I have been taking a look at WonderFi, which looks a lot to be the Canadian version of FTX. This is another crypto based company which Kevin O'leary seems to be the front-man for, and talks about doing his due-dilligence, etc. In fact, during their last earnings call, I watched him talk for about 1/3 or so of the entire call. Really Kevin??? It also seems, WonderFi has been off doing aquisitions of other exchanges while there has been blood in the streets. Canadian crypto exchanges such as BitBuy and CoinBerry have been some of the popular names gobbled up. When I look at the current financials of WonderFi though, it does look rather daunting... Considering not too long ago, shares were selling at $2.50 or so. And now you can buy em for about 20 cents. That's literally pennies on the dollar for what is another Mr. Wonderful company Let's keep in mind that interest rates are expected to continue to climb, and the fall-out from FTX may be far from over. That said, I don't blame anyone if they wish to do a speculative bet at this point and gab a block of shares. Or perhaps wait a bit for them to go even lower over the next few months. But keep in mind, everything Kevin touches seems to turn to shit. p.s. And if you're wondering about contagion with FTX & WonderFi: No material exposure to Alameda Research or FTX despite early investment https://www.wonder.fi/press-release...-material-exposure-to-ftx-or-alameda-research Seems they invested something like over half a million in FTX shares years ago, but that's about all.
So after the Super Bowl and arena naming indicators, now we have the O'Leary indicator! Peachy!!! If Kevin touches it, it goes down in 6 months or less...
I was actually wondering about that earlier this week. All those TV investors on Shark Tank do nothing but lose everything when off-set. O'Leary has been in one crypto disaster to the next. We'll exclude his other disasters for the moment, including his own failed company he pawned off during the internet bubble to some other poor sap. Mark Cuban has also been in one crypto disaster to another, starting with Titan's run-on-the-bank. There are other names that escape me. I saw yet another one of those TV-investors backing his name and reputation on a total-scam site... "Raging Bull.com" Remember them? They were supposed to educate you into being this amazing day-trader and making all these millions. And all they did was lose millions... Jason Bond and the rest of that crooked crew were rather funny to watch... The copy-cat of snake-oil salesmen.
Wrestlers die early due to physical stress/drugs .... Singers also die early but due to emotional stress ...
Markets got scared finally today. I set a block order for WonderFi, but didn't get a fill at 20-cents. She touched down to a penny spread then went back up. I guess I missed out for being a penny-cheap-skate there. Hopefully, a lot more red will come again.