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Volume was disappointing Friday in a green market. However, the EV sector was mixed with TSLA selling off a top and new IPO RIVN possiblity sucking momo $ from other EV names. At least ELMS closed green over $9 and trended up AHs.
This morning's instant gap to 9.49 was filled which wasn't surprising. Hoping to see it creep up from here and close over 9.15. We'll see.
Fantastic volume today which feels very bullish. Feels like more believers are joining the party. Shorts must be sweating ??. Hope tomorrow pushes us to new recent high.
To much to ask to close over $9 today?
Bought more on the dip this morning. I read transcript and thought the story continues to improve despite transitional supply chain and margin issues. RIVN is probably viewed as the leader in the space because of their big contract with AMZN. But ELMS has first mover advantage and plenty of room in the space for both IMO.
Yeah, I looked and noticed still just over 2 million shares short--not much change over the past 6 weeks so probably hasn't affected share price much recently.
Guess the conference call didn't overly impress based on AH action. Anybody heard it yet?
DMTK After posting flat sequential revenue growth and tanking 20% after hours yesterday and opening weak this morning, it has climbed back to almost even in a down market. Not what I expected but happy to see the support. Maybe they sounded encouraging on the cc to which I have yet to listen.
DMTK tanking hard after earnings filing which I haven't yet seen. Guess I should have waited on the options.
Bought the Jan '24 most out of the money options for each of DMTK and ELMS. Either through execution or acquisition I think they'll become much more valuable over time and 2+ years gives them a chance to get their acts together.
ELMS R59 Good to hear you have a position. The next few days should be interesting. Today it closed at HOD which is bullish. We'll see.
ELMS on the move again today after positive PR this morning and "earnings" (ha ha) AH Wednesday. Given the lofty valuations of other early stage EVs (e.g. LCID $75B, RIVN $50B), ELMS seems poised for a big run.
The next NASDAQ short count report as of Oct 31 is tomorrow AH. Then ELMS "earnings" release Wednesday AH. I hope the short count has risen dramatically. As the saying goes, I hope shorts start feeling like a Christian Scientist with appendicitis.
CPSS You were smart to hold. I bailed too soon and can't stomach re-entering at a higher price.
LCID and Rivian with $50B+ market caps. Can't for the life of me understand what the shorts are thinking.
Maybe the day to day prospects for the BBB legislation accounts in part for weakness on up market days although most other EV stocks seem to be outperforming elms recently
I'm a Cubs fan so have never heard of these other teams you're discussing. I'm excited about next year, our first in another 100 year rebuilding plan.
CPSS spiked after hours yesterday. I didn't see news or filing. Congrats to those invested. I got out too soon.
Thanks Value. What's your take on what the shorts are thinking?
Bought more at 7.97 on the dip just now. They're one positive PR away from blowing the shorts out of the water.
Should have followed this board earlier as am knee deep in ELMS as I keep averaging down and now at a cost of 8.56. Was briefly green for the first time a few days ago. The short interest has climbed in 30 days from 500,000 to over 2 million shares which I think accounts for many of the recent daily price collapses. I would be very nervous shorting ELMS at $8 with these Reddit raiders poised to strike at any moment. I guess they figure ELMS either won't execute production because of supply chain issues or won't get orders. They could certainly stumble near term but have plenty of liquidity to get things on track. Looking at the multi billion valuations of other EV players, this seems like a great candidate for a 5-10x gain from here over the next 2-3 years.
ELMS Speaking of short positions, they have piled on here and kill every rally. If the company could announce a second fair sized order, I think the shorts would get obliterated. Company is PRing all aspects of building a successful company except only a single order for 1000 vehicles so far.
BELFB Doubled my position to bring my cost down to 12.56. Seem to be doing a lot of that lately.
SNFCA Sold yesterday because of concerns rising interest rates will hurt their mortgage refi volume.
CPSS--Sold yesterday in the 6.90's. Should have sold the day before in the 7s. While still cheap, I have concerns that rising interest rates and lower used car sales will be headwinds.
ELMS short interest had climbed recently so maybe a little short position unwind/squeeze an additional tailwind today. My break even is $8.80 so hoping rally isn't over.
ELMS up big on high volume. An EV halo effect because of Tesla's run?
CPSS soaring in premarket. Don't see any news. Maybe just a stray trade?
Thanks for your inflation thoughts Gilead and Nelson.
Besides commodity stocks, what are other sectors that would benefit from inflation?
CPPMF--It's the largest position in my wife's IRA and I'm planning to hold long term. About a year ago the CEO set an objective of tripling production in 5 years. Seems like a value priced stock with huge growth potential. Of course there's commodity price risk which accounts for much of the volatility, and copper will get hammered if there's a global recession, but I feel comfortable exposed to copper as industrial demand is well established and growing.
Lucky for me, last week I sold my house, cars and stocks and shrewdly invested everything in AGUNF.
ELMS still getting creamed to new lows despite being on track executing their business plan. Maybe a lot of free shares getting dumped associated with the SPAC structure?
CPPMF really cheap today IMO. A good one to buy and hold long term.
FONR reports decent earnings on a down market day. Really boring company IMO and hard to see significant growth potential.
LMB surging on PR with no numbers about new HVAC opportunities in indoor marijuana business. Seems a little desperate.
Volume in many of my stocks including FONR is very anemic today.
CPPMF posting positive new drilling results. Looks like they're building a multi bagger miner to me
BELFB Started a position this morning at $13.49. Timing off as usual.
ELMS management seems very capable about both running the company and keeping investors professionally updated. Nonetheless, in a down market these speculative stocks get creamed.