I made a killing today trading FNMA, and any day trader that didn't should probably find a new line of work/hobby. In 5 years of trading, I have never seen an easier ticker to make money on. The volatility and predictability were perfect for trading over the last 3 days. That being said, the easy money appears gone for now as it is unclear where the PPS will go from here. Tickers like this attract a ton or rookies which is great, but after they get burned, the stocks extreme volatility tends to be lost (which of course is a key ingredient to easy money). As I said before, this ticker reminds me of VRNG (the dream of suing Google for unlimited riches), and these types of stocks don’t come along everyday (ie, stocks with very limited value but great stories that make thousands of retailer’s dreams of riches - and yes, FNMA has very limited value as the commons are worthless until conservatorship is resolved and may always be worthless). I sympathize somewhat for all the retailers that get burned on these plays, but they should have listened to their parents growing up – anything that is hyped is BS.
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