2020 at 6:44 AM #817728ParticipantCoronavirus/Racial Riots/Economy/Stock Market
Riots…is this one of those situations that’s unfolding in slow motion and MOST people just simply not noticing it? Can’t be good for the stock market. Not now with the riots and not later with the outcome of the trials for the cops. I am taking even more money off of the table.
June 1, 2020 at 7:34 AM #817731scaredyclassic
Participant[quote=ltsddd]Coronavirus/Racial Riots/Economy/Stock Market
Riots…is this one of those situations that’s unfolding in slow motion and MOST people just simply not noticing it? Can’t be good for the stock market. Not now with the riots and not later with the outcome of the trials for the cops. I am taking even more money off of the table.[/quote]
Maybe we are just iraq circa 2003. Rumsfeld says looting is a sign of good things to come. Stay invested!
DEFENSE NEWS APRIL 11, 2003
WASHINGTON, April 11 (UPI) — U.S. forces should not be blamed for the lawlessness and looting in Baghdad as it is a natural consequence of the transition from a dictatorship to a free country, Defense Secretary Donald Rumsfeld said Friday at the Pentagon.
“The task we’ve got ahead of us now is an awkward one … It’s untidy. And freedom’s untidy. And free people are free to make mistakes and commit crimes and do bad things. They’re also free to live their lives and do wonderful things. And that’s what’s going to happen here,” Rumsfeld said.
June 1, 2020 at 7:35 AM #817729CoronitaParticipant[quote=ltsddd]Coronavirus/Racial Riots/Economy/Stock Market
Riots…is this one of those situations that’s unfolding in slow motion and MOST people just simply not noticing it? Can’t be good for the stock market. Not now with the riots and not later with the outcome of the trials for the cops. I am taking even more money off of the table.[/quote]
inconsequential imho. Most of the stores weren’t open to begin with. And with some of them burned down, financially it might have been better for the business owner if they were insured and get an insurance settlement versus be closed and losing a lot of money.due to lack of business. Then again, not sure businesses are insured against riots.
Side note, China Max burning down not long after covid scarying away customers seems suspicious to me. I wonder if the fire was deliberately started.
June 1, 2020 at 7:47 AM #817733ParticipantMy attempt to short 20 shares of tsla was rejected. wth?
June 1, 2020 at 10:35 AM #817735CoronitaParticipant[quote=ltsddd]My attempt to short 20 shares of tsla was rejected. wth?[/quote]
maybe someone is watching out for you. not sure if I would want to do that.
Tesla is up almost 6% today. It’s probably a good thing you couldn’t short.
June 1, 2020 at 10:36 AM #817736CoronitaParticipanthttps://finance.yahoo.com/quote/ABIO
ABIO craters back down to earth. Told ya it was being manipulated.
June 2, 2020 at 7:47 AM #817788ParticipantBefore this month is over. We’ll be hearing ventilators again and again and again. All those in-your-face shouting is exactly what not to do wrt the coronavirus. We should all learn to protest like Gandhi did.
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