I told you guys a month ago NEVER to short a high priced, high beta, high interest level stock.
Use puts (options), or skip the exercise entirely. Learned my lesson the hard way 30 years ago, and just want
to help. No...Rationale thinking and reason does not always prevail....even over time. I shorted Berkshire Hathaway 30 years ago because I played a round of golf with Buffet. He was selling Blue Chip stamps at
the time, and had just bought a piece of junk insurance company that was selling at a $2 called GEICO.
I covered my short after a 50 point loss, and never shorted anything again....NEVER!!!
Well, in my defense, you made your little mention POST my shorting it! No matter, had I bought instead, when I shorted, the friggin stock would be at $150 right now. Has nothing to do with beta or any of that. It's simply my black cloud. Regardless, at some point, reality will set in for that stock and it WILL come crashing down. It's all a big smoke screen fraud right now....not their operation, but their revenues and profit levels. Something inappropriate is going on, that's all I'm going to say.
I doubled down, But put in a stop loss at -60% which looks like it will get taken out.. I'll be looking for a new short entry entry at a higher strike price to capture more delta. Down about 2.2K on the trade.
I covered at 297 worried about what we are seeing today. I was gonna short at 320 but that woulda been a loss too, I think I will try shorting around 340 if I don't chicken out again. As drod knows I don't like losing money like him.