1 minute ago, skiwest said:

Buy on the rumor. Sell on the news.

 

It started the day down 1.8% before the news lol

EV stocks looking good so far. NIO and WKHS are both up.

I bought back into Riteaid around the time they were talking about merging with Albertsons. That deal fell though but since it's doubled its value. Amazing what a few profitable quarters will do!

 

22 minutes ago, YABO713 said:

It started the day down 1.8% before the news lol

 

Earnings are never released during market trading.  So it's likely that they announced earnings before 9:30 am eastern today and some of the pre-market movement was in reaction to that.

 

As for why...I have no idea about the company you're referring to lol

14 minutes ago, DarkandStormy said:

 

Earnings are never released during market trading.  So it's likely that they announced earnings before 9:30 am eastern today and some of the pre-market movement was in reaction to that.

 

As for why...I have no idea about the company you're referring to lol

 

I invested in them because they're local - HQ'd in Medina - and have solid financials. I was estatic when they announced earnings then checked my portfolio and was shocked. I have 20 $90 calls expiring on January 15, and the day started around $88, I expected a surge, instead it's down a bit 

 

https://finance.yahoo.com/quote/RPM/

4 minutes ago, YABO713 said:

I invested in them because they're local - HQ'd in Medina - and have solid financials. I was estatic when they announced earnings then checked my portfolio and was shocked. I have 20 $90 calls expiring on January 15, and the day started around $88, I expected a surge, instead it's down a bit 

 

https://finance.yahoo.com/quote/RPM/

 

Never hold calls into earnings lol

2 minutes ago, DarkandStormy said:

 

Never hold calls into earnings lol

 

Lol - I still have 8 days, fortunately. 

On 12/7/2020 at 10:14 AM, jmblec2 said:

What business does he run other then his youtube/podcast channel/ books

? 

He developed training classes that people/families sign up for. I think it's about 8 weeks long. Called "Financial Peace University."

Edited January 6, 20214 yr by Cincinnatus

1 hour ago, freefourur said:

EV stocks looking good so far. NIO and WKHS are both up.

1/04/21

Workhorse Group, Inc. (WKHS) Stock Price, News, Quote ...

https://ca.finance.yahoo.com › quote › wkhs

Pride Group Enterprises, a privately held commercial-vehicle wholesaler that operates in the U.S. and Canada, has placed an order for 6,320 of its new C-Series ...

 

Green figure is my WKHS stock...

 

19 minutes ago, Cincinnatus said:

He developed training classes that people/families sign up for. I think it's about 8 weeks long. Called "Financial Peace University."

 

I tell people that expensive SUVs are embarrassing for free.

Oh yeah, there's the app too...

Is EveryDollar the Ramsey version of Mint?

 

Either way, since that called it into my mind: The Achilles' heel of such personal finance monitoring/aggregation services is old-school financial institutions.

 

Almost all of our household money is invested through Fidelity, a very modern brokerage with one of the best Web interfaces in the business, zero commissions for most trades, good mobile and tablet apps, and a desktop app, Active Trader Pro, that has a low-tech aesthetic just because it apes Bloomberg Terminal.

 

Almost all of our household debt has been borrowed from Firestone Federal Credit Union, which just within the last few months outsourced its online banking to a third party host, HomeCU, that works for a lot of other credit unions, because they weren't going to spend any more building it up in-house.  Though, in fairness, they did invest at least some in their online banking capabilities.  In 2012, when we started using them, you could not access your statements in PDF form online; by 2020, you could.  (You couldn't do anything else online, but you could do at least that much!)  Even today, I think their Web site would load just fine in Netscape Navigator.

 

Needless to say, Firestone FCU will not load into Mint or Fidelity FullView (their in-house answer).  So our mortgage and car loans are conveniently omitted from such budget and expense trackers.  Minor omission there.

1 minute ago, Gramarye said:

Is EveryDollar the Ramsey version of Mint?

 

Pretty much, I think.  There is probably some back-door way it gets fees or at least entrenches users in the "Ramsey" biosphere.  

 

My credit union also uses an old-school website.  I like it because it's straightforward and they aren't trying to sell you crap all of the time like the big banks.  

 

Also, the big bank websites (BOA, Wells, Fifth Third) TRY to trick you into making mistakes.  For example, if you pay on your credit card or a regular bill or a regular transfer to another bank, it doesn't say "pending" in a logical way like it used to.  Instead it says absolutely nothing meaning you can think you did it wrong and then you errantly overdraw your checking account.  

I had to get used to that for my business account. Remember, there are NO consumer protections when you are running a business so it's all Wild West. B2Bs don't have to do anything that they feel won't hurt their reputation enough to get us talking amongst ourselves.

23 hours ago, jmecklenborg said:

 

Pretty much, I think.  There is probably some back-door way it gets fees or at least entrenches users in the "Ramsey" biosphere.  

 

 

It is like Mint. ED charges a monthly fee, I believe $10/month?

Question ...

 

Does anyone on here use SoFi? I've had it a few weeks and love it so far, but would like to hear others opinions that have had it for a while.

Can someone explain Ohio House Bill 312?

 

It is a Crowdfunding bill for fiscal 2021 to allow three projects to proceed to the Ohio Controlling Board:

Sherwin Williams Co., Cleveland, $35 million.

Columbus Crew SC, Columbus, $25 million.

Origin Malt, Marysville, $10 million.

 

"Only Ohio residents can purchase securities, and an investor is typically limited to a $10,000 contribution per year"

 

Does it mean I could invest in a project? Or is there some voodoo witchcraft involved?

 

Cleveland's skyline could dramatically change under legislation signed by DeWine (Cleveland Business Journal)

 

Link to Ohio House Bill 312

 

Sorry if this isn't the right thread to ask this.

1 hour ago, WhatUp said:

Can someone explain Ohio House Bill 312?

 

It is a Crowdfunding bill for fiscal 2021 to allow three projects to proceed to the Ohio Controlling Board:

Sherwin Williams Co., Cleveland, $35 million.

Columbus Crew SC, Columbus, $25 million.

Origin Malt, Marysville, $10 million.

 

"Only Ohio residents can purchase securities, and an investor is typically limited to a $10,000 contribution per year"

 

Does it mean I could invest in a project? Or is there some voodoo witchcraft involved?

 

Cleveland's skyline could dramatically change under legislation signed by DeWine (Cleveland Business Journal)

 

Link to Ohio House Bill 312

 

Sorry if this isn't the right thread to ask this.

I thought it was designed to allow life insurance companies and other institutional construction lenders the ability to get additional tax credits on some of these larger scale construction projects?

HB 312 is unrelated to the TMUD tax credit program which was already signed into law yet has no rulemaking established so far and thus no project beneficiaries identified yet. Read more about the TMUD tax credit here:

https://neo-trans.blogspot.com/2020/12/megaproject-tax-credit-signed-into-law.html

Apple earnings on Wednesday.

 

A paltry 660 billion until 3 trillion market cap to go.

GameStop is having a totally normal one lol

 

Short interest outweighs the # of shares outstanding, so it's having a bunch of wild swings.

Thanks to RobinHood for turning GameStop into a game itself.

On 1/23/2021 at 2:30 PM, TBideon said:

Apple earnings on Wednesday.

 

A paltry 660 billion until 3 trillion market cap to go.

 

It's hard to believe that Apple is now worth almost 4X what Wal-Mart is worth.  In the 1990s and 2000s, Wal-Mart was poised for world domination and attracted the ire of Michael Moore and proto-antifa.  Now nobody seems to worry about them anymore.   I looked back and at one time in the early 2000s they were the fourth most valuable company in the world behind General Electric, Exxon, and Microsoft, in that order.  

 

 

 

 

 

3 minutes ago, jmecklenborg said:

 

It's hard to believe that Apple is now worth almost 4X what Wal-Mart is worth.  In the 1990s and 2000s, Wal-Mart was poised for world domination and attracted the ire of Michael Moore and proto-antifa.  Now nobody seems to worry about them anymore.   I looked back and at one time in the early 2000s they were the fourth most valuable company in the world behind General Electric, Exxon, and Microsoft, in that order.  

 

And in another 25 years, we shouldn't be at all surprised if some company that we've never heard of is in the top ten, or even #1.  Just as IT opened basically an entire new sector of the economy in the 1990s, the dominant companies of the 2040s may well be in an industry that is essentially speculative today.  My hope is on regenerative biotechnology and healthy life extension technology, but there could be others, too.  3D printing.  Geoengineering.  Asteroid mining.

23 minutes ago, jmecklenborg said:

 

It's hard to believe that Apple is now worth almost 4X what Wal-Mart is worth.  In the 1990s and 2000s, Wal-Mart was poised for world domination and attracted the ire of Michael Moore and proto-antifa.  Now nobody seems to worry about them anymore.   I looked back and at one time in the early 2000s they were the fourth most valuable company in the world behind General Electric, Exxon, and Microsoft, in that order.  

 

 

 

 

 

 

Tech bros pay no attention to them for sure. Walmart is nearly invisible in tech areas yet they dominate the entire rest of the country.

50 minutes ago, Gramarye said:

 

And in another 25 years

 

Back in 2005 it would have been insane to suggest that the most valuable company in the United States, the widely diversified and wildly profitable General Electric, would almost completely eliminate its once hefty dividend and be booted from the Dow 30 thirteen years later.  

 

Just north of Cincinnati there was a GE Employee golf course.  Yes, a golf course just for employees of GE Aviation.  It was there for 50 years.  They were forced to sell it off around 2015 to...survive.  You can still see the remnants of it but it's being turned into an industrial park:

https://www.google.com/maps/@39.2996151,-84.4602648,802m/data=!3m1!1e3

 

 

52 minutes ago, GCrites80s said:

 

Tech bros pay no attention to them for sure. Walmart is nearly invisible in tech areas yet they dominate the entire rest of the country.

 

One caveat on this one.  I bet the tech bros do pay attention to Wal-Mart.  Its continued existence is one of Amazon's defenses against antitrust suits.

Biden Says Entire Federal Fleet Will Be Replaced With Electric Vehicles — Workhorse, Lordstown Surge

https://finance.yahoo.com/news/biden-says-entire-federal-fleet-060535504.html

3/19 $16 JBLU calls. 

 

Yabo's tip o' the day

https://www.nationalreview.com/corner/the-gamestop-squeeze/

 

This was an amusing piece about how a bunch of Reddit followers and small time day traders cleaned the clocks of a bunch of institutional traders Robinhood style. 

1 minute ago, Brutus_buckeye said:

https://www.nationalreview.com/corner/the-gamestop-squeeze/

 

This was an amusing piece about how a bunch of Reddit followers and small time day traders cleaned the clocks of a bunch of institutional traders Robinhood style. 

 

As an avid reddit reader ... I'm blown away by how much influence reddit actually has. From having AMA from celebs (or = status), to major news outlets quoting or using reddit sources, to now influencing the stock market. Simply amazing.

3 minutes ago, Cincinnatus said:

 

As an avid reddit reader ... I'm blown away by how much influence reddit actually has. From having AMA from celebs (or = status), to major news outlets quoting or using reddit sources, to now influencing the stock market. Simply amazing.

 

Seriously though ... my finacee once had facebook and she said she only kept it at the end because of the type of post you see on reddit. 

I said, have you not ever checked into reddit and she said - no. I said, facebook usually gets its content from reddit anyway. It's the "Front page of the Internet."

Now, she looks at it throughout the day and at night and is happy she no longer has facebook.

 

18 hours ago, jmecklenborg said:

 

Back in 2005 it would have been insane to suggest that the most valuable company in the United States, the widely diversified and wildly profitable General Electric, would almost completely eliminate its once hefty dividend and be booted from the Dow 30 thirteen years later.  

 

Just north of Cincinnati there was a GE Employee golf course.  Yes, a golf course just for employees of GE Aviation.  It was there for 50 years.  They were forced to sell it off around 2015 to...survive.  You can still see the remnants of it but it's being turned into an industrial park:

https://www.google.com/maps/@39.2996151,-84.4602648,802m/data=!3m1!1e3

 

 

 

 

developers have been buying golf courses for a long time, at least since caddyshack lol:

 

 

1 hour ago, Cincinnatus said:

Biden Says Entire Federal Fleet Will Be Replaced With Electric Vehicles — Workhorse, Lordstown Surge

https://finance.yahoo.com/news/biden-says-entire-federal-fleet-060535504.html

 

I bought 9 (yes, nine) shares back in October for $15 with dividends.  Wow, I'm big-time rich.  

 

Man, forget these EV stocks ... I'm still upset at myself for not snatching up BLNK. I thought about buying a handful when I started seeing them pop up at Kroger locations. 52 week low is $1.25, now trading at ~$60. 😞

13 minutes ago, Cincinnatus said:

Man, forget these EV stocks ... I'm still upset at myself for not snatching up BLNK. I thought about buying a handful when I started seeing them pop up at Kroger locations. 52 week low is $1.25, now trading at ~$60. 😞

 

BLNK...is an EV stock though?

PLUG is another one that has taken off

2 minutes ago, DarkandStormy said:

 

BLNK...is an EV stock though?

 

XL really has the ability to bridge the gap in the next 10 years, by converting combustible engines to EV solutions while manufacturing of EV vehicles comes to scale

 

lol

 

EDIT LOLOLOL:

 

GameStop has TTM LOSS, a $10bn market cap as of close (which may be $17bn+ after hours now), has traded 2.5x its entire float in a single day (they did this yesterday as well...they have just under 70m shares available for trading and each of the last three days over 160m shares have been traded each day), and are 5,000 brick & mortar stores in an industry that's moving to digital downloads.  What in the absolute hell.

 

What might have caused today's AH bump?

 

If the SEC actually enforced its rules this would be a fun one.

Edited January 26, 20214 yr by DarkandStormy

The power of reddit.

This has real potential to make everything go haywire if value is suddenly worthless.  Now *everyone's* going to get on reddit.  

 

A pump-and-dump over the stocks with the best story means they can literally create money out of thin air by selling more stock during the pump, i.e. Tesla.  

Just now, jmecklenborg said:

This has real potential to make everything go haywire if value is suddenly worthless.  Now *everyone's* going to get on reddit.  

 

A pump-and-dump over the stocks with the best story means they can literally create money out of thin air by selling more stock during the pump, i.e. Tesla.  

 

Sell?  stocks?

 

The WSB crowd buys calls, mostly.

Tomorrow - Apple, Boeing, Tesla, Facebook, Anthem, etc - is going to be a fun one.

11 minutes ago, DarkandStormy said:

 

What might have caused today's AH bump?

 

 

 

Both companies' current valuations are caused by the same type of people.

57 minutes ago, DarkandStormy said:

 

lol

 

EDIT LOLOLOL:

 

GameStop has TTM LOSS, a $10bn market cap as of close (which may be $17bn+ after hours now), has traded 2.5x its entire float in a single day (they did this yesterday as well...they have just under 70m shares available for trading and each of the last three days over 160m shares have been traded each day), and are 5,000 brick & mortar stores in an industry that's moving to digital downloads.  What in the absolute hell.

 

What might have caused today's AH bump?

 

If the SEC actually enforced its rules this would be a fun one.

There is more to this story than just Reddit pumping the stock. It’s more of Reddit having a positive sentiment because the stock was shorted so heavily. I think the stock was shorted at 130% of the float. It’s on a list of the most shorted stocks and the only one that has more shares shorted than available for sale. It’s ripe for the short squeeze that’s going on. I think Elon tweeting that is much less suspect than his private at $420 tweet.

37 minutes ago, RDB said:

There is more to this story than just Reddit pumping the stock. It’s more of Reddit having a positive sentiment because the stock was shorted so heavily. I think the stock was shorted at 130% of the float. It’s on a list of the most shorted stocks and the only one that has more shares shorted than available for sale. It’s ripe for the short squeeze that’s going on. I think Elon tweeting that is much less suspect than his private at $420 tweet.

 

Maybe, but primarily because Musk (to the best of our knowledge) is not a shareholder of GME, and he certainly isn't a director or officer of it.  If it turns out that Musk is secretly /u/DeepF***ingValue and has been holding this stock for years in hopes of creating a short-squeezing swarm, that might be different.

 

I only visited WSB for the first time today.  I think I'm going to stick with my Motley Fool boards for stock advice (WSB is like one of those two-minds-one-body character trops in comic books, where one mind is a sophisticated retail investor and the other one is a 13-year-old social outcast with Tourette), but I have to admit that, underneath the dank memes and triumphalism of the moment (not sure if that's a constant feature or just the effects of momentary fame and success), they actually had at least a somewhat sophisticated case, based on information that AFAIK is entirely public, for why GSE was a ripe target for a squeeze to rival the Death Star trash compactor.  The negative float, the institutional ownership.  And even some of the people there understand that they've now hitched a wild rocket that is completely unsustainable on the fundamentals and will crash at some point--though it's an open question whether they don't talk about the trigger for that point (i.e., when WSB itself begins its stampede for the exits) either because they still don't understand just how much influence they're having on the stock, or because they do understand it and it actually serves their purposes to pretend like this squeeze has tons of life left (up to the very instant when it doesn't), and they have some kind of instinctive hive mind grip on the collective-action issue that could be influenced in their own words.  If they all started saying publicly, "all right, time to take profits and run," it would actually start bringing the stock back down to Earth and there would be less profit for everyone to take.  But the underlying company has no profits to take, nor serious prospects of future profits; the profits they are taking are solely at the expense of short sellers, especially naked/leveraged ones.

 

I always tell beginning investors to always make sure they understand the difference between the stock and the company.  I encourage the habit of using the stock symbol to refer to the stock and the company name to refer to the company, just to condition one's mind to remain aware of that difference.  Why it's relevant:

 

GME is currently worth as much as CAH.

 

There is no f***ing way that GameStop is worth as much as Cardinal Health.

6 minutes ago, Gramarye said:

 

Maybe, but primarily because Musk (to the best of our knowledge) is not a shareholder of GME, and he certainly isn't a director or officer of it.  If it turns out that Musk is secretly /u/DeepF***ingValue and has been holding this stock for years in hopes of creating a short-squeezing swarm, that might be different.

 

I only visited WSB for the first time today.  I think I'm going to stick with my Motley Fool boards for stock advice, but I have to admit that, underneath the dank memes and triumphalism of the moment (not sure if that's a constant feature or just the effects of momentary fame and success), they actually had at least a somewhat sophisticated case, based on information that AFAIK is entirely public, for why GSE was a ripe target for a squeeze to rival the Death Star trash compactor.  The negative float, the institutional ownership.  And even some of the people there understand that they've now hitched a wild rocket that is completely unsustainable on the fundamentals and will crash at some point--though it's an open question whether they don't talk about the trigger for that point (i.e., when WSB itself begins its stampede for the exits) either because they still don't understand just how much influence they're having on the stock, or because they do understand it and it actually serves their purposes to pretend like this squeeze has tons of life left (up to the very instant when it doesn't), and they have some kind of instinctive hive mind grip on the collective-action issue that could be influenced in their own words.  If they all started saying publicly, "all right, time to take profits and run," it would actually start bringing the stock back down to Earth and there would be less profit for everyone to take.  But the underlying company has no profits to take, nor serious prospects of future profits; the profits they are taking are solely at the expense of short sellers, especially naked/leveraged ones.

 

I always tell beginning investors to always make sure they understand the difference between the stock and the company.  I encourage the habit of using the stock symbol to refer to the stock and the company name to refer to the company, just to condition one's mind to remain aware of that difference.  Why it's relevant:

 

GME is currently worth as much as CAH.

 

There is no f***ing way that GameStop is worth as much as Cardinal Health.

 

FWIW - The next two the WSB subreddit is pimping is Nokia and Blackberry. 

If I'm understanding this Game Stop thing, it seems that redditors are screwing with hedge funders who were taking a short position. 

Which means it can happen any time to any company. Which erodes trust in The Market.

3 hours ago, freefourur said:

If I'm understanding this Game Stop thing, it seems that redditors are screwing with hedge funders who were taking a short position. 

 

Yes.  It is turning some of the sharpest-elbowed (and potentially illegal, though perhaps still in the grey-but-legal area short of "pump and dump," not to mention that prosecuting a spontaneously-organized "flash mob" is far harder than prosecuting a single hedge fund) machinations of Wall Street against Wall Street.  

 

3 hours ago, GCrites80s said:

Which means it can happen any time to any company. Which erodes trust in The Market.

 

Not really.  Some of the WSB crowd appear to fall into the crazy-but-not-stupid section.  GME was arguably truly unique in terms of the amount of vultures circling it (some of which essentially were voodoo vultures that conjured extra vultures into existence just to blanket it more completely with circling vultures).  Other stocks, such as the Nokia and Blackberry ones mentioned, may have some of the same dynamic but GME, at least as I now understand it, had even more extreme numbers in terms of short interest, negative float, and institutional ownership.

 

Why does this matter?  Because not only does it mean that it can't happen "at any time to any company" because behemoths like Apple are out of reach, but stodgy, nondescript, comparatively small publicly traded companies are poor soil for the same dynamic.  Pick a random company off the Russell 2000 that doesn't get much attention and I'll bet this swarm tactic can't take root, because there's too much room for other major well-capitalized institutions to respond.  It would be like trying to corner prey in an open field instead of in a hole with no way out.

 

The ruthless genius of this was picking a company that everyone "knew" was dead, and then boobytrapping the corpse to kill all the vultures.  It won't work on a company "everyone knows" is a winner (also a dangerous herd mentality, but for other reasons), and won't work on a company that not many people really care about and that both shorts and longs would view as just plodding along.