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Markets still falling like whoa

Llano Estacado

By Llano Estacado
in Business and Markets

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Eastwood
Eastwood

That's why I'm out. There is no end game, IMO. This has to be fixed outside of the market and I got too nervous about what that entails for retail investors. They will always be last on the list, if o

Rusty Shackelford
Rusty Shackelford
Eastwood
Eastwood

I'm not a financial advisor. This is not financial advise. I don't work in finance. I do not have a degree in finance. Actually, I have a BA and I'm bad at math past Cal I. I won't apologize for the l

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babysdaddy

babysdaddy 2719

Posted
Posted
3 hours ago, Captainant said:

If GDP is plummeting but stock values go up, and unemployment remains at record highs, isn't that what stagflation looks like?

if inflation rips, then yes.  But thus far we haven't seen 'inflation' in the way policy makers have it defined (although clearly asset inflation has taken place).  Right now, all anyone is scared of is deflation, or dis-inflation if you're a central banker.

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atomheartbevo

atomheartbevo 89603

Posted
Posted
8 hours ago, 52-80 said:

side rant:  i dont know why these fuckers wont use a wordpress or single-page blog instead of this microblogging bullshit

As somebody who spends 3-4 hours buried in the back-end of WordPress (think NowThis, but instead of a giant black butt plug, it's a blue and white icon with "WP" on it), they absolutely should  be using it something like twitter.

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52-80

52-80 19136

Posted
Posted

I feel like I'm the only person who talks about overstock, and I've mentioned it here about 10 times, and it shot up 30% today after a positive earnings.

 

Apparently they're bringing in so much more revenue and traffic through their pivot to crypto currency.

 

What?

 

I mean, it doesn't sound like a BLATANT, OUTRIGHT scam the likes of Nikola and other Chinese stocks.  And it's low volume, but with consistency and smoothline growth so it's not exactly a pump and dump operation.

 

So what's going on here? I don't get it

 

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Trey3216

Trey3216 15337

Posted
Posted
1 hour ago, 52-80 said:

I feel like I'm the only person who talks about overstock, and I've mentioned it here about 10 times, and it shot up 30% today after a positive earnings.

 

Apparently they're bringing in so much more revenue and traffic through their pivot to crypto currency.

 

What?

 

I mean, it doesn't sound like a BLATANT, OUTRIGHT scam the likes of Nikola and other Chinese stocks.  And it's low volume, but with consistency and smoothline growth so it's not exactly a pump and dump operation.

 

So what's going on here? I don't get it

 

You talking about O dot Co? 

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Fudge Nuggets

Fudge Nuggets 19170

Posted
Posted
23 hours ago, 52-80 said:

I feel like I'm the only person who talks about overstock, and I've mentioned it here about 10 times, and it shot up 30% today after a positive earnings.

 

Apparently they're bringing in so much more revenue and traffic through their pivot to crypto currency.

 

What?

 

I mean, it doesn't sound like a BLATANT, OUTRIGHT scam the likes of Nikola and other Chinese stocks.  And it's low volume, but with consistency and smoothline growth so it's not exactly a pump and dump operation.

 

So what's going on here? I don't get it

 

Overstock has been a total scam for over a decade.  Is that maniac CEO still in charge?

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Fudge Nuggets

Fudge Nuggets 19170

Posted
Posted (edited)

Well I guess you can call the SEC stock fraud vultures but they have a bit more bite than the typical ambulance chaser.  

And it looks like the psycho CEO left late last year after the SEC got all up in his shit.  Stuff like that had been going on for years.

https://www.sltrib.com/news/2019/11/16/stock-utah-based/

Edited by Fudge Nuggets
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52-80

52-80 19136

Posted
Posted

i seriously do not believe a scam like this is still functioning in this day and age.  i cant believe the major outlets arent shredding this thing to pieces.... (like they didnt, until they did, for wework...)

 

https://seekingalpha.com/article/4364621-nikolas-nkla-ceo-mark-russell-on-q2-2020-results-earnings-call-transcript?part=single

 

by the way, Overstock up another 15% or so yesterday

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Wally Fairway

Wally Fairway 5533

Posted
Posted
4 minutes ago, 52-80 said:

i seriously do not believe a scam like this is still functioning in this day and age.  i cant believe the major outlets arent shredding this thing to pieces.... (like they didnt, until they did, for wework...)

https://seekingalpha.com/article/4364621-nikolas-nkla-ceo-mark-russell-on-q2-2020-results-earnings-call-transcript?part=single

by the way, Overstock up another 15% or so yesterday

Maybe we (Surly stonkers) should pool some money and start an electric vehicle company. People want to invest in shit like that, people want to get in early, PEOPLE want to believe.
I think we should name it ZZZZZZ Best Electric Vehicles, and of course the vehicle logo will incorporate a DickButt.

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Wally Fairway

Wally Fairway 5533

Posted
Posted (edited)
59 minutes ago, 52-80 said:

i seriously do not believe a scam like this is still functioning in this day and age.  i cant believe the major outlets arent shredding this thing to pieces.... (like they didnt, until they did, for wework...)

 

https://seekingalpha.com/article/4364621-nikolas-nkla-ceo-mark-russell-on-q2-2020-results-earnings-call-transcript?part=single

 

by the way, Overstock up another 15% or so yesterday

Here is a shorter article on NKLA - all revenue is from solar installation for the Chairman

https://www.cnbc.com/2020/08/05/nikolas-entire-quarterly-revenue-of-36000-was-from-solar-installation-for-the-executive-chairman.html

Quote

“There are catalysts immediately ahead, and we therefore recommend accumulating shares in NKLA,” JPMorgan said in a note to clients Wednesday.

 

Edited by Wally Fairway
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52-80

52-80 19136

Posted
Posted
1 hour ago, Wally Fairway said:

Here is a shorter article on NKLA - all revenue is from solar installation for the Chairman

https://www.cnbc.com/2020/08/05/nikolas-entire-quarterly-revenue-of-36000-was-from-solar-installation-for-the-executive-chairman.html

 

fuck that JPMorgan.  the analyst from the same company asked this about the prepared statements from the call

Quote

Welcome to the public markets, it's been fun so far. So Mark, I just wonder is this what we get? It's kind of a joke really,

zero preorders.  zero product reveals.  zero product commitments.  not even a single testing data from a prototype product shared except one time we had a truck pull a cargo for anheuserbusch

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Wally Fairway

Wally Fairway 5533

Posted
Posted
3 minutes ago, 52-80 said:

fuck that JPMorgan.  the analyst from the same company asked this about the prepared statements from the call

zero preorders.  zero product reveals.  zero product commitments.  not even a single testing data from a prototype product shared except one time we had a truck pull a cargo for anheuserbusch

And yet the worse it gets, the more I start to be interested. Just imagine if they were actually able to deliver a sale of 1 EV semi truck, or a pick up - that stock would double because of the hype.
As much as I grew up on fundamentals, growth, earning, dividends, stock splits, etc; my stonk plays are 100% momentum and hype driven and yet today NKLA it too pricey to stonk.
Then again I bought DIS puts because I thought they would be hard hit COVID, little did I know that $5 billion in losses in the quarter would not be enough to make those puts worth anything - so what the fuck do I know???

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Blotto

Blotto 23477

Posted
Posted
7 minutes ago, 52-80 said:

fuck that JPMorgan.  the analyst from the same company asked this about the prepared statements from the call

zero preorders.  zero product reveals.  zero product commitments.  not even a single testing data from a prototype product shared except one time we had a truck pull a cargo for anheuserbusch

Thats the amusing thing. Its not like they are cooking the books showing false revenues or grossly exaggerating their progress. Their earnings call was basically we didnt make anything, we didnt sell anything, we don't know really who our partners will be, and we promise to make something at some point a few years down the road. And yet people keep piling money into the stock, because TSLA. 

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Cheeseweasel

Cheeseweasel 26438

Posted
Posted
9 minutes ago, 52-80 said:

fuck that JPMorgan.  the analyst from the same company asked this about the prepared statements from the call

zero preorders.  zero product reveals.  zero product commitments.  not even a single testing data from a prototype product shared except one time we had a truck pull a cargo for anheuserbusch

Not a Jim Cramer fanboy, but was watching CNBC yesterday and he TRASHED Nikola. His comment was perfection (paraphrasing): 'the markets care about earnings per share, not IDEAS per share'.

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Captainant

Captainant 27588

Posted
Posted
1 minute ago, Tailgate said:

Looked at some banking, airline and cruise stocks this am...I might grab a small play in LUV and RCL again.

AMD still has quite a bit of growth ahead of it, and nvidia is about to launch a new product line. Chip stonks are spicy rn if you aren't intel

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Tailgate

Tailgate 3020

Posted
Posted (edited)
4 minutes ago, Captainant said:

AMD still has quite a bit of growth ahead of it, and nvidia is about to launch a new product line. Chip stonks are spicy rn if you aren't intel

I’m just in NVDA. Jumped in a while ago (year plus) as I’m a gamer and know their products well. One of those “should have bought more.” Currently up over 400%.

I have been eye balling AMD...got burned on them years ago...but they seem to be doing well again.

Edited by Tailgate
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52-80

52-80 19136

Posted
Posted
Just now, Tailgate said:

I’m just in NVDA. Jumped in a while ago (year plus) as I’m a gamer and know their products well. One of those “should have bought more.” Currently up over 400%.

take the gainz and plow it all into overstock

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Captainant

Captainant 27588

Posted
Posted
1 minute ago, Tailgate said:

I have been eye balling AMD...got burned on the years ago...but they seem to be doing well again.

They are poised to take intel's market advantage and become the top player in the CPU market for consumer and enterprise. Their value has already shot up, but it's not done yet

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Captainant

Captainant 27588

Posted
Posted (edited)
25 minutes ago, 52-80 said:

Intel has 20gb data breach.

https://www.anandtech.com/show/15962/intel-data-breach-20gb-of-ip-leaked

more good news in the INTC v AMD war

Idk if it's good news, the hacker/leaker encouraged people to look for backdoors in the source code and even provided an example snippet. And there's more coming

https://www.tomshardware.com/news/massive-20gb-intel-data-breach-floods-the-internet-mentions-backdoors

Get ready for some emergency patches, boys. 

Edit: lulz from the article I linked:

Interestingly, Kottman also notes "If you find password protected zips in the release the password is probably either "Intel123" or "intel123". This was not set by me or my source, this is how it was acquired from Intel."

Edited by Captainant
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Blotto

Blotto 23477

Posted
Posted
8 minutes ago, 52-80 said:

up 10% to $100 today.  at some point you get tempted to just cave in and ride the train

This was a $3 stock in March. I applaud anybody that jumped in on OSTK at that time. After the 30X runup, my risk/reward analysis precludes me from investing at this time. 

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