Baba is going to test 50's 60's before it rises again. That's my reluctance on buying Yhoo. Plus, the Spinco does nothing to solve the tax issue, the tax carries over to Spinco. Smoke and mirrors.
Good morning Sport, how's your morning looking? I suppose you are going to tell us that you covered in premarket at $34.20? I would expect that from an astute trader like yourself.
Said my last buy was 19.53. My average was in mid 20s. Held them down to the 18's bottom and continued to hold 10K shares until 30s and started layering out. I did OK. It may pull back some at which time I will buy back for the ride to $45.
OK Sport, lol. My last buy on CSIQ was at $19.53. I did take some profits today but still holding a few thousand shares. Will buy back on any dip sport.
Short away! Just let us know when you short so we can hold your feet to the fire as things get hotter and hotter for you.
Nah.......go look last year when it ran from 25 to 41 in six weeks or less. Even at today's price it's got a PE of a little over 8 compared to SPWR which has a PE around 22 and FSLR which has a PE around 16. CSIQ is a great value here and it's going much higher. Sorry if you are short. The earnings when it was $25ish, I sold in low 30's and felt great until it rocketed up. I got back in for the ride to $40 but gave up a couple of points by selling. Holding fast here. It may drop a point or two from here but it will go to $40+ before next earnings.
Pebble, the issue I think is that you cannot have a prearranged plan to sell the spun-off stock or it disqualifies the 355 transaction. See IRC Section 355 (a)(1)(B):
(B)the transaction was not used principally as a device for the distribution of the earnings and profits of the distributing corporation or the controlled corporation or both (but the mere fact that subsequent to the distribution stock or securities in one or more of such corporations are sold or exchanged by all or some of the distributees (other than pursuant to an arrangement negotiated or agreed upon prior to such distribution) shall not be construed to mean that the transaction was used principally as such a device),
JP Morgan probably had to accomodate some of their large customers holding the baba bag yesterday. Once they are out it's down down.
I think it is dead until Baba turns around and I'm beginning to wonder if it will. After Baba getting thrown out of Taiwan (6 months to leave), the scuttlebut about fake buyers, and the S-1 non disclosures and resulting lawsuits, I think it has a long way to fall. 20's wouldn't surprise me on Baba.
If I had a lot of money I would become a resident of Puerto Rico. If you follow the rules in legislation they passed about 3 years ago you can be guaranteed of a 0% tax rate on capital gains, interest and dividends until 2036. Still a US citizen and payment of taxes there satisfies your US taxpayer obligations. Move back to the US in the future, bring your money and no additional taxes.