OSTK has fallen off a cliff since the delayed GSR investment. On Monday, Overstock announced that GSR Capital had sought out an extension on an investment they were slated to close over the weekend that would have printed a billion dollar valuation on tZERO and likely would have sent Overstock’s equity price significantly higher. Once …
Category Archives: Overreaction
Fade the Tweet
Another trade war negotiations working utterly fantastic well hugely big Tweet from the president provides a ramp for the stock market to open up. Very productive conversations going on with China! Watch for some important announcements! — Donald J. Trump (@realDonaldTrump) December 11, 2018 I used that & the Libya oil issue to exit the …
Another Mid-day Slide & Recovery
On the 6th I sold off a bit of Funko for a few hundred dollar gain. I picked up a bit of AT&T on the 6th which I sold on the 7th for a few hundred dollar gain. On the 15th of November I put a bit into various muni bonds like MYD, IIM, NAD …
Exited Zillow Early
On Monday I sold out of the remaining portion of the Zillow position I had after it popped about 10% on news of insider buying. I thought it might slide into close as shorts re-established positions at a higher base, but not so much. That thing has kept going up & closed up 12% on …
Zillow Premier Agent Business Model Shift
Apparently, we are once again deep into FOMO: “We’ve had clients across the board call in and ask where to put their money,” said Tom Stringfellow, president and chief investment officer of San Antonio-based Frost Investment Advisors. “Investors aren’t making any mass movement trying to get out of the markets, but they’re really looking for …
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Yandex (YNDX) Beaten & Left for Dead
Yandex followed yesterday’s doom cycle with a dead cat bounce open at $30.48 followed by a rapid decline to $26.42 a share. They’re now worth around $8.7 billion. The price then touched $28 a share & has since resumed declining, now at $26.63 a share. I sold the biggest chunk I was holding at open …
Search, Search, Search
Not a novel or undiscovered market at this point, but search stocks are cheap relative to where they have been recently. And web usage only grows each day as people literally embed themselves in their cell phones. While the value of social media ads is starting to be questioned more broadly (see the recent Facebook …
Carl Icahn Shorts the US-China Trade War
Tech Stocks on Fire Today tech stocks are once again on fire with Google & Facebook up a couple percent and other online players like Etsy, Twitter, Zillow are up big as well. Even some of the international beaten down tech stocks like MakeMyTrip, Yandex & JD are doing well today. A couple things stand …
Funko Short Squeeze & Slide (FNKO)
The stock market looked quite ugly at close yesterday. The Funko position I had was in the hurt locker, off about 10%. Then today a massive short squeeze caused a price ramp of about 15%, so I sold close to the top on that in a couple different lots. Small-caps have since started heading down …
Long Funko (FNKO)
Funko‘s stock closed Friday trading at $19,47, down from a recent high of $31.12 but up large from a 52-week low of $5.81. Their November 2, 2017 IPO was widely panned and even qualified for being in the all time disasters category in terms of IPO performance. Renaissance Capital, which tracks IPOs, reported late Thursday that Funko’s …