iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,423 Blog Posts

A Yearning For Something Terrible

So I wake up to GPRO down more than $5, below its secondary pricing of $75. For an investment banker, this is a worst case scenario. However, the deal is already paid for and accounts have been debited. But you don’t want to screw over retail too badly, otherwise they won’t buy your next deal.

Then I head on over to the ever-so-trustworthy StockTwits, using my iPhone app. There I find the stream to be dominated by bearish fellows, chastising others for being long ‘such a stupid stock’ etc, etc, etc. The overall picture is a cabal obsessed with lower prices. Most of these fellows don’t know why they want lower prices– they just want them.

The truth is, their displeasure with life has led them to a fork in the road. They can either cave in and eat gallons of iced cream and gain 500 pounds. Or, they can go to the StockTwits website and talk shit about ‘stupid stocks.’

Shortly after I finished cobbling through the commentary on the StockTwits app, I moseyed on over to Briefing.com, a website dedicated to news and information. Top notch service, if you’re interested in that sort of thing. I read that BBY reported a blow out quarter and the stock surged. Now I know, being a long investor in that ‘stupid company’ called Gopro, that BBY makes up more than 25% of their revenues. Because of the great demand for GPRO’s products, they’ve recently cleared significant shelf space in order to accommodate consumers who are interested in buying their products.

So what is the bottom line, after all?

Well, GPRO is pricing a large secondary in the hole. The dynamics of the supply versus demand aspect, coupled with a bad tape, has led to a poor pricing environment. Unlike FEYE and other bubble stocks that popped, GPRO is still growing very rapidly and exceeding estimates. The stock isn’t trading 20x sales, like your run of the mill bubble stocks, but instead 8x. Fundamentals appear to be gaining momentum, heading into what might be the best holiday shopping season in over a decade, save the city of Buffalo who has been wiped clean off the map.

If my crystal ball had not been in the shoppe, I might’ve sold GPRO at $85 yesterday. However, as fate would have it, I am still in the stock. Silly ole me.

You know, there’s a fantastic iced cream shoppe down the block. You really should give it a try sometime.

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31 comments

  1. schizo168

    What now? are you telling us to buy more or HOLD?

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  2. bruce keller

    GPRO is CROX

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  3. Dr. Fly

    I never told you to buy in the first place. I told you that it’s going higher and it will.

    Keller is a moron of the first order, on the cusp of a full ban.

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    • bruce keller

      Sorry, I guess it kind of comes off as kicking you while you’re down… I was saying this before you got GPRO. 🙂

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  4. bruce keller

    Seriously, both are goofy looking things mainly worn by professionals that investors assumed everyone would be wearing.

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    • rahagar

      Only pros wearing? Take a hike on a Colorado trail. Kids wear them, their dogs wear them, their grandmas wear them. They are everywhere. Even TX Parks and Wildlife personnel are now wearing them.

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  5. rahagar

    A sucktacular morning in the cards. Add sucky TUBE and it’s expected 60% growth through 2018 (sellsellsell) and LOCO ….I might as well sell it all and buy a 0.00001 CD.

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    • john

      I’m an old, old man who shouldn’t be on this site at all, but I am in a CD LADDER that pays much more than 000.00001%

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  6. bchu12

    Ive never seen anyone top tick stocks like the Fly. Im sure many followed u into gpro that are now screwed

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  7. og

    At least we have MBLY this morning.

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  8. Dr. Fly

    He also doesn’t seem to understand I am long gpro from the mid 60s, jackass.

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  9. bart smith

    when gpro came public the wisdom was don’t buy over $30. It got hyped up now all the founders are selling. Going to $30 again.

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  10. dewey dortmunder

    There seem to be some swine who only post on here to gloat. Let them smoke turds in hell. I will be rooting for GPRO today because I like Dr. Fly in a platonic sense, of course.

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  11. Trent J

    In the fine town of Omaha, Nebraska there is a giant sporting goods store called Scheels. Within this giant sporting goods superstore is the biggest GPRO display I have ever seen. It’s like the size of a small Apple store but with all GPRO devices. The selection is PICKED OVER and we haven’t even reached shopping season. I think if you are long GPRO, stay long, hold it past the Christmas season and you’ll be rewarded handsomely with egregious gainz, bro.

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  12. cppkiller

    You definitely expressed your great enthusiasm to buy buy buy and that a strobg shirt squeeze was coming when the price was around 85..its down over 10% in 2 days….your bullshit pump and dump site scam will come to an end soon.

    Now you say that your never said buy Gpro- lable your self the next Jim Cramer ..if you weren’t buying any when you wrote the post about ab epic short squeeeE why the fuck would you write such a post and mislead people

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    • Trent J

      CPPKiller… Only idiots follow people into trades. Fly offers suggestions and most of us make up our own minds.. Sorry you got caught on the wrong side of the trade.

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  13. thegametheorist

    GPRO on sale. Black friday comes early this year.

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    • bruce keller

      It has multiple $69 competitors… but rich people will buy the $400 version.

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  14. dewey dortmunder

    After you release all that anger, I suggest you grow a ponytail and follow the Najarian brothers.

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  15. xxxhuggiebearxxx

    This is, as the prophecy was foretold last night.

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  16. duckkell

    Buffalo is Kelly TOUGH – this snow is un BILL ievable – 6′!!

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  17. traderconfessions

    Remember with GPRO it’s the initial camera purchase AND subsequent accessory purchases. No doubt it will be a huge holiday hit. But does that mean a higher stock price in the short or long term? Who knows in this casino market.

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  18. Dr. Fly

    I said I liked it at 65 and again at 85. I will say I like it again at 100.

    I fucking like GPRO.

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    • alf44

      .

      … we know how you feel about the “stock” …

      … how do you feel about the “product” ?

      —–

      Do you own one ?

      Is it on your Xmas list ?

      Just curious !

      .

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  19. xxxhuggiebearxxx

    Today, we begin the “Celebration of the Turkey Gods.” Commencing now and lasting through the Monday after Turkey day.

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  20. traderconfessions

    It’s a great product. Underwater image quality is spectacular.

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  21. halfbloodpope

    Is the GPRO camera technology patent protected or is it just best in class?

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  22. handyandy

    I loved it at $68 but was in FMSA big @$11.68 got out at high $12s. Put that money in GPRO at $73.80 then watched the motherfucker drop like a drunk on Meth. WTF. Do I think this will recover to mid $80 in the run up to the fat man coming down my chimney with his nut sack full of GPRO accessories, hell yes.

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  23. superbus1982

    Fly you love the business or you love the stock? both are two different things. 10.4mm shares were just sold. Another 15mm will be sold dec 23. And then an avalanche in February again. What has the stock done since the IPO? Opened 30, went to 100 in 3 months. In the meantime nothing’s changed. Now yes maybe 30 was ridiculously cheap and fair price is 100. Or, maybe, just maybe the stock acted like a big short squeeze bubble like stock, going up 5% no matter what everyday, all the way to 100. And now that new supply comes out the stock can go back to 50 or 30? I don’t know. Not sure which is more likely. Regardless what happens to the stock in the next couple hours and days should be pretty telling, considering that for the first time actual new supply came out.

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  24. handyandy

    Superbus 1982: Its the significant growth potential that is appealing. Unit shipments in the coming years as its market share relative to the overall camera space remains small at present, but this is changing. From 2010 revenue has been doubling plus some:
    2010: 64.46
    2011: 234.20
    2012: 526.00
    2013: 985.70
    2014: 760.30 Q4: 355 I expect.
    2015= 23% growth

    And with lots of cash to grow and expand it not difficult to see where this is headed.
    GPRO is the cool thing right now.

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