Shorted 100 at 310
Shorted 100 at 320
Shorted 100 at 330
Shorted 100 at 340
Alas!! I'm short 400 CMG and all I have is 70k in my account. Getting margin calls!!!
I should tank TODAY if I have to sleep well tonite.
Honest replies folks. Am I screwed? or do I have chance to get my money back.
I honestly believe that $8 for bowl of a rice, a cup of beans and a spoon of chicken is not a good buy (agree, that one spoon chicken tastes good).
This is no Starbucks. The margins are nothing like SBUX. Even though coffee beans have gotten way more expensive, they are trivial compared to food costs. The gross margin per square foot and per employee are night and day different.
Starbucks created a category that didn't exist and has one of the most powerful brands in the world. This is a MOMO stock. No one has any emotional or physical (addiction) attachment to CMG. Sorry.
Bring it on.
Wabbit, these poor dumb kids have never seen anything like CMG. For a comparable look at SBUX which after their IPO had a PE of 100+ and was always a short favorite. Many a short destroyed their account equity before anyone scored big shorting SBUX. Stay long for another decade, you'll do well.
Maybe, but I don't think it will drop that far. Short term (6 months to a year) I wouldn't rule out your $280 number but I think there's enough growth on the horizon to hold it up at that point. I just don't think the fund managers know where else to put the money if they bail out. None of the IPOs on the horizon look all that promising.
No. The institutional longs who are kicking the can down the road rather than curing the problem are screwed. Who cares that the stock has gone up on essentially zero volume. Even today, a bunch of money has come out. Big volume on down moves, up $1-$2 on a couple hundred and then another dump.
All you overconfident shmucks make me laugh. Life has been easy for longs in MOMO stocks because the game has been rigged against the shorts, particularly retail shorts. But, the institutions here cannot collude on macroeconommics. It is beyond their control. And, it is going to bring this house of cards down.
Every new short sees the "buying power" line and thinks its free $$$ .
I used to over leverage EVERY day in my 30's .
The only calls I ever received back then were from the margin dept .
I also thru away a bundle back then BUYING calls and puts .
The markets here in the USA are just too corrupt to let the buyers win often .
Logic is useless in this game .
Shorting on margin is insane. cover everything and buy DITM LT puts. You'll make it up in spades... Buy 10 contracts of the 370 June Puts. There is 0 chance this stock is north of 300 by then. You will effectively hold more shares and will not only make up your losses but see huge gains IMHO.