Daily Discussion and Live SPAC Summary for Jan-26-2021

  1. Boys, I know this isn’t 100% SPAC related but I need to get this off my chest... I sold my GME shares, in at 19, at $35. I did it in good faith at the time I thought ‘fuck yeah, I’ll roll those profits into CCIV’. But today I had the worst day of work in my short career. Fuck you Betsy. If I had still had those GME shares.... I would have $300,000 today. I would have absolutely shit on Betsy in front of everyone, quit my job, and live the good life while I looked for a new one. But nah... I sold them at $35. That will haunt me for awhile. But I am cash gang now. I will tap into every bit of knowledge I have learned from this place, wsb, etc. over the last 12 months and I will rise from the ashes like a Phoenix when this market reverses. I had to put it in writing to make it a reality. Let’s get fucking rich boys.

  2. For anyone interested in this one saw on Twitter that Faraday Future deal with PSAC might be announced on Friday. It's a pass for me.

  3. Sounds like more of same tomorrow. Foreign markets gettin in on meme trade. Seeing more celeb types like Portnoy pumping nok etc.

  4. What’re you talking about. Look at what WSB did for GME, do you not want that for CCIV and FUSE too

  5. Hear me out: GME could be the reason why more companies may want to go public through SPACs. Any company willing to go public would not want to ipo when there is so much volatility and froth in the markets. Load up

  6. Only a few days ago people here were crying that SPACS have gotten too expensive because it’s mainstream now. Only takes 2 days to change the sentiment

  7. Thinking about throwing my life saving into SPACs, specifcally sub 11$ commons. Did my DD. Just want to double check with you guys. So whats the worst case scenario in case of a major market correction? I hold my commons for 24 months and get back 10$+interest?

  8. Dump remaining cash into PSTH or CCIV? I am feeling like the announcements are going to come very close to each other. Maybe I sell off IPOF as well...decisions decisions

  9. You think what Ackman closes will be more enticing than Lucid? Remember that CCIV is going to explode when the DA is announced.

  10. I loaded the fuckin boat with AJAX today, so jacked. The thing is, I’m actually loving watching the hedge funds get absolutely railed and I think this is good for all SPAC investors in the long term. In the short term though... brace for impact. Take a page from the WSBers and callus your hands. I think the rest of this week will show who really has diamond hands

  11. I think GME BB AMC are going to get all the attention again tomorrow and everything else will be forgotten about like today. Could be red again, which is great because I now have some GME profits to play with.

  12. everyone seems to think this will last, but I think that's mostly an emotional reaction to the drop...we tend to project whatever happens into the future

  13. No I’m the same way. Bummed I might have to watch a bunch of red for days, but there’s a chance to take some great positions before we bounce back.

  14. If it bleeds tomorrow and Friday, I’ll throw more at each position. Weeks like this are the ones you look back on thankful

  15. GSAH looking super attractive at these levels...I added 3000 more shares today bringing my avg to the high 11s

  16. tomorrow will be green.. you just have to BELIEVE. And for the love of god don’t sell now if you didn’t yday. We’ll bounce tomorrow or friday so just hold tight and don’t sell the bottom

  17. I know this is not the right sub but CNBC made an argument that the short squeeze can cause people to lose jobs at melvin capital. Bruh shut the fuck up, if GME issues shares and capitalizes on this run up, they can provide tens of thousands of jobs to lower middle class people for a couple of years even without changing any business strategy. CNBC is so fucking worried about the hedge funds and their rich employees

  18. Lol what a pipedream. This thing will crash down to where it started in no time. There's no chance GME can get an equity raise through with all the volatility in their share price.

  19. LGVW and STIC are just punching my portfolio in the dick right now. I'm also a GIK and NGA bull but they're in awful shape too :(

  20. I'm regretting not selling more profits off NGA last week. I think it's going to bleed some more and settle around $19-20/share until the merger.

  21. Maybe a selfish way of looking at it, but I can't help but think it's a good thing (for my portfolio) if people come running to spacs following the latest shit.

  22. Whats the bearish stance behind BFT? I'm sure its just confirmation bias when I'm looking in to it, but I'm having trouble understanding why it's not 20-25

  23. This is hardly fintech. It’s just back office HR / benefits outsourcing, staff augmentation and process automation. Valuation will eventually reflect that. Great business just not explosive growth

  24. Large valuation for a company that needs to adapt to more high growth verticals (which I think they’ll be able to do).

  25. Slow growth compared to other fintech companies. Edit: as a disclaimer I am long BFT but my position is not as big as some other SPACs.

  26. This is such a weird time in the markets. I bet between wsb antics and the rise of spacs there will be more rags to riches millionaires in 20/21 than almost any time in the past. Obviously the last 13 years or so of unprecedented bull run minted a lot too, but that's more of a have money make money situation.

  27. Isn’t redistribution of wealth through an effective market mechanism the core principle of capitalism? Capitalism works if people’s wealth goes up or down by how much value and innovation they bring to the market. It doesn’t work if people with power get to play by different rules or are immune to consequences of their actions.

  28. Don't want to get political here but feel free to dm me why you don't believe in redistribution of wealth. Curious what your perspective is.

  29. Here’s one thing to keep in mind to make everyone feel better. Take a look at a chart of all the 2019 SPACs pre-merger in 2019 .....in March.

  30. The little guy always gets screwed no matter what. Discord suddenly realized that the words that WSB crowds use are amoral after meme stocks rocket how convenient. I am not in any of them apart but this is ridiculous.

  31. The short squeezes were basically started because fuck you. Now that they shut it down, i feel like that's even more reason to buy? Its an even bigger fuck you.

  32. Damn, GME to $245 AH. Not sure it means anything, could bounce right back in the morning. But we should be watching as a mass sell off there could mean the end to our SPAC clearance sale.

  33. Your assuming enough people are at the top of the pyramid already lol. Remember anyone that bought above 245 just lost it all if stays there.

  34. FYI, wallstreetbets is not currently banned. If it was banned, all the sister subreddits would be gone too. But they are all still up right now. If those smaller subs with wallstreetbets in their name were gone, then I’d believe it. I think the mods are just working on filters.

  35. I like how discord was banned and wallstreet went private the a few minutes later you see the stock dip to sub 250s

  36. This is gonna be an unpopular opinion but I think this sub should go private for a few days or weeks. There’s gonna be an onslaught of people coming here from wsb and moreover some SPACs already have enough potential to be meme stocks. We’re trying to make 50-100% profits here not 2000%.

  37. What a load of rubbish (not you op, the news report), nothing to do with hate speech. It was a concerted effort to stigmatise & shut down the little guys & girls who beat the fat cats for once.

  38. As happy as I am for the people who made money of the meme stocks and sticking it to the hedge funds...I am fine with returning back to the bubble lol.

  39. Buy HEC (Talkspace) aftermarket. ARK's Cathy Wood took a position in HIMS (former telehealth SPAC $OAC) today. HEC is going to skyrocket in sympathy tomorrow. It's been following HIMS closely in trading.

  40. Plus brokers are tightening margin requirements. If you have a now deep ITM call on GME or even AMC, you’ll now need more cash to exercise since they’re making it harder to trade the options (can no longer sell spreads etc).

  41. Best case scenario: wsb mods are manipulating the AH market by going private. They'll set it back to public before open tomorrow and the four horsemen will charge to record highs.

  42. One thing to note before WSB went private was the sheer amount of fucking bots pumping stocks. They were either a week old or they were a few years old but have been inactive til today

  43. I sort by new there pretty often, today was a bloodbath. Whole pages of posts and spam 0 minutes old. No surprise if they went private to clean up and make new rules.

  44. So much catastrophizing. Jeez, calm down people. Not everything is some conspiracy of all the big guys in a room screwing the little guys.

  45. One of the big investors in BlockFi liked a tweet asking if BlockFi merging with FUSE. Still lots of room to speculate with that one

  46. It's been gone before. Many times. They will probably bring it back after GME crashes and the dust settles with some long post about how they were forced too

  47. Payoneer said they want to be listed on the Nasdaq and FTOC is listed on the Nasdaq. There are 10 other Fintech SPACs searching for targets, only 3 others are on the Nasdaq. And those 3 have market caps only between 170-330 million. Something new I found

  48. Bought a lot of FTOC today. Figured the risk reward payoff is nicely asymmetric because it is relatively close to NAV and there will be a jump if Payoneer happens.

  49. Is FTOC legit? Been doing lots of DD on it. Doesn't seem too bad. Anyone else want to give their opinion? Thinking about throwing a couple grand into it.

  50. When you take a sub private, every user needs to be added MANUALLY. This is not a good solution for a sub of this size unless the mods get a shitload of help.

  51. If it's private I think only the mods can see it? Unless they manually approve everyone or something? I'm in WSB and don't have access lol

  52. Agreed. Gonna be lots of refugees coming to all of the market related subreddits. Might just avoid this place in general tonight

  53. Honestly I know WSB and their language blah blah is trash but this is fucking WORRYING if they madd them shut down their sub......this is literally social media.....America the great am I right? Is this a communist country now? Lol wtf

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