BIGC is going bananas today right after their IPO. RKT had IPO today and hasn't lived up to the talk but I think RKT will be heading up.
I didn't think Trump would go full economic nuclear holocaust mode with China so quick. I should have unloaded some of my Tencent shares earlier. Now I'm debating whether to buy the dip cuz Tencent is too smart and has too many revenue streams to be held down by Trump. For those of you who are unfamiliar, they own a ton of the gaming space through smart investments (ex. League of Legends, Clash of Clans, Fortnite) https://www.gamesindustry.biz/artic...rder-that-would-ban-transactions-with-tencent US President Donald Trump has signed an executive order that would prohibit transactions between Americans and Tencent, taking effect on September 20, 2020.
Are you on the wifi outside the starbucks you are living at... all your predictions were absolute duds. Draftkings printed calls this week not puts. USO is still doing terrible while tech (a sector you missed out on) is dominating and breaking records. Youre delusional and unstable.
UPDATE 2:25am, August 7 - The LA Times is reporting that a White House official tells them “the executive order concerning WeChat only blocks transactions related to WeChat, not those involving other Tencent holdings”. No big deal and probably overdue since fb and WhatsApp are restricted in China. Zucks prob been on Trump's ear.
Yesterday, this week's $88 puts were @$4 premium when the underlying was at $88.50. when I checked today after ER price was at $84. Feels too accurate and rigged... Good thing I took your advice and sold half my underlying at $88 ytd. Was thinking of re-entry in the $70s, any views on ddog short term price action?
just to reiterate, i am not qualified to give professional advise. as an amateur, i am happy to share my thoughts o FSLY these are the levels that catch my attention. fsly sitting on the bottom of a trading channel, ~88. there is heavy support at ~ 80, the 38% retracement level is ~78, the DMA is ~ 74. the most optimistic take, the doji will bounce off the low trading channel the middle of the road take, fall to the support level ~80 and consolidate there, before rising the pessimistic view fall the around the ~38 % retracement level / 50 DMA, consolidate around there, before rising
here is 2 cents from an amateur it sure looks like a double top, a bearish TA indicator from mid-Jul to yesterday, the rise from ~240 to 265 was accompanied by declining volume, as well as below avg daily trading volume, suggesting short covering
FB and WhatsApp are more restricted because they opted out of the market and don't want to comply with censorship laws. TikTok and maybe WeChat are just being given blanket bans with non chance to comply with local policy. WeChat would be a big deal because it is the main way people in the US communicate with family and business partners in China. Assuming Trump does his WeChat ban, I would expect Microsoft to work with China to allow for a mutually agreeable operating environment for Skype. That being said, I bought a little more Tencent and have a bigger order like 5% lower in case there's another panic opening next week.
A good idea but unfortunately TD Ameritrade doesn't support HKEX trading. =/ If you are US based, how do you trade HKEX stocks?
I believe you have to have a bank account in Hong Kong (or maybe just China in general, I don't know the specifics) to trade on the HKEX or SSE or SZSE
I think a lot of stuff will be accelerated thanks to elections. Both sides have to look strong going into them since there haven't been a ton of positives about this pandemic. I'm even starting to worry about my BABA shares (again) that I've held onto for years. I knew Tencent was big, but I didn't realize how big in terms of its investment reach. They're invested in more companies than Softbank, which is saying something. I used to think Softbank had their hands in every hot company on the planet.
I don't follow the industry, but seeing as this is causing a pop in AMC and CNK, I thought I'd share. Basically there has existed a law that disallows movie studios from owning movie theater companies. Apparently this ruling just nixed that : Judge Reverses Decades-Old Paramount Consent Decrees https://www.vulture.com/2020/08/judge-reverses-decades-old-paramount-consent-degrees.html
Yeah Tencent doesn't sit on it's laurels and has managed to be one of the rare companies that pivoted successfully from browser to mobile. They make tons of smart bets. All their top execs who run their games business are gamers themselves unlike EA for example, so they actually know the product from a consumer POV. One of my prior companies that I worked at got a publishing deal from Tencent, which we ultimately passed on, but the investment lead was a hardcore gamer whereas most other companies have MBAs/business people who are the decision makers. They're respected in the gaming industry because when they invest/acquire game studios, they are pretty are hands off, and only get involved when it comes to launching the game in China, which is their expertise. They are the anti-EA which tries to absorb you and have suits make all your decisions, which results in many cherished studios dying like Pandemic (Star Wars Battlefront) and NuFX (NBA Street).
Yeah, another angle I didn't even think about until someone mentioned it is they're also trying to come down on WeChat and there are a lot of American companies like Starbucks that use that in China. Not to mention Apple phones in China with no WeChat could affect iPhone sales... yikes. Regarding your Tencent angle, I just listened to someone say that this is leveraging to get China to allow companies like Facebook, Twitter, whatever else into China (really can't see that happening, but who knows), and that companies are getting sold as part of an overreaction. One company mentioned was Activision-Blizzard down 5% today because Tencent has a 10% ownership in them as an example of this overreaction.