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https://www.bloomberg.com/news/articles/2020-07-30/inside-goldman-s-five-day-race-to-seal-a-1mdb-deal-with-malaysia

 

interesting recount of high-stakes negotiations.  really high-stakes.  like a couple of billion dollars high.

goldman initial offer was 200M.  malaysia wanted 7B.  they settled on 4B.  i guess the most powerful figures in the most powerful company in finance weren't that strong-armed.

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Posted (edited)

Seeing reports that the GDP report is going to be brutal. Thankfully, it's already priced in and we're ready for more record high stock prices!

Edit: -32.9% for Q2 GDP growth. Holy fuck

Edited by Captainant

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Futures were already down before the GDP release but once the numbers were made public, futures did basically fuck all.

If a 32.9% drop in GDP doesn't move things, we're going higher.

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Just now, Fudge Nuggets said:

Futures were already down before the GDP release but once the numbers were made public, futures did basically fuck all.

If a 32.9% drop in GDP doesn't move things, we're going higher.

If GDP is plummeting but stock values go up, and unemployment remains at record highs, isn't that what stagflation looks like?

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18 minutes ago, Captainant said:

Seeing reports that the GDP report is going to be brutal. Thankfully, it's already priced in and we're ready for more record high stock prices!

Edit: -32.9% for Q2 GDP growth. Holy fuck

But zerohedge expected -99% GDP rate, so this is pretty much counts as an earnings GDP beat, right?

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So lemme get this right... markets are forward looking and the gdp number actually wasn’t even as bad as anticipated yet the market took a big shit based on gdp report?

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2 minutes ago, bluto said:

So lemme get this right... markets are forward looking and the gdp number actually wasn’t even as bad as anticipated yet the market took a big shit based on gdp report?

In the same quarter:

US unemployment hit record highs

US economic output shrunk by 10%, correlating to a -32.9% annual GDP growth 

US stock market hit record highs

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6 hours ago, 52-80 said:

side rant:  i dont know why these fuckers wont use a wordpress or single-page blog instead of this microblogging bullshit

It’s called Twitter 

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1.5% swings barely get a "huh.. look at that" out of me these days.

We'll probably get it all back by COB tomorrow.

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3 minutes ago, BradInATX said:

1.5% swings barely get a "huh.. look at that" out of me these days.

We'll probably get it all back by COB tomorrow today.

They probably dosed JPow with about 15 hits of acid in his morning coffee.

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30 minutes ago, BradInATX said:

1.5% swings barely get a "huh.. look at that" out of me these days.

We'll probably get it all back by COB tomorrow. lunch today

Even more fixed.

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3 hours ago, Captainant said:

If GDP is plummeting but stock values go up, and unemployment remains at record highs, isn't that what stagflation looks like?

if inflation rips, then yes.  But thus far we haven't seen 'inflation' in the way policy makers have it defined (although clearly asset inflation has taken place).  Right now, all anyone is scared of is deflation, or dis-inflation if you're a central banker.

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8 hours ago, 52-80 said:

side rant:  i dont know why these fuckers wont use a wordpress or single-page blog instead of this microblogging bullshit

As somebody who spends 3-4 hours buried in the back-end of WordPress (think NowThis, but instead of a giant black butt plug, it's a blue and white icon with "WP" on it), they absolutely should  be using it something like twitter.

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12 minutes ago, Parliament said:

Are my S&P 500 puts with a 1700 strike worth any money?

When's the strike date? But probably not, markets don't give a damn 

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I feel like I'm the only person who talks about overstock, and I've mentioned it here about 10 times, and it shot up 30% today after a positive earnings.

 

Apparently they're bringing in so much more revenue and traffic through their pivot to crypto currency.

 

What?

 

I mean, it doesn't sound like a BLATANT, OUTRIGHT scam the likes of Nikola and other Chinese stocks.  And it's low volume, but with consistency and smoothline growth so it's not exactly a pump and dump operation.

 

So what's going on here? I don't get it

 

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It's half institutionally owned.  And there's been much more net insider buying than selling. Again, not a pure PnD

 

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1 hour ago, 52-80 said:

I feel like I'm the only person who talks about overstock, and I've mentioned it here about 10 times, and it shot up 30% today after a positive earnings.

 

Apparently they're bringing in so much more revenue and traffic through their pivot to crypto currency.

 

What?

 

I mean, it doesn't sound like a BLATANT, OUTRIGHT scam the likes of Nikola and other Chinese stocks.  And it's low volume, but with consistency and smoothline growth so it's not exactly a pump and dump operation.

 

So what's going on here? I don't get it

 

You talking about O dot Co? 

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2 hours ago, Trey3216 said:

You talking about O dot Co? 

Yes, The world's favorite discount bedsheets retailer

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23 hours ago, 52-80 said:

I feel like I'm the only person who talks about overstock, and I've mentioned it here about 10 times, and it shot up 30% today after a positive earnings.

 

Apparently they're bringing in so much more revenue and traffic through their pivot to crypto currency.

 

What?

 

I mean, it doesn't sound like a BLATANT, OUTRIGHT scam the likes of Nikola and other Chinese stocks.  And it's low volume, but with consistency and smoothline growth so it's not exactly a pump and dump operation.

 

So what's going on here? I don't get it

 

Overstock has been a total scam for over a decade.  Is that maniac CEO still in charge?

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Overstock has been a total scam for over a decade.  Is that maniac CEO still in charge?

How a scam?

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Posted (edited)

They have been sued countless times for securities fraud over the last dozen years or so.  A google search of "overstock securities fraud" returned 235,000 hits.

I'm not going through each and every one of them.

Edited by Fudge Nuggets

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To be fair, any time there's a big move in a stock that is even arguably inconsistent with news from the corporation, the class-action stock fraud vultures pounce.

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Posted (edited)

Well I guess you can call the SEC stock fraud vultures but they have a bit more bite than the typical ambulance chaser.  

And it looks like the psycho CEO left late last year after the SEC got all up in his shit.  Stuff like that had been going on for years.

https://www.sltrib.com/news/2019/11/16/stock-utah-based/

Edited by Fudge Nuggets

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1 hour ago, BehoId, The Underminer! said:

SPY within striking distance of its precovid high

Time to place puts?

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48 minutes ago, 52-80 said:

Gonna get rid of my market hedging positions.

 

This fucking economy isn't going to correct itself

Well now it’s sealed.

Congress will not come to any compromise on stimulus and the market will tank.

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2 hours ago, 52-80 said:

Gonna get rid of my market hedging positions.

 

This fucking economy isn't going to correct itself

It's fucking dumb, and I stubborn.  A bad combination. 

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i seriously do not believe a scam like this is still functioning in this day and age.  i cant believe the major outlets arent shredding this thing to pieces.... (like they didnt, until they did, for wework...)

 

https://seekingalpha.com/article/4364621-nikolas-nkla-ceo-mark-russell-on-q2-2020-results-earnings-call-transcript?part=single

 

by the way, Overstock up another 15% or so yesterday

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4 minutes ago, 52-80 said:

i seriously do not believe a scam like this is still functioning in this day and age.  i cant believe the major outlets arent shredding this thing to pieces.... (like they didnt, until they did, for wework...)

https://seekingalpha.com/article/4364621-nikolas-nkla-ceo-mark-russell-on-q2-2020-results-earnings-call-transcript?part=single

by the way, Overstock up another 15% or so yesterday

Maybe we (Surly stonkers) should pool some money and start an electric vehicle company. People want to invest in shit like that, people want to get in early, PEOPLE want to believe.
I think we should name it ZZZZZZ Best Electric Vehicles, and of course the vehicle logo will incorporate a DickButt.

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59 minutes ago, 52-80 said:

i seriously do not believe a scam like this is still functioning in this day and age.  i cant believe the major outlets arent shredding this thing to pieces.... (like they didnt, until they did, for wework...)

 

https://seekingalpha.com/article/4364621-nikolas-nkla-ceo-mark-russell-on-q2-2020-results-earnings-call-transcript?part=single

 

by the way, Overstock up another 15% or so yesterday

Here is a shorter article on NKLA - all revenue is from solar installation for the Chairman

https://www.cnbc.com/2020/08/05/nikolas-entire-quarterly-revenue-of-36000-was-from-solar-installation-for-the-executive-chairman.html

Quote

“There are catalysts immediately ahead, and we therefore recommend accumulating shares in NKLA,” JPMorgan said in a note to clients Wednesday.

 

Edited by Wally Fairway

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So there's a company named Nikola now too? It's too bad Nikola Tesla didn't have a middle name. Someone could have claimed that as well and we could all buy electric cars from Eugene, Inc. or some shit.

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1 hour ago, Wally Fairway said:

Here is a shorter article on NKLA - all revenue is from solar installation for the Chairman

https://www.cnbc.com/2020/08/05/nikolas-entire-quarterly-revenue-of-36000-was-from-solar-installation-for-the-executive-chairman.html

 

fuck that JPMorgan.  the analyst from the same company asked this about the prepared statements from the call

Quote

Welcome to the public markets, it's been fun so far. So Mark, I just wonder is this what we get? It's kind of a joke really,

zero preorders.  zero product reveals.  zero product commitments.  not even a single testing data from a prototype product shared except one time we had a truck pull a cargo for anheuserbusch

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3 minutes ago, 52-80 said:

fuck that JPMorgan.  the analyst from the same company asked this about the prepared statements from the call

zero preorders.  zero product reveals.  zero product commitments.  not even a single testing data from a prototype product shared except one time we had a truck pull a cargo for anheuserbusch

And yet the worse it gets, the more I start to be interested. Just imagine if they were actually able to deliver a sale of 1 EV semi truck, or a pick up - that stock would double because of the hype.
As much as I grew up on fundamentals, growth, earning, dividends, stock splits, etc; my stonk plays are 100% momentum and hype driven and yet today NKLA it too pricey to stonk.
Then again I bought DIS puts because I thought they would be hard hit COVID, little did I know that $5 billion in losses in the quarter would not be enough to make those puts worth anything - so what the fuck do I know???

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7 minutes ago, 52-80 said:

fuck that JPMorgan.  the analyst from the same company asked this about the prepared statements from the call

zero preorders.  zero product reveals.  zero product commitments.  not even a single testing data from a prototype product shared except one time we had a truck pull a cargo for anheuserbusch

Thats the amusing thing. Its not like they are cooking the books showing false revenues or grossly exaggerating their progress. Their earnings call was basically we didnt make anything, we didnt sell anything, we don't know really who our partners will be, and we promise to make something at some point a few years down the road. And yet people keep piling money into the stock, because TSLA. 

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9 minutes ago, 52-80 said:

fuck that JPMorgan.  the analyst from the same company asked this about the prepared statements from the call

zero preorders.  zero product reveals.  zero product commitments.  not even a single testing data from a prototype product shared except one time we had a truck pull a cargo for anheuserbusch

Not a Jim Cramer fanboy, but was watching CNBC yesterday and he TRASHED Nikola. His comment was perfection (paraphrasing): 'the markets care about earnings per share, not IDEAS per share'.

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Reminder for this who registered for Stonklympics 2020. Payment info for entry fee is in the gambling thread. Have room for a few more too.

Looked at some banking, airline and cruise stocks this am...I might grab a small play in LUV and RCL again.

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2 minutes ago, Cheeseweasel said:

His comment was perfection (paraphrasing): 'the markets care about earnings per share, not IDEAS per share'.

Yeah, thats where his argument loses steam. 

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1 minute ago, Tailgate said:

Looked at some banking, airline and cruise stocks this am...I might grab a small play in LUV and RCL again.

AMD still has quite a bit of growth ahead of it, and nvidia is about to launch a new product line. Chip stonks are spicy rn if you aren't intel

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4 minutes ago, Captainant said:

AMD still has quite a bit of growth ahead of it, and nvidia is about to launch a new product line. Chip stonks are spicy rn if you aren't intel

I’m just in NVDA. Jumped in a while ago (year plus) as I’m a gamer and know their products well. One of those “should have bought more.” Currently up over 400%.

I have been eye balling AMD...got burned on them years ago...but they seem to be doing well again.

Edited by Tailgate

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Just now, Tailgate said:

I’m just in NVDA. Jumped in a while ago (year plus) as I’m a gamer and know their products well. One of those “should have bought more.” Currently up over 400%.

take the gainz and plow it all into overstock

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1 minute ago, Tailgate said:

I have been eye balling AMD...got burned on the years ago...but they seem to be doing well again.

They are poised to take intel's market advantage and become the top player in the CPU market for consumer and enterprise. Their value has already shot up, but it's not done yet

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