Wow, sorry to hear this and best wishes, I hate health issues! And yes, WSF is sometimes a nice distraction. And good to hear that your internet connection is fixed.
I'm so glad that I decided to take a break from Bitcoin, because it completely imploded, same goes for Coinbase and MicroStrategy who are currently attractively priced at $195 and $135, of course the latter performed a stock split. But sadly enough I did get hammered on Wall Street, I knew a crash was coming but I thought it would happen in September or October 2024. Especially the semiconductors (Intel, ARM, Nvidia, ASML, Lam Research) got hit pretty badly. I don't even want to talk about Super Micro, I currently have a $10.000 paper loss, because ''investors'' weren't impressed with its profits margin, give me a break! I did make money with Meta and Eli Lilly, about $2000.
BTC made a nice bound from the mid 50's, but is still at the mid-point of its trading range of ~41-68. For m, I'm glad I dumped the HOOD stock at 21 as I was able to buy it back right before earnings at 15 (the earnings report was a no-brainer as they crushed it in every area. And my baby, Palantir, is doing fine. They just inked a deal with MSFT to supply the Defense dept with AI. Also corporate sales are jumping due to the success of their Boot Camps. Other that that, GE Aerospace and Vertex are sweet (I'll pass on semi's).
Good to see you back again Cruelsister, you took a break from WSF, so did I. And yes, I know you are a fan of Robinhood and Palantir, they did pretty well. I think Bitcoin will eventually climb to $70.000 again, but it might first dip to $55.000, because there is too much going on in the world right now, so Wall Street will remain volatile in the coming months. Think of Trump vs Harris (Trump will actually cause inflation to go up again), Iran vs Israel, and the upcoming earthquake in Japan. I think only Nvidia will be able to give Wall Street a boost when they report on 28 August 2024. I sure hope this analyst isn't right about Nvidia (and AI) still being in a bubble: https://www.investing.com/news/stoc...bble-says-hedge-fund-intel-downgraded-3553530
Well, Bitcoin crashed and I bought Coinbase and MicroStrategy too soon. I still wonder how it's even allowed for a company to buy $8 billion of bitcoin, I mean it's a freaking software company that now claims to be a bitcoin company, it doesn't make any sense. But now Marathon Digital wants to copy MicroStrategy, but at least it was already active in the crypto sector. And congrats with Palantir, they are added to the S&P 500, but that doesn't always have to be a good thing. Super Micro totally tanked (from $800 to $400) after accounting problems, I lost $8000. https://finance.yahoo.com/news/bitcoin-mining-rough-miner-adopted-161022425.html https://finance.yahoo.com/quote/SMCI/
I don't get it, was this directed to me? But anway, Bitcoin has now climbed back to $60.000, I'm not sure why, perhaps because of the upcoming launch of World Liberty Financial? It seems to be based on Dough Finance, a recently hacked crypto app. I think this isn't going to end well LOL. https://www.cbsnews.com/news/trump-world-liberty-financial-crypto-exchange-what-to-know/ https://www.coindesk.com/business/2...-to-a-2m-defi-hack-and-former-pick-up-artist/
BTC is just in its trading range and any movement between 55-70 is just noise; stocks tied to it will no doubt follow suit. Also seems that the Pros are finally waking up to Palantir; and keep an eye out for Summit Therapeutics a stocock I've been acquiring. A study was published last week where their drug outperformed Keytruda by a large margin in NSCLC (Keytruda had 2023 sales of ~25 billion).
So this Bitcoin crap finally made it to $100.000, can't believe it. It's probably because of Michael Saylor's ponzi scheme, he keeps borrowing billions of dollars to buy Bitcoin, and now this lunatic wants all companies in the world to do the same, he recently gave a 3 minute presentation to Microsoft. How about investing those billions in stuff that people actually need, like affordable housing? I mean we already have a stockmarket for all gamblers out there, but that wasn't enough. I must say that I missed most of the rally, Coinbase, MicroStrategy and Tesla went berserk after Trump won. And Trump owns a crypto company, so we know what that means, they are probably going to keep pumping this crypto nonsense. https://finance.yahoo.com/news/bitcoin-tops-100-000-optimism-023519259.html https://www.chaincatcher.com/en/article/2154720
Congrats with Palantir, it's highly overvalued from what I understood though. Robinhood is also doing quite well. As for biotech, I made a mistake of buying Viking Therapeutics at $75, after that it went downhill. But the software sector is also going thru the roof, look at MongoDB, Salesforce, Servicenow, and Palo Alto. I do think a crash is coming though, there are too many companies at all time highs, they are overvalued in my view, think of Netflix, Spotify and Carvana. And let's not even talk about crap like Reddit. I also wonder how much longer Coinbase and MicroStrategy will keep on rising, it all depends on Bitcoin. I think Nvidia and Tesla might have some room to run, but Nvidia will stop growing as fast as in 2024, and most of the time that's bad news on Wall Street. And with Tesla it all depends on the robotaxi, but I keep reading that FSD/Autopilot is still not good enough. https://finance.yahoo.com/quote/VKTX/
Here's some more info about this highly overvalued MicroStrategy stock, I call it a scam. This type of stuff shouldn't be allowed on Wall Street if you ask me. It's officially a software company, but the stockprice is based on its Bitcoin holdings. But it's never planning to sell this Bitcoin, so how is it going to make a profit? So why are people buying this stock? Perhaps someone can explain this to me. https://finance.yahoo.com/news/microstrategys-shares-worth-only-105-120016727.html https://sherwood.news/crypto/microstrategy-bitcoin-valuation-premium/
Teen creates memecoin, dumps it, earns $50,000. Unsurprisingly, he and his family were doxed by angry traders. https://arstechnica.com/tech-policy/2024/12/teen-creates-memecoin-dumps-it-and-earns-50000/
I totally agree that MSTR is overvalued at this point as their market cap is double their BTC holdings, I guess the rationale for those buying the stock is that just as BTC jumped from 50K to 100K, why not another double from here? Personally with the stock at ~$400 I think this is nuts, but I also didn't jump on the stock in Sept when it was at ~$120, so what do I know? Much better is HOOD as a gentle flyer for possible Crypto appreciation or Palantir and Soundhound for AI. But my new favorites are RocketLab and Intuitive Machines. Also purchased some of the Destiny Tech100 closed-end fund (DXYZ) which holds ~37% of the so- far Private shares of SpaceX and other juicy items.
Good to see that you're still around! But the thing that I don't understand is if accounting rules have been changed or something, because companies like MicroStrategy and Coinbase can only be worth this much if their Bitcoin holdings can also contribute to their profits, I guess I should look this up. Not that I'm a financial expert or anything. But I did read an article about how this MicroStrategy ''financial engineering'' works (I call it a scam), I didn't understand most of it though, see link. But it does explain why the stock goes up and down so much, and why it's directly linked to Bitcoin. So besides retail traders like me, it's especially the big guys that are trying to become filthy rich. https://finance.yahoo.com/news/hedge-funds-making-microstrategy-wall-000000560.html
Wow, you're really into these exotic names, I'm personally not. I also try to stay away from meme stocks. I see that GameStop jumped 4 bucks a few days ago because Roaring Kitty posted a picture on Twitter, this is what I call nuts. And did you see what happened with Super Micro? Those bozo's now all of a sudden say that they didn't commit any fraud, their stock is up 30 bucks in 2 weeks, but I took a $10.000 loss months ago, because I still think you can't trust these guys. https://finance.yahoo.com/quote/SMCI/
That's another reason why I believe crypto is totally nuts, and should be regulated. I've also read that at the moment a total of $66 billion has been invested into crap like Dogecoin, how is this possible? What world do we live in? I don't feel sorry for people who invest into this crypto crap and lose all of their money. Of course, less regulation is good for crooks, so we can forget about more regulation. Look at which crook invested in Trumps's World Liberty Financial. https://cryptonews.com/news/justin-...roject/?feed_id=8947&_unique_id=6745543c1f649
It sounds like most people here don't understand crypto, and so they're lashing out in ignorant fear. I'm not sure why. Maybe it makes them feel superior, or better in some way. I guess it would suck seeing people make money whilst you don't. Is it perfect? No. Is it risky? Yes, just like any investment. But to pretend it isn't legitimate is ignorant, as though we are sill living in 2008. Times change. Money changes. The fiat standard is quickly going.
Yes, that 's cool, we all have our own opinions and point of views. I already explained in this topic, why I believe crypto is totally nuts. I would rather see people invest money in other useful stuff. And no, it hasn't got anything to do with feeling superior and I already make enough money gambling on Wall Street. But at least the money that we invest in these stocks, can be used by companies. Actually, I would rather think that people who believe in crypto think they are superior, because ''they get it, while others don't.'' I'm not talking about you per se, but in general.
Seems like Circle, a stablecoin company, is going public next year on Wall Street. I don't claim to understand everything about it, but seems like Stablecoins may actually be useful to companies, see second link. https://www.coindesk.com/business/2...und-5b-valuation-ahead-of-planned-ipo-sources https://experts.bitwiseinvestments....ablecoins-put-an-end-to-money-market-accounts
Here is some more info about MicroStrategy, in order to pump up the price he wants other companies and the US government to buy tons of Bitcoins, what a surprise. I personally believe this would be a huge mistake, I wouldn't be surprised if this will eventually lead to the next financial crisis, and it might be even worse than the one in 2008. Let's hope I'm wrong. https://www.coindesk.com/markets/20...er-big-us-government-purchases-michael-saylor https://www.theblock.co/post/320655...luation-bitcoin-bank-michael-saylor-bernstein
Here is an interesting article, which mentions a couple of things why I don't believe in crypto, at least not at the moment. https://www.brookings.edu/articles/the-brutal-truth-about-bitcoin/
BTW, I forgot to mention fintech stocks, like Affirm, Block and PayPal, they are all at 52 week highs. I think Wall Street in general is in a bubble. At the moment I'm trying to trim my positions as much as possible, before the correction starts. I think it might drop 30 to 40%, too many stocks are overvalued. But I don't expect we will return to a full blown ''bear market'' in 2025. Of course when Wall Street drops, I expect Bitcoin to also correct at least 30%, which means it isn't going to end well for MicroStrategy. I'm also not sure what to expect for Tesla, it's now almost at $400, highly overvalued. https://finance.yahoo.com/quote/SQ/ https://finance.yahoo.com/quote/AFRM/ https://finance.yahoo.com/quote/PYPL/
Thank God, that there are still people with common sense. Microsoft decided NOT to invest in this crypto crap. Just this week everyone could see how volatile Bitcoin is, it crashed from $108.000 to $92.000, so no, it doesn't protect against crashes on the stock market and I also don't see how it will protect against inflation. https://finance.yahoo.com/news/microsoft-shareholders-reject-proposal-tech-203303134.html
This probably explains why Coinbase and MicroStrategy are so overvalued at the moment. I honestly don't understand how this is allowed, very weird accounting rules. And MicroStrategy should have also not been allowed to the NASDAQ 100, since it's not really a software but a financial company now, it all smells like corruption on Wall Street. https://www.crypto-news-flash.com/n...o-live-ushering-in-era-of-corporate-adoption/
As BitCoin hasn't yet established a new trading range after breaking above 75K it is hard to predict the next few months (although ~68K seems to be the floor). As for MSTR,what is more of a concern is not the actual current value of BTC but instead that they are using convertible debt to leverage BTC purchase. A quick peek at their SEC filings will show that they sold ~$6.5 billion Bonds to this end.
