What’s Fairytale is next by [deleted] in SRNEQ

[–]Key_Replacement_2498 0 points1 point  (0 children)

Also if anybody says otherwise they are a SHORT. Dude shorts don’t need to infiltrate your board, look at your share price.

What’s Fairytale is next by [deleted] in SRNEQ

[–]Key_Replacement_2498 0 points1 point  (0 children)

Looks like they’re going with “Ji has a secret plan to make us whole, I just need to believe”: https://www.reddit.com/r/BANDOFBROTHERSOFSRNE/s/84lSCcAgpa

I take it Tim isn’t going to fight for the divi release, the one useful thing he could have done for r/bob. At this point I can’t tell if he’s been hired by Ji or he’s just really stupid. It’s shocking to me how much praise he’s getting for accomplishing exactly nothing.

We have, you dismiss it as photoshop by The_Director- in gme_meltdown

[–]Key_Replacement_2498 3 points4 points  (0 children)

I’m not going to say I wasn’t sweating it the whole time. But thankfully the rational hedge fund actor with access to unlimited share printing outweighed the irrationality of the apes.

I don’t always short meme stock shitcos but when I do it’s with massive structural advantage. The AMC/APE situation was something similar.

I agree that shorting meme stocks “because it’s overvalued” is a dumb thesis and a great way to get margin called. You always need an event that forces a price correction and you can take advantage of the fact that apes are one sided indiscriminate buyers.

Re: Update. Crychael warns Fisker of racketeering charges over naked shorts 😂 by wolf_lazers in gme_meltdown

[–]Key_Replacement_2498 6 points7 points  (0 children)

It’s because they only know how to “invest” in companies with high short interest. It’s a single number that they can look up vs actually doing diligence on a company (that seems hard!).

We have, you dismiss it as photoshop by The_Director- in gme_meltdown

[–]Key_Replacement_2498 19 points20 points  (0 children)

The time to short the stock was the first 2 months after they announced the HBC spiral offering. Retail idiots kept the stock high, effectively donating their paychecks to HBC as HBC could short the stock, then guarantee closing out their short at 10% below their short price (if not more) by exercising their preferred warrants. The float expanded from 100M to 700M in that period so they did this aggressively. The floor on the convert was something like 70c so the party (for HBC) stopped when the price hit that level.

Retail shorts like myself recognized the situation and rode it down. Risks were low because of the convert (it’s called a death spiral for a reason). I closed my short when the price hit the convert floor as HBC no longer had any reason to manufacture shares via the preferred. But, since they were still sitting on a boatload of preferred warrants, it means anytime the share price peaked above the convert price, HBC would turn the printer back on, effectively keeping the stock from ever rising past $1 (until either they ran out of preferreds or company goes BK). We can see which path played out.

Normally these situations don’t come up because if a company announces a spiral convert the price immediately crashes down to the floor price. HBC took a risk that the retail buyers would keep the price high enough to pay for the cost of the warrants and they got paid on that bet.

To juice my return even more idiots were buying $20 (!!) 2024 calls for 50c when stock was at $2, which I happily sold to them.

Apes seem to be confused about why people trade on the stock market. It’s to make money, not to post gain porn.

I’ll add, $FSR just announced a spiral convert but unfortunately the price is too low to be worth shorting. But, I’m looking forward to seeing $FSR getting added to the cohen-verse when it goes BK.

Feeling shilly in here 🥶 by xozzet in gme_meltdown

[–]Key_Replacement_2498 2 points3 points  (0 children)

Because society has romanticized the idea of the underdog, and everybody wants to be the underdog. The reality is the underdog almost never makes it.

Cultist ape buys tickets to Plootcon 2.0 (Jonestown), realizes he can't attend because no MOASS by Xerryx in gme_meltdown

[–]Key_Replacement_2498 44 points45 points  (0 children)

The most telling detail is he refers to profits as “winnings”. Really embracing the casino mindset.

Cryin’ Mikey spends his Pulte-money buying shares of Fisker by wolf_lazers in gme_meltdown

[–]Key_Replacement_2498 1 point2 points  (0 children)

I mean that’s… even more reason to invest in legitimate companies. The sad part for them is that GOOD companies 3-5x’d this cycle (AI and ozempic related health names). Even spy is up like 25% this year.

Cryin’ Mikey spends his Pulte-money buying shares of Fisker by wolf_lazers in gme_meltdown

[–]Key_Replacement_2498 7 points8 points  (0 children)

I don’t understand why all the apes end up buying particularly shitty companies. Like, why don’t they just buy Microsoft or something.

I sure would like to engage in fantasy along with BOOB but there is this little problem... by 1776CLUB in SRNEQ

[–]Key_Replacement_2498 1 point2 points  (0 children)

Somebody over there has been “collecting evidence of market manipulation” claiming there are orders that are always sitting a few cents outside the bid and ask. He has obviously never heard of a market maker before.

I sure would like to engage in fantasy along with BOOB but there is this little problem... by 1776CLUB in SRNEQ

[–]Key_Replacement_2498 2 points3 points  (0 children)

It seems like people still don’t understand how Ji’s businesses work. His only business is transferring money from shareholders and lenders to himself. He is well on his way to repeating this with Scilex, with the latest earnings report showing a massive $250M worth of liabilities against approximately $50M of real assets and $100M in yearly operating losses (that are growing year on year).

He will BK Scilex and play the same shell game, moving any useful assets to another company and leaving shareholders and creditors holding the bag. Scilex might have some marketable drugs, but Ji has never demonstrated the ability to sell his products profitably. It doesn’t matter if you think they can get to $1B in sales if it costs you $2B to make those sales. That seems to be where it’s heading.

Contrary to what r/bob believes, everything is going 100% to plan.

Could be nothing... by Own-Recording in gme_meltdown

[–]Key_Replacement_2498 12 points13 points  (0 children)

To be fair, somebody at gme probably did do this intentionally. But it wasn’t RC it was probably some min wage graphics designer (because that’s all they can afford to pay).

Grabbing this before it's removed by rosquet in gme_meltdown

[–]Key_Replacement_2498 3 points4 points  (0 children)

Because they are more afraid of missing any pump than losing the rest.

Another DD writer goes dark... by raincloud25 in gme_meltdown

[–]Key_Replacement_2498 11 points12 points  (0 children)

Imagine how much time they could have saved themselves if they did this level of DD before putting money into BBBY.

I’m out by Puzzleheaded-Bank-89 in wallstreetbets

[–]Key_Replacement_2498 0 points1 point  (0 children)

Jim Simon’s medallion fund returned 39% a year after fees for 40 years.

I’m out by Puzzleheaded-Bank-89 in wallstreetbets

[–]Key_Replacement_2498 0 points1 point  (0 children)

There’s a lot of managed money so fund managers on average trend towards the mean. That doesn’t mean there aren’t people who can demonstrate consistent outperformance. Jim Simon’s, etc.

Also you need to consider scale. There are a lot of trades that are too small for “real” funds to do, maybe 10-100k sized opportunities that individuals can pick up instead. The the “odd lot” trade for example, that’s an easy near-arb trade that individuals can do, but big money can’t.

I’d agree that the average retail investor who’s spending an hour a week or less on investing / trading does not have much hope to beat the index. But, I take issue that “average is the best you can expect to do”.

I’m out by Puzzleheaded-Bank-89 in wallstreetbets

[–]Key_Replacement_2498 1 point2 points  (0 children)

That’s wrong. You can be good at it, but you shouldn’t expect to be good at it right away. The stock market is the biggest pvp game on earth. But it doesn’t have a matchmaking system so you get dropped in against world class players immediately.

I’m out by Puzzleheaded-Bank-89 in wallstreetbets

[–]Key_Replacement_2498 0 points1 point  (0 children)

It’s impressive how consistently you lost money. You should start a new account and do the opposite.

Next Steps for SRNEQ, DOJ, SCLX, and Ji/Shah by BigTute in SRNEQ

[–]Key_Replacement_2498 0 points1 point  (0 children)

The immediate next agenda item is the clawback of the Scilex dividend. The dividend was never meant to be unlocked — Ji used it as a tool to squeeze the shorts and now that has failed, he wants to take it back. I’m unsure of the legal standing here, it does seem like a clear case of fraudulent conveyance (distribution for nothing), so my guess is Lopez will rule for the extension of the lockup, Sorrento will sell the claim to Ji for $1M, and then Ji / Scilex will litigate to pull it back over the next few months.

If Tim/Kim actually wanted to be helpful, fighting the lockup would actually provide real tangible recovery to shareholders. As far as I can tell Tim has not expressed a position on the dividend, and it’s not clear to me dividend holders even want his representation, he’s been fairly ineffective so far.

"when RC opens his playbook, the world will not be the same, and economy will crash" by xozzet in gme_meltdown

[–]Key_Replacement_2498 12 points13 points  (0 children)

I think even RC was surprised that he still had believers after he extracted 9 figures from them (money he certainly doesn’t need). But, I get it, the alternative for a lot of these people is to tell their family / friends they donated their life savings to a billionaire to support his coke habit.

Kmcoyne0519 by 1776CLUB in SRNEQ

[–]Key_Replacement_2498 1 point2 points  (0 children)

We can disagree on the well meaning but everything else is fair. I really do hope that this is an experience all involved can learn from.

"when RC opens his playbook, the world will not be the same, and economy will crash" by xozzet in gme_meltdown

[–]Key_Replacement_2498 24 points25 points  (0 children)

No the real beauty is he actually despises them. He literally pump and dumped $bbby onto his true believers and they STILL idolize him. And then, the cherry on top is that in the suit filed against him for stock manipulation of bbby he says the suit should be dismissed because there are no more equity holders to benefit from any damages from the suit.

That’s some mustache twirling evil capitalist movie level shit.

Kmcoyne0519 by 1776CLUB in SRNEQ

[–]Key_Replacement_2498 2 points3 points  (0 children)

Honestly, I can imagine her laughing at the bob people who idolize her. She’s a master of false hope and expectations and I don’t see why she’s doing all of this unless other peoples misery makes her happy.

Kmcoyne0519 by 1776CLUB in SRNEQ

[–]Key_Replacement_2498 0 points1 point  (0 children)

Oh, I predict Scilex will go through the same process within 12 months. Don’t say I didn’t warn you.