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$100K Tax Loss Counterpunch Portfolio - Final Results
All positions were sold this morning.
Portfolio Cost: $100,877
1/3/2022 Value: $107,360
1/4/2022 Value: $105,739
Daily gain/loss: ($1,621)
Total gain/loss: $4,862
I was surprised that the upward momentum in the portfolio didn't continue today. Most of these stocks have just been brutalized in the recent past. At one point this morning, the portfolio was up about 2k from the prior day, and then it folded like a house of cards. That's all I needed to see to close this thing out.
It turned out to be a profitable venture, but still disappointing, as I thought there would be a much greater rebound from these stocks.
$100K Tax Loss Counterpunch Portfolio - The End
All positions were sold this morning. The morning started out well, but then it seemed like a lot of the positions were rolling over, so I unloaded every single one of them. Luckily they were very easy to sell for the most part. Today was definitely a losing day for the portfolio, but the overall results should be positive.
I will post the final return later today.
I agree, jtomm. I think the low hanging fruit will be picked fairly soon. Plus, I don't know much about most of these companies anyway, so long-term investments they are not!
$100K Tax Loss Counterpunch Portfolio - 1/3/2022 Results
Portfolio Cost: $100,877
12/31/2021 Value: $101,497
1/3/2022 Value: $107,360
Daily gain/loss: $5,863
Total gain/loss: $6,483
Positions hitting new 52-week lows today:
APM
I'm seeing the same thing. The pressure from the end-of-the-year tax-loss selling has finally lifted.
$100K Tax Loss Counterpunch Portfolio - 12/31/2021 Results
Portfolio Cost: $100,877
12/31/2021 Value: $101,497
Daily gain/loss: $620
Total gain/loss: $620
And, they're off!
Listed below are 22 of the 49 positions that continued to hit new 52-week lows on the last trading day of the year:
AEZS
APM
ASLN
BKYI
COCP
DPRO
EDTK
ENVB
GLYC
GNUS
GRAY
HUSA
INDO
ISR
KERN
NDRA
OBLG
PRPO
SINT
SYN
TNXP
ZYNE
$100K Tax Loss Counterpunch Portfolio - Sales and Correction
All positions will have GTC+extended hours orders placed for half the position at +50% and the other half at +100%. There will be no re-buying.
The portfolio is subject to being sold in its entirety at any time.
The total portfolio cost was erroneously reported at around $100,300. The more accurate number is around $100,877.
AFI - Nelson, congrats on that piece of news. AFI seems to be the turnaround that never quite happened.
The company is bleeding red ink and has been for quite awhile now. In the first quarter they sold one of their properties in California for over $40M.
Market cap before yesterday's news was $43M. They still own quite a few properties. I have no idea what they're worth, though.
This should be very interesting to see what happens going forward. The company is losing all kinds of money on an operating basis, but probably has some valuable assets. Tangible book value is about $8.72 a share.
I think this one has a decent chance to make some money, but you never know about these things. There should be some coiled springs in this portfolio ready to let loose.
Introducing The $100K Tax Loss Counterpunch Portfolio:
This portfolio was constructed to take advantage of the horrific beating many stocks have taken lately probably due to end-of-the-year tax-loss selling. I screened using these parameters:
1. Price under $3.00 (leverage, more lively, speculative issues)
2. Current ratio over 2:1 (financial strength)
3. Long term debt to equity ratio below .30 (financial strength)
4. Price no more than 3 percent above 52-week low. (as close to the 52-week low as possible)
All positions were bought today including some in the pre-market session. There are a total of 49 positions in the portfolio. I attempted to make each position's starting value close to $2,000. Some positions were purchased at prices a little lower than anticipated and some at prices a little higher. Purchase prices were rounded. Total portfolio cost is about $100,300.
I haven't formulated the sell methodology yet, but I will figure that out this weekend. This is intended to be a very short term experiment. I will update results daily.
Here is the ticker list with price and number of shares:
AEZS - $.37 - 5400
AKTX - $1.38 - 1500
APM - $1.55 - 1300
AQMS - $1.24 - 1600
ARAV - $2.29 - 900
ASLN - $1.11 - 1800
BKYI - $2.19 - 1000
CALA - $.63 - 3200
CLRO - $1.29 - 1600
COCP - $.66 - 3100
CRBP - $.63 - 3300
CRDL - $1.86 - 1100
CRNT - $2.56 - 800
DFFN - $.31 - 6500
DPRO - $1.65 - 1200
ECOR - $.60 - 3300
EDTK - $.96 - 2100
ENVB - $.97 - 2200
FLGC - $1.74 -1200
GENE - $1.91 - 1100
GLYC - $1.46 - 1400
GNUS - $1.09 - 1900
GRAY - $1.70 - 1200
HUSA - $1.41 - 1400
IMV - $1.19 - 1700
INDO - $2.80 - 800
ISR - $.38 - 5300
IZEA - $1.32 - 1600
KERN - $1.81 - 1100
MBRX - $1.67 - 1200
MEDS - $2.36 - 900
NDRA - $.72 - 2800
OBLG - $1.00 - 2000
OCX - $2.04 - 1000
ODT - $1.38 - 1500
OGEN - $.48 - 4700
OWLT - $2.55 - 800
PRPO - $1.62 - 1300
PULM - $.41 - 5000
SINT - $.64 - 3300
SND - $1.75 - 1200
SYN - $.28 - 7200
TNXP - $.37 - 5600
TRX - $.36 - 5600
WINT - $1.42 - 1400
WKSP - $2.46 - 900
WWR - $2.19 - 1000
ZKIN - $1.33 - 1500
ZYNE - $2.90 - 700
CULP - I own a little bit of this one. Collecting the dividend and waiting patiently for things to turn for them. Wouldn't mind buying more if it continues down.
MFIN and Ichabod’s Cranium - Fraudulent activity???
https://www.marketscreener.com/news/latest/SEC-Charges-Financial-Company-and-Its-President-with-Engaging-in-Fraudulent-Schemes-to-Boost-Stock-P--37436361/
I guess there's a reason for that saying that tells you not to believe everything you read!
So far today, there are 243 new 52-week lows on the Nasdaq. Lots of low-priced stuff and warrants on the list.
TCS - Thanks, Researcher. I bought a little. We, Americans, are a bunch of pack rats as you can see from this link:
https://www.statista.com/statistics/984719/self-storage-inventory-usa-vs-rest-of-the-world-2018/
I've noticed some of the self-storage companies hitting new 52-week highs recently. Seems like an inside-the-home storage company like TCS should prosper as well.
CVU - You can't argue with success! (eom)
CVU - Noticed that this morning. It's actually their March quarter, so they are still behind in their reporting. Stock has come down recently, though. Was trading around $3 a month ago. I think they are trying to set a record for restatements.
SLNHP - I think it might be an interesting speculation at this price. The last balance sheet looked great sporting $16M in cash. This last offering will only add to that balance. They also have the LOI for the legacy business which if consummated will only add more cash. If the whole crypto space doesn't implode and they keep making progress with their operations, I could foresee these dividend payments being made for a long, long time.
That said, I think cryptocurrency is the greatest mass delusion ever, so that gives me pause.
That is correct:
https://www.nyse.com/markets/hours-calendars
Congrats on your stick-to-it-iveness on WSTG. Sometimes sitting on your hands is the best strategy instead of scalping a few dollars here and there on a well-researched stock.
When I enter a scary, white knuckle trade, I don't sweat it because I use Old Spice Danger Zone:
SLHNP - I was wondering about that one, also. I'm currently reading a book on preferred stock investing. It's actually pretty interesting. I'm a pretty swinging guy!
I agree. I am thinking of whipping up another experimental portfolio of beaten, bloodied, horsewhipped, shamed, and otherwise traumatized stocks going into the new year.
The weak continue to get punished. The carnage continues this morning. Thus far, about an hour into the trading day, there are 429 new 52-week lows on the Nasdaq.
TESS - The board's answer:
December 14, 2021
Mr. Ari Levy
Lakeview Investment and Trading Company, LLC
Dear Ari,
Thank you for your recent correspondence.
The Tessco Board has met and has carefully considered your letter -- including your purchase offer -- as well as Tessco’s current business plan, balance sheet, and prospects. In our view, and consistent with our response to your prior private approach to us with an almost identical proposal, your proposed purchase price of $7.50/share still does not adequately value Tessco at this time.
To reiterate publicly available information, much of what we recently reminded you of privately:
· From a financial statement analysis, we observe that Tessco’s shareholders’ equity (or “book value”) as of September 26, 2021 was $75 million, or approximately $8.37 per share based on 9 million shares outstanding as of the same date. Thus, Tessco’s book value of $8.37/share – on its own - exceeds your proposed purchase price. In addition, the carrying value on Tessco’s balance sheet of some of its assets, particularly real estate assets, may be understated in relation to their true fair market value. Any unrealized appreciation in the value of Tessco’s real estate, as well as the value associated with prospects for future positive earnings and improved cash flow, would, of course, be additive to Tessco’s book value.
· The Tessco Board is evaluating all options (announced and unannounced) available to it to maximize value to our shareholders. We are always willing to consider any reasonable alternative to achieve this result, including a sale to Lakeview or any other potential purchaser. Should you (or they) make a firm offer at a price that reflects Tessco’s overall value and prospects, the Board will give it due consideration and, if appropriate, would engage with you (or them) with regard to a potential transaction.
The Tessco Board, like most boards of directors of public companies, regularly considers strategic initiatives, including sale, merger, and/or acquisition activities. Like most boards, however, we generally avoid public announcements of this activity: public discussion (especially of inadequate proposals), stands to create substantial and unnecessary concern and confusion in the marketplace amongst our customers, suppliers, and employees. Instead of being able to focus on the execution of our turnaround plan, or the pursuit of more viable strategic initiatives, our employees become distracted, and our management team is forced to spend time addressing the concerns and confusion, and considering and responding to these letters and proposals.
You indicate that our turnaround plan has failed to achieve any tangible results; however, during fiscal 2022, Tessco’s management team has achieved the following:
· A 22% increase in revenues for the second quarter of fiscal 2022 as compared to the same quarter last year;
· A 15% increase in revenue for the first six months of fiscal 2022 as compared to the same period last year;
· Overall sales bookings growth of 38% for the first six months of fiscal 2022 compared to the same period last year; ?and
· An improvement of $4.6 million in adjusted EBITDA for the first six months of fiscal 2022 as compared to the same period in fiscal 2021.
Turning to just some of the other matters discussed in your letter, two of our Board members have served for four months and two Board members have served for eleven months as of the date of this letter. One of our current Board members was chosen from among a number of candidates specifically recommended by Lakeview, and two others were specifically recommended by Tessco’s largest shareholder, and elected with your support to replace directors you helped to remove less than one year ago. The Tessco Board currently has the following expertise represented by its outside Directors:
· A sitting Managing Director of a Fortune 100 company
· A former Chief Financial Officer of a multi-billion dollar wireless provider
· A former Chief Information Officer of the nation’s largest security provider
· A sitting Chief Executive Officer of a private telecommunications firm, and a seasoned corporate Board member, and
· A sitting Chief Revenue Officer of a multi-billion dollar software company.
In addition, the outside directors of the Tessco Board are receiving no cash compensation for their services; all of us have elected to take our compensation in restricted stock. Our management team also elected to receive a portion of their bonus opportunity in performance stock units in fiscal year 2022. We have taken every step to ensure that the Board’s and management’s incentives are directly aligned with shareholder returns.
In short, the Tessco Board strongly believes that our actions have been the antithesis of “reckless and naïve.”
In closing, threatening a highly competent Board with replacement, only months after you fully supported a similar exercise which ultimately resulted in the seating of most of us (four new outside directors out of five), is not enhancing shareholder value. This Board, compensated solely in Tessco shares, was elected to turn Tessco around and to improve shareholder returns. And we are turning Tessco around. Rest assured that the Tessco Board will continue to explore every avenue to maximize shareholder returns – with the knowledge that improved operating performance lies at the foundation of any of these strategies.
Best regards,
The Board of Directors of Tessco Technologies Incorporated
Scary details of the carnage:
JWN -8%
DDS -7%
BGFV -6%
M -7%
DKS -9%
KSS -7%
PLCE -5%
Lots of retailers getting whacked today. It's definitely not just BGFV.
AMC and GME both getting horsewhipped today. The MEME ETF is already down about 11 percent from its high.
MEME ETF Launches
PR Newswire - Dec 08 09:00 EDT
NEW YORK, Dec. 8, 2021 /PRNewswire/ -- Roundhill Investments, an ETF sponsor focused on offering innovative thematic funds, is pleased to announce the launch of the Roundhill MEME ETF ("MEME ETF"). The MEME ETF is designed to offer investors exposure to "meme stocks" by providing investment results that closely track the performance, before fees and expenses, of the Solactive Roundhill Meme Stock Index ("MEME Index").
The MEME ETF is the first ETF globally explicitly designed to track the performance of meme stocks.
The MEME Index consists of 25 equal-weighted U.S.-listed equity securities that exhibit a combination of elevated social media activity and high short interest. Short interest is calculated by the percentage of a security's float which are currently sold short. Social media activity and short interest data are supplied by third-party data providers. The index is rebalanced every two weeks in order to best attempt to capture trending stocks as they emerge.
As of launch, the MEME ETF portfolio includes GameStop, AMC Entertainment, BlackBerry, and Digital World Acquisition Corp. Due to the MEME Index's focus on stocks that are both highly shorted and subject to increased retail sentiment, as well as the fund's high turnover given bi-weekly rebalances, MEME may experience significantly greater volatility than conventional equity ETFs or mutual funds.
For more information on the MEME ETF and a full list of holdings, please visit https://www.roundhillinvestments.com/etf/meme/.
About Roundhill Investments:
Roundhill Investments is a registered investment adviser focused on offering innovative financial products designed to offer exposure to investment themes that appeal to the next generation of investors. To learn more about the company, please visit roundhillinvestments.com.
Investors should consider the investment objectives, risk, charges, and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the MEME ETF please call 1-855-561-5728 or visit the website https://www.roundhillinvestments.com/etf/meme/. Read the prospectus and summary prospectus carefully before investing.
Investing involves risk, including possible loss of principal. Meme stocks are stocks whose trading volume increases not necessarily because of a company's performance, but because of social media attention which may result from a variety of factors unrelated to the company's performance, financial position, or other business fundamentals. As a result, meme stocks are prone to high volatility which may be a result of panic selling. Because meme stocks are heavily dependent on investor sentiment and opinion, they may be overpriced in comparison to the company's fundamentals, resulting in losses to the Fund. The Fund's investment strategy relies heavily on social media analytics, which are relatively new and untested. "Social media" is an umbrella term that encompasses various activities that integrate technology, social interaction and content creation. Investing in companies based on social media analytics involves the potential risk of market manipulation because social media posts may be made with an intent to inflate, or otherwise manipulate, the public perception of a company stock or other investment. Investments made in small and mid-capitalization companies may be more volatile and less liquid due to limited resources or product lines and more sensitive to economic factors.
Fund investments will be concentrated in an industry or group of industries, and the value of Fund shares may be more risky and fall more than diversified funds. Depositary receipts, including ADRs, involve risks similar to those associated with investments in foreign securities, such as changes in political or economic conditions of other countries and changes in the exchange rates of foreign currencies and may not provide a return that corresponds precisely with that of the underlying shares. The Fund may invest in equity securities of SPACs, which raise assets to seek potential acquisition opportunities. Unless and until an acquisition is completed, a SPAC generally invests its assets in U.S. government securities, money market securities, and cash. Because SPACs have no operating history or ongoing business other than seeking acquisitions, the value of their securities is particularly dependent on the ability of the entity's management to identify and complete a profitable acquisition. There is no guarantee that the SPACs in which the Fund invests will complete an acquisition or that any acquisitions that are completed will be profitable. As an ETF, the fund may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Due to the costs of buying or selling Shares, including brokerage commissions imposed by brokers and bid/ask spreads, frequent trading of Shares may significantly reduce investment results and an investment in Shares may not be advisable for investors who anticipate regularly making small investments. The Fund is a recently organized investment company with no operating history. Please see the prospectus for details of these and other risks.
Roundhill Financial Inc. serves as the investment advisor. The Funds are distributed by Foreside Fund Services, LLC which is not affiliated with Roundhill Financial Inc., U.S. Bank, or any of the companies or individuals referenced herein.
Cision View original content:https://www.prnewswire.com/news-releases/meme-etf-launches-301439814.html
SOURCE Roundhill Investments
Too funny! (eom)
Another 650 new 52-week-lows on Nasdaq this morning. Not the time to be in the money-losing story stocks.
AMC and GME are both down around 30 percent from Nov 22. Is sanity finally coming back into fashion?
DEWY - I hate when companies do this crap. Why not just put the results in the press release. So now a person has to navigate to the website and click god knows how many more links to find the information.
The Dewey Electronics Corporation Announces Results of Modified Dutch Auction Tender Offer
Thursday, December 2, 2021 2:20 PM
Share this article now
Topic:
Company Update
Dewey Electronics Corporation
Dewey Electronics Corporation
OAKLAND, NJ / ACCESSWIRE / December 2, 2021 / The Dewey Electronics Corporation (OTC PINK:DEWY) has announced on its website the results of the modified Dutch auction tender offer that expired on Monday, November 30, 2021.
https://www.deweyelectronics.com/investor-relations.html
CONTACT:
The Dewey Electronics Corporation
Stacey Mischel 201-337-4700 x114
Forward-Looking Statements
This press release may contain statements that constitute forward-looking statements. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors.
SOURCE: Dewey Electronics Corporation
HHS - Odd action in the pre-market this morning. Someone was unloading. I picked up some shares as low as $7. I think it may have even traded down into the 6s. I wonder if someone noticed a new symbol in their account, didn't realize what it was, and just sold it off.
TOMZ - I was trading this one the past few days because of the new covid variant. It traded down to $1.07 today, a new 52-week low, and then all of a sudden took off like a rocket. It's now halted at $1.52. I sold what I had. Very strange action.
JWN - I've been trading it this morning.....not all that well, though.
SCX - Available here:
https://www.starrett.com/about/investor-relations/quarterly-reports
SCX - I bought more today, also. I'm surprised it traded all the way down to $9.65.
Today there were 531 new 52-week lows on the Nasdaq.
As far as SKAS goes, if you subtract the ERTC and the PPP loan forgiveness, that accounts for a big chunk of their earnings so far this year.
Nice job, 2morrowsGains! (eom)
Today on the Nasdaq there were 214 new 52-week highs and 558 new 52-week lows. Notable new lows:
ASTC
FKWL
IMMR
KNDI
KTCC
MIND
HOOD
SEAC
SPCB
TOMZ
It's getting kinda rough out there.
FRD - Another couple interesting items from the 10-Q:
The estimated amount of losses recognized in AOCI at September 30, 2021 expected to be reclassified into net earnings (loss) within the succeeding twelve months is $26,353,840. This amount consists of $23,467,120 in realized losses associated with closed hedges and $2,886,720 associated with open hedges that was computed using the fair value of the cash flow hedges as of September 30, 2021 and is subject to change before actual reclassification from AOCI to net earnings (loss).
The tubular segment purchases its inventory from a limited number of suppliers. Loss of any of these suppliers could have a material adverse effect on the Company’s business. As disclosed previously, the Company is no longer supplied with mill reject pipe from U.S. Steel's Lone Star Tubular Operations due to the idling of that facility. At September 30, 2021, we had approximately 8,900 tons of mill reject inventory which we believe to be slightly less than one year of inventory. We expect the idling to have a negative impact on our operations as we eventually sell out of mill reject pipe inventory.