W, Ponzi Scheme Update

6 thg 4, 2020

W has a high short interest, so not surprisingly it's got a short squeeze going on....

Target is slightly above $80, might be worth shorting there. They aren;t gonna ever make money, this rally is hilarious but tat's what happens when you play a crowded game. Not touching it for now.

At $80, daily indicators will probably all be overbought.

6 thg 4, 2020

Ghi chú

Apparently business doubled during this shutdown, guess people have nothing better to do besides shop online and Wayfair prices are cheap (yes, I have ordered stuff from them). The thing is... the more they sell, they more money they lose with their negative margin.

Also 37% float is shorted, that is why I'm waiting.

24 thg 4, 2020

Ghi chú

Per my reply to PlutoNix below, 115% of float is owned by institutions, which is why there's a massive short squeeze going on. It's not the only short squeeze stock, I traded calls on BYND and ROKU instead the last couple of weeks.

Still a crap money losing company that I wouldn't touch. Options premiums are expensive and the spread is big.

24 thg 4, 2020

Ghi chú

What's actually amazing is taht the shorts didn't cover when it was below $30.... talk about greedy idiots, can't believe there's still 37% of float being shorted.

5 thg 5, 2020

Ghi chú

DUmbest thing ever....

Anyone who bought May calls when this thing hit bottom is richer than crap, lol.