https://citronresearch.com/wp-content/uploads/2020/11/NIO-Citron-Pulls-the-Plug.pdf Citron Research pulls the plug on its recommendation on Nio (NIO +11.3%) about two years after making a surprising bullish call on the EV automaker. "It is time for investors to rotate out of NIO, enjoy your profits and look for the next disruptive technology," the firm. Citron's price target of $25 indicates a drop of more than 50% for Nio.
ditto for me. in the EV space, i've been following GM; my ERS play w the 35/40 CALL spread worked out had a kick ass ERS ~ 2 wks ago, record profit and free cash flow, augmented w a positive forward guidance announced ~ $3 Billion commitment to build/expand EV capacity in the US my 2 cents GM, even w a growing / already profitable EV (volt) business, trades w a trailing PE of ~ 17, a ~ 5% discount to the avg for the S&P 500 of ~ 25 has sufficient free cashflow to declare a dividend and/or buyback stocks at this cheap (relative to the S&P 500, more so to its EV competitors) price technically, GM is coming out of the handle to the 1-yr cup-w-handle formation / pattern. according to William O'Neal, publisher of Investors Business Daily, https://www.investopedia.com/articles/active-trading/032415/new-ways-trade-cup-handle-pattern.asp
exited earlier this am @ 70-cents glad that i used a spread to express my bearish take on DIS; DIS traded up today on low volume, a good indication of short covering
NIO tanking like the Rockets franchise after losing to GSW w CP3 lulz. I'm still up big all time, sure, but for how long.
lol. I even looked at XPEV a couple of weeks ago when it was a $19 stock. It hit $45 yesterday, I think. lol. I just don't have any faith in many of those stocks, but in retrospect, I should've bought for the same reason I bought PLUG, SPCE, and GRWG... because there's a FOMO/pile-on trade in all these where they just move up together because everybody wants to ride the latest and greatest trend. I see KCAC/Quantumscape popped today, I didn't buy that, either (we talked about it in this thread a while back). I know it was mentioned in this thread before. I also won't buy HCAC -> CNOO. lol. Hopefully that one won't take off. It's an "electric car manufacturer", so maybe I won't be safe. Citron/Andrew Left are annoying. I swear they just sit around profiting on beating down stocks (although they did go long on NIO at one point). I remember they tried to beat down TSLA forever, then a few days after continuing to say short the stock, all of a sudden basically came out and said "ok, we're wrong -- they're a good company". I was like "huh?"
Ya, there's momentum in these EV stocks right now and when people miss out on one, they pile onto something similar. My buddy bought some KCAC last month and it finally started moving. I am looking at TRNE/Desktop Metal. I might go in for a few shares since it's only $10. It's one of Chamath's SPACs. BIGC has taken a beating. Offering + downgrades...might be a good time to enter?
lol. I've been in TRNE since September (got in too early), but DCA'ed down a bunch since then. I'll hang onto it for a while, I think. I need to research it a bit more to see if there's any new info. We talked about it in this thread a while back, I think. As for BIGC, I see it, but don't follow it. They seem to have beat earnings but then priced a new offering at $68. The big "value shift" from tech to other stocks that everyone has been calling for for months is still going on, so that may play a role in itsdrop lately, too. The big talk now among traders seems to be whether the rest of the year will mean a run up in stocks or if a big sell-off is looming because "everything" is overvalued. There are people calling for a 10-20% sell-off. Yikes. I own too many stocks, but am wondering what to collect some profits in and maybe consolidate.
I haven't had anything crazy during my hiatus, but I should be around more now. I have been in/out FUBO - definitely not as exciting as the stuff I missed. I don't expect anything crazy after earnings and am currently out but have been keeping an eye on it still - and will follow the trend.
Parallel accounts lol. Didn't buy nio but did buy TRNE. Latter has less risk, so as usual, was to scared to to pull the trigger
