I sold enough to guarantee a profit even if the rest expire worthless. But I think the market is about to punish bad companies like this one.
Took out 50, took out 49. 48 barely held but not for long. Target is $5.
And much lower! When a bubble bursts and sentiment turns it can get ugly. With a fair value of $0, who knows where the drop ends?!
What are you saying this is worth? I cannot see more than $5 per share and that is a speculative valuation.
It's not a hedge. I would never own this since there is no prospect of earnings. If you own this you have to be prepared for the bubble to burst and stock to go to 0.
Wow it went through 58 like a knife through butter. I am not outright short, but bought August 45 puts for 20 cents. I like the risk reward as they could easily be a 20 bagger.
I truly can see it in front of me like a bright shining star- this stock is in big time trouble tomorrow. The market is starting to punish overvalued companies with no hope of earnings.
Man it's dropping like a lead zeppelin.
Busted through 59 easily, now about to bust through 58! Those 45 puts are golden!
It is dropping in earnest now- with the broad market up so much this is getting wrecked, looks good for a trip into 40s this week.
This was a bold move, but the correct one. Analysts with their upgrades and fake $70 targets may have been selling the stock short into the pump.
Agreed, I have $45 puts, going to make a killing when this collapses the next 2 weeks.
Thanks. Certainly was an expensive lesson, so hopefully it will provide some returns down the road. For one, I will never, ever invest in something quite this speculative. Got to be honest I initially bought for momentum and then threw more money at it on the way down- not something I have done in the past but got kind of frustrated.
Still haven't sold my calls- they will be basically 0 tomorrow. So I estimate I will have lost maybe 2/3 of capital if they are 0 (right now it is about half). So actually I need to triple to make it back. Might take years but I will never give up that is for sure.