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
20,083 Blog Posts

Coronavirus Keeps Stocks on Edge; Tesla Clown Punches Shorts With Minor Secondary

Elon Musk is bowling on shorts again, this time by way of small, unnecessary secondary. The company raised a small sum of money, perhaps to build more flamethrowers, raising $2 billion. Pre-market the stock had dropped $30 because they were wrong. Now the stock is sprinting higher and shorts, once again, are living inside of a custom made hell.

I don’t get the fervor, people. Stop betting against innovators.

Separately, the coronavirus took a serious turn for the worse, with more than 15k people diagnosed positive as of yesterday. The ripple affects of isolating the world’s second largest economy, the factory of the world, is bound to have some sort of impact. It probably isn’t being priced in yet — because people are too busy pricing in the recovery. However, if you get down to brass tacks, this virus is of course a NET NEGATIVE. Will stocks finally get bogged the fuck out, smoking bulls in long Chinese pipes? Only time will tell. But for now, it looks like more nothing.

The Dow is down 70, but my Quant is +70bps. Go figure.

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7 comments

  1. doughjadank

    Musk is a fraud

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  2. the good life

    *sips Sauternes*

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  3. flea

    Why don’t you make your Quant our Quant and sell shares?

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  4. og

    Shorts must be revenge trading TSLA. So dumb.

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  5. awanka

    Negatives are this market’s way of setting up the groundwork for massive inexplicable wins, Mr. Fly!

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  6. gasman

    “ ripple affects”…. Easy on the mescaline Dr. Fly. You’re better self would not approve.

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