One for the ages: I owe Etrade $106k, ouch.

This "whole event" is probably more than one guy losing $100k. A large broker like Etrade likely had multiple shorting KBIO, assuming they allowed it in the first place (which I'm still hesitant to believe).

 

If not a scam, why did he take the page down after making $5k? Seems like he took it down because any more and it would be too much attention and he would be charged with fraud.

 

Here's a question or two ?
How's his wife reacting to all of this ?
Will his marriage survive ?

 

Why do we accept that women will leave as soon as the man loses money? Yes, this guy is a dumbass but should he suffer an even worse fate at the nadir of his life?

 

I thought that scam was referring to the brokerage firm.

 

Well, I say that he should. The bankruptcy will not be as bad as the divorce.
With all of the legal problems and costs that arise because of the above, he likely won't be able to trade.
And that's a good thing.

 

You can only go BK if you have low or no income and assets (most kinds).

 

Your boy Sykes was short this thing at 2 and covered for only a .50 cent loss. Normally a 25% hit in a stock is brutal, but considering what happened he got out good. I wonder if any of his sheep got slaughtered in this one.

 

I haven't talked to sykes for awhile. Last time i was at his miami home it was like entourage-- no clue what he is doing now

 

Well...if he is looking for a life of booze, hookers, and blow he's in the right spot. I think I saw a video of that house he's renting. Looks like a lot of bad things could go on there.....


It mentioned one of his sheep got obliterated in that stock.