Friday, July 24, 2020 10:02:46 AM
It's the post announcement pre-merger of a boring company, so it will wallow until the merger.
That being said, I'm in a related boring frozen food company...BGS. As of today, it sits at $26.60. From the March 12 bottom of $11.63...you can do the math. And it has a 7.23% div.
My Jan 2022 $17.50 call options I bought on March 19 (yes, I timed that very well) are up 214%. So, I can wait and be long and strong on FMCI.
Did I think that a lockdown would be good for a boring frozen food company? Yup, that's why I bought BGS
Do I think that TC is as boring? No. But it's still boring compared to some other SPACs.
Am I up on my FMCIW? Yes...51%. Full disclosure: I bought the majority on May 14. Added 25% more on July 6. On that buy, I am down 33%.
Am I losing money today? Oh hell yes...on paper, just today, I am down $2,433.9996 so far. But that's a paper loss. You can figure out my holdings pretty much from that, if you want to.
SPACs need conviction from merger announcement through merger if you are long. If you're swing trading, you should have been out a long time ago.
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