Can you make profit off investing in the downfall of a company you hate? I guess I'll find out on Monday. First time I've ever shorted, so I have a -10% stop on it.
$200 on the ADR and $200 on AZN. Wish me luck!
Not meant to be a flex or anything.
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I wanted to short Twitter a while back, when it was originally bloated at ~$40. It dropped all the way down to ~$15, but I don't invest on margin and so didn't capitalize on it.
Are you doing this in an IRA account? It doesn't sound like you're investing much money, but you can't take advantage of capital gains tax unless you hold onto positions for 12 months or something like that; depending on your income bracket, that might be bad.
$40 for Twitter? Women's hatred platform that isn't worth shit unless it's being manipulated and the advertiser value for Twitter must be hilariously low considering the whole power user thing where 10% of the users make 80 or so percent of the tweets. Only reason it's worth anything is because the people who buy premade tech portfolios get TWTR as part of it.
Still don't quite understand how they made a profit, considering how worthless the platform is. Even Epic stopped buying ads, and they buy ads on everything.
I'm fine financially. I don't want to disclose too much of how I have things set up personally, because who knows if that's a way to dox me, but I have full understanding of the taxes, risks etc involved.
They didn't back when I was considering it. Don't know about their financials now, but it's all a scam. Almost at $70 now, ROFL.
I'm heavily into EVs and February was a really, really bad month for growth stocks. Apparently the worst since the Dot Com bust. They'll recover, but I have to roll my eyes at TWTR outperforming - strike price wise - my entire portfolio atm. That'll correct itself long-term for sure, but is annoying.
Got it. Echo your same sentiments about WSBets btw, there's no point in visiting it. For a while it was just being spammed by a few users for some Matrix chat room, think it got cut down on, but either the experience was lackluster.
Yeah, I genuinely think that's because they're lumped into big tech portfolios on places like eToro. Maybe there's something about Twitter that I don't understand because I hate it so much, but I can't see a single reason why it's worth $70 unless there's some weird kickbacks to Dorsey from globalists going on.
I never went on EVs. I thought Tesla was overvalued and the whole hype around NIO was a little odd. Also, I can't stand the climate cult and helping them indirectly doesn't sound fun to me. It's weird how playing politics with my investments has actually worked out.
My portfolio is based around diversification with a slight banking focus (banks seem like a safe bet with all this uncertainty. Of course, inflation could cripple them, but at that point your profit is worthless too.) but also avoiding companies I hated like Google or Netflix which insulated me quite well from their value collapse. I only really took losses on Microsoft, and I was happy to hold it anyway because I truly believe it to be undervalued even at the pre-drop price. I actually bought a little more when it went down last time.
Only thing that really burned me recently was selling bitcoin at 52k..then it went to 56. I got a profit, but crypto just doesn't work with my style of investment, erring on the side of caution with it just ruins your profits. I'll probably jump back in at the next crash and make a mediocre profit again because I jumped out too early on the rebound. Can't tell if I'm a good investor for closing out up, or a bad one for closing out way too soon.
IMO NIO is the real deal, and I'm hedging most of my IRA on it playing out as such over the next 4 years. Chinese market is massive and they might be profitable by EOY. Getting to the next level after that might be hard, but they have a lot of tech.
Unfortunately, I pretty much hate most companies so I can't apply principles. Wall Street is a dirty, filthy place that saps all morals. All most can hope for is to come out of it well enough to retire early, never mind the debris.
You're doing fine, though I don't have the stomach for crypto. As long as you aren't putting up loses or bleeding on margin, that makes you a wise investor. Compare this to me missing out on cashing out on Fisker's post-Foxconn bump...got a bit too greedy, it didn't make the jump to where it should have, and my potential gains got completely ruined by a mostly Red February. Now I'm waiting for it to go back to its peak so I can offload the warrants and shares and engage in dirty profit-taking games.