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Lots of interesting companies hitting the 52-week lows list today including:
EDUC
FDX
NDAQ
AMZN
SBUX
DIS
COIN
BA
JPM
UPS
GS
ADBE
BIG
SILC
BAC
GM
Z
WBA
HOV
VZ
USB
C
CVNA
DHI
GE
NAII
HBB
SPWH
RIOT
JBLU
RDFN
HBI (not even underwear is safe)
PTON
And the list goes on.........
You know things are bad when you see the stock symbol FATE crossing the 52-week low ticker.
FB $207.88 (AH), now that's what I call market timing!
FTCO - I saw that commercial promoting the stock on CNBC this morning and decided to sell. That was a little odd to say the least. It made me think of the Bre-X fiasco. Maybe everything is legit, but why is there a commercial promoting the stock on CNBC?
FB - I sold my position today. I decided not to hold into their earnings report tomorrow. The market just seems to be in a foul mood, and I don't see any reason to be taking on any added risk.
Sounds like that youngster needs some anger management counseling! Reminds me of the former Redskins receiver, Michael Westbrook. Lots of skills, but unfortunately a bit of a head case.
Nasdaq had turned positive but now back in the red.
Funny, Nelson. Looks like the selloff is gaining momentum. If it was a college basketball game, and I was the coach, I would be calling a timeout!
Stocks, gold, oil, crypto, and interest rates all down. This should be an interesting day.
ZDGE - I thought the acquisition sounded pretty good from the PR. Subsequently, KIK dug up the ugly financial truth in the investor presentation they issued in an 8-K.
ZDGE - Definitely not as enthused after reading the presentation. In addition to your points, they are targeting Gurushots to be EBITDA positive in around two years! The press release painted a much rosier picture, in my opinion. I sold what I bought earlier this morning.
Maybe this will work out well with the synergies they are expecting, but it's going to be down the road, and I want to eat my cake today.
ZDGE - Acquisition sounds good to me. I tucked a few away in my IRA this morning.
https://finance.yahoo.com/news/zedge-announces-transformational-acquisition-gurushots-104500863.html
AMC - I heard the CEO on CNBC talking about the gold mining deal and the new type of relationship AMC has with its shareholders. It sounded like such a bunch of b.s. to me, but that's only my opinion....
SBH - If we do go into a recession, I could definitely see women choosing to buy their products here and do their hair or nails themselves.
I recently paid around $450 with tip to get my daughter's hair colored at a salon. My hair has never been around that kind of money! Nails aren't exactly cheap either.
AMC - Well, the synergy is obvious to me! As a side note there were three more very recent and ugly insider sales:
https://www.sec.gov/Archives/edgar/data/1411579/000141157922000046/xslF345X03/primary_doc.xml
https://www.sec.gov/Archives/edgar/data/1411579/000141157922000045/xslF345X03/primary_doc.xml
https://www.sec.gov/Archives/edgar/data/1411579/000141157922000044/xslF345X03/primary_doc.xml
FB - I started a small position at $225 and have been adding every 10 points lower. I've traded it a little.
I'm personally not a user, but it seems like everyone else uses it. It seems to be very entrenched in people's lives. Businesses all seem to have Facebook pages. I think the stock will have a nice price recovery. Not betting the farm on it, but I like the risk/reward.
Researcher, I got it from flyonthewall. (eom)
HDSN - A little more color:
Roth Capital upgrades Hudson Technologies to Buy, raises target to $6.50
As previously reported, Roth Capital analyst Gerry Sweeney upgraded Hudson Technologies to Buy from Neutral with a price target of $6.50, up from $4. The analyst notes Hudson Technologies reported earnings that exceeded expectations driven by higher refrigerant pricing. Pricing for HFC was up sequentially driven partially by supply chain tightness. However, more importantly, regulatory frameworks and market dynamics have likely created a foundation for increased reclamation of HFC refrigerant and higher overall prices, Sweeney argues. In addition, the company recently entered into new/enhanced credit agreements reducing interest costs, he adds.
GDLLF, thanks for the additional info, Gilead. I never heard of Burkina Faso, and I was an avid stamp collector as a kid. I had an uncle who worked for the census bureau, and he received letters from all over the world and he would save the stamps for me. I knew it as The Republic of Upper Volta, its previous name.
GDLLF - Geodrill price target raised to C$4.25 from C$3.75 at TD Securities
TheFlyontheWall.com - Mar 08 11:29 EDT
TD Securities analyst Daryl Young raised the firm's price target on Geodrill to C$4.25 from C$3.75 and keeps a Buy rating on the shares.
That's just the way of the market. Win some and lose some. It definitely highlights the potential for explosive moves from low float stocks, though.
INDO - That's too funny, Wade! That 800 share position was bought on 12/31/2021 at $2.80 and sold on 1/4/2022 at $2.82.
This morning INDO with its 1.41M share float is trading at $75 in the premarket!
UUU - I was thinking about shorting it this morning after it popped on that news. The low float stopped me, though. Many heads have been ripped off shorting low floaters.
Thanks, Michael and Researcher. A rep at IB told me that the version of TWS I was using no longer works with some older versions of windows. I had to download a different version of TWS.
Etrade seems to have rectified itself. It was bogging down and position numbers weren't accurate earlier today.
Etrade and IB are both totally screwed up now.
Note to brokers: Occasionally there are going to be days with massive volume. Make your systems more robust.
SOGU - I actually bought some for the first time last Friday....not exactly optimal timing, but I'm looking at it both as an anti-spac play and a hedge.
The sheer amount of money raised by these spacs leads me to believe there was a lot of junk floated.
MEME - That would have been a great short. Unfortunately I didn't participate. It closed at $16.40 on Dec 8. It is now trading in the high 9s.
Another ugly day for stocks as there are 431 new 52-week lows on the NYSE and 1,135 new 52-week lows on the Nasdaq. I will be looking for some gems among the wreckage.
And the flush continues today with another 679 fresh new 52-week lows on the Nasdaq. Someone is probably making mucho dinero shorting these money-losing companies. It's really hard to time the beginnings and ends of these trends, though.
AMC $18 - $2.57, has been getting crushed lately, and the insiders have been just unloading:
https://www.sec.gov/Archives/edgar/data/0001411579/000141157922000019/xslF345X03/primary_doc.xml
https://www.sec.gov/Archives/edgar/data/0001411579/000141157922000018/xslF345X03/primary_doc.xml
https://www.sec.gov/Archives/edgar/data/0001411579/000141157922000017/xslF345X03/primary_doc.xml
https://www.sec.gov/Archives/edgar/data/0001411579/000141157922000016/xslF345X03/primary_doc.xml
https://www.sec.gov/Archives/edgar/data/0001411579/000141157922000015/xslF345X03/primary_doc.xml
https://www.sec.gov/Archives/edgar/data/0001411579/000141157922000014/xslF345X03/primary_doc.xml
https://www.sec.gov/Archives/edgar/data/0001411579/000141157922000013/xslF345X03/primary_doc.xml
It's definitely nasty out there for the companies not making any money. There are another 663 new 52-week lows on Nasdaq so far today.
Yielddude, that's a good question. I really don't know why I'm paying $4.95 as opposed to $6.95. I think this particular account I was looking at came over from Scottrade in the merger.
I would call them and ask for the lower rate.
I'm seeing $4.95 commissions on otc stocks on A-trade from at least 2019 to present, so I think they never went free commissions on the otc stocks.
A-Trade is charging $4.95 for the otc stuff (eom)
Another 455 new 52-week lows on Nasdaq so far this morning. The pharma, biotech, and general all-around money losers continue to get hammered.
She will probably want to add some GME now that they are purportedly entering the crypto and NFT markets! The stock is up $31 in the pre-market.
Speaking of unprofitable Nasdaq high flyers, there were 617 new 52-week lows on Nasdaq today and another 184 on the NYSE.
SOGU - another interesting ETF I just noticed on the new 52-week highs list that goes by the name The Short De-SPAC ETF.
https://www.nasdaq.com/articles/short-spacs-with-this-etf-2021-05-21
Pretty lucky on the timing there. I still have the portfolio setup on finviz where I scanned for the positions. It would have gone down an additional $5.1k from yesterday's close.
Congrats on your gains, researcher. A nice way to start the trading year. It's definitely much easier to hold on with conviction when you have well-researched positions. No diamond hands with my tax-loss portfolio!
Thanks, cliff and jtomm. I shouldn't complain. I was just expecting better. It seemed like a pretty good setup going into the new year. I envisioned holding on for more than two days! I thought some momentum might develop and possibly being able to hold on for the better part of the month.
That's the beauty of working for yourself: You can try all kinds of crazy stuff, and you can't get fired. You may lose your house and have your car repossessed, but you can't get fired!