I just went short RGC

Would also like to short BMNR. But there are no shares to borrow unfortunately.

 

i didn't know there are options now. use that for more RGC. You will be able to get unlimited size (as MM are exempt from naked shorting rules).

And your borrow will largely be locked in.

 

Down >10%

I tip my hat to you.

 

It’s down 21%.

I have no confidence in my ability to time anything.

I’m simply questioning how some herbal roots, no revenue, and 12 employees can justify a valuation of more than USD 12 billion — now still over USD 10 billion.

 

Do you think there is more to go?

Did you consider using Put Options?
I see they're Monthly.

 

To me, the December 19 $12.50 puts bidding at $4.20 offer the best risk/reward profile at the moment. Your thoughts?

 

Oh gosh, I'm the last person anyone should ask for financial advice.

 

What you’re asking is whether this company is worth USD 10 billion.

How could it possibly be worth USD 10 billion?

I suppose anything is possible — but I can’t imagine any scenario where this valuation is justified long term.

 

I was looking to sell the July call (my name is Austin Danger Powers) but I don’t have enough margin capacity. 2 weeks and no catalysts and borrow appears to be softening at 100percent vs 250 when I shorted.

 

I see no upside catalysts forever. However, with this crazy stock I guess anything can happen short term. But longer term the market cap makes zero sense.

I wonder why they haven't made a secondary yet. That is the high probability negative short term catalyst.