Fascinating analysis by Matt Levine at Bloomberg of BBBY's attempt to sell new shares while teetering on the edge of bankruptcy: https://www.bloomberg.com/opinion/a...9.9LL_Y03ZxRz-WxHYCR3qqK__zhZiLuJPaz9FlD4H9As This is a "gift article" link that expires on Feb. 14. The article also contains a very interesting discussion of a recent proposal to allow individuals to self-certify as an accredited investor, i.e., to remove most of the restrictions that prevent ordinary people from investing in stuff that is not publicly traded...
I hereby apply for a Certificate of Dumb Investment! Send me your sure fire trading systems for purchase!
We don't read those things. We just focus on the chart. swing traders ... cannot long because it is not on the uptrend. cannot short now because it is too late to short it.
%% Little girl snooped thru her grand mother's purse+ the drivers license had ''sex= m or f''. The little girl said ''grandma, i see you got an ''f grade on sex'' BBY.F chart is a failed uptrend, below 200dma+ closing below 200dma.
short bear on twitter made a cheat sheet. my take away is bbby gets their financing at $2.37. the underwriter gets a risk free trade with their $6.17 warrants that they can exercise next time there's a short squeeze and dump on the apes. and retail traders get fucked like they usually do. that sound about right?
Very bullish article for the apes! They were on Reddit saying “I did my part buying the preferred and convertible stock yesterday!”. Maybe shills lying to apes because nobody can be this stupid? I give up trying to reason with the the Towel cult because “It’s all a giant conspiracy by Ken and Citadel to push a solid retailer in to BK!”.
I don't think the preferred/convertible shares can be purchased in a retail brokerage account. That's what Levine is talking about... those shares have a face value of $10K each and can only be purchased by an accredited investor. If I'm wrong about this... what's the symbol?
I knew they can’t buy it, it was cute listening to them cheerleading while the price imploded. I had a lot of $3 puts for my situation because the dilution was obvious enough for a dummy like me
I made a little bit of money trading BBBY in the last couple days. But not on the stock. I sold a short ratio call spread, Feb. 10 expiration. On Tue Feb. 7, I sold two 5.00 calls, and bought one 6.50 call, for a net credit of $0.25. The ratio was 2:1. I am not disclosing the size of the position. The risk/reward ratio was... not great. [LOL] I got out this morning for a net debit of $0.03. Spooked by yesterday's "good news." I was afraid the Reddit clowns would run it up again. :-\