Stock Market thread

SlickyBoy

Hummingbird
I feel and agree with you. Unfortunately, I have cash stuck in retirement accounts that forces me to play the boomer (((stock))) market game. The upside however is there are now crypto ETFs that have been pumping. I'll throw cash into these and hope for the best.

Fun story, I poo poo'd bitcoin and was a proud no coiner for years. I read about Bitcoin in the spring of 2009 on Slashdot and came to the conclusion that it was an interesting solution in search of a problem. I found the anonymous nature of its developer off putting and is something I still don't trust.

I finally relented on my no-coiner ways when I discovered Nexo and its amazing deposit rates for stable coins and the like. This was when I discovered, "utility tokens" or coins used by crypto companies for various things.

If you notice, those utility tokens are all properly registered securities with the SEC something many other altcoins, bitcoin, and ethereum cannot claim. It's not hard to do this either but requires some sort of "management face".

To me, BTC is a proof of concept nothing more. It's taken on a life of its own and it's holding back the wider crypto field, especially NFTs . Crypto is still very very green and the regulatory environment is dangerously in flux.

However the Feds decide to regulate Crypto is going to cause all sorts of whiplashing in price action across the board (positively or negatively). For me, I'm most comfortable in utility coins that have a management team that has properly registered their securities. Nexo's token has done that and is netting me a nice 10% APY in a 3 month CD. That's good enough for me.
You should do the math to see what you would pay to get your assets out of that 401k and into something crypto related. There are such plans that let you use crypto - perhaps even a way to transfer directly into it without withdrawing anything from your current 401k.

I am glad I never got too deep into 401k or IRAs, save for one small SEP IRA I still have with not much in it. For that, I aped into MSFT and a little into GBTC. Those two stocks are effectively another way to play BTC. I would stop short of going into miners like MARA and RIOT though - many other risks with them.

I wouldn't fear regulation too much, we all know it is coming and the big (((players))) already have enough lobbyists to ensure crypto ain't going away. Not exactly the "damn the man!" libertarian money some people thought it would be, but it is still a good place for returns.
 

SlickyBoy

Hummingbird
RVNC was a good call. I put it on my list to do some DD but feels like I missed the train yesterday.



I don't care much about what institutions are buying nowadays. Didn't a bunch of them invest in Theranos ?
Actually, no, they didn't. Some eager beaver VCs did, but when it came time to go public that is when the microscope came out and the fraud was discovered. They should have seen that coming, but there you have it.

"Crypto is very similar to penny stocks, the underlying value is just promises."

No. Nearly every penny stock is trash, and goes nowhere. There are real use cases for crypto projects now. But yes, there are about 8,000 coins and the vast majority of those in the sub-100 rank will go nowhere.


BTC was developed out of the 2008 financial crisis. Whoever came up with the idea saw the writing on the wall and wanted a currency that could not be manipulated and printed at the will of big banks. Started out as nerd money, then drug dealer money, now it's taken seriously by major financial houses and the central banks are - deservedly so - scared.

You most definitely can buy things with BTC (and other cryptos). El Salvador made it legal tender, so I suspect they know that too. I even bought my copy of Roosh's book using BTC. If he held it, it's worth about double what I paid him for the book.

Phones in 2009 versus 2021 - the difference is also true with crypto - a lot of things have been learned about the technology since then, and newer cryptos have more functionality they could not have imagined in 2009. Frankly, the code in BTC is trash for transaction purposes and cannot easily be upgraded. However they went from imagining BTC as a way to pay for things to using it as a store of value, one that appreciates much better than gold. The code really doesn't need to be all that good to just hold BTC for value.

Sure, you won't get 1000x returns on BTC like you could have a few years ago, but we just saw the price 2x in the space of a year. That's not too bad - and good enough for people way richer than either of us will ever be to buy in big.
 
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rvco

Pigeon
There's a famous quote somewhere by some successful investor who's name I can't remember that says that one should only speculate if one can do so professionally.

To be honest, investing in ETF's or just handing a brick of money to a financial professional seems like the best way to make money without having any kind of intrinsic knowledge of corporate finance.
 

Gimlet

Kingfisher
I see no mentions of DWAC, the Trump social media stock/SPAC. People made a lot of money Thurs/Friday. The question is whether it will run up again tomorrow. I believe it will.
 

C-Note

Hummingbird
Gold Member
Update on this company: An unnamed buyer just raised on Ganfeng by offering $3.85 for all of MLNLF's shares with a purchase date of early December. Ganfeng has 10 days to respond. So, looks like I'll make a little more on this investment, but probably still not as much if the company had stayed independent. I think their share price could have easily reached into the $20-50 range in about three years or so.
The bidding war for Millennial Lithium continues. Now, a third company, Lithium Americas, has upped the bids by offering $3.90 per share (4.70 Canadian) of their stock in exchange for Millennial stock. Millennial has already accepted the offer (or more precise, has declared the offer to be "superior"), so we should see an increase in Millennial's stock price today. Besides being a much better option in terms of cash, this is better because it gives Millennial shareholders Lithium Americas stock at a discount, which is currently trading around $20.
 

C-Note

Hummingbird
Gold Member
I've thought about starting a separate thread on battery metal, battery, and electric car stocks as that appears to be one of the hottest sectors in the market this year. You may have noticed that lithium stocks were generally way up over the past two weeks or so. In my opinion, some of them are a little overvalued right now. Some examples:

American Lithium (OTC: LIACF)- This company is still in early assessment stage, but it's stock has gone from $1.20 to over 4 in two months. Its price retreated a little yesterday, but it's still way over $3. That's for a company that is probably at least four or five years from producing any marketable lithium. I haven't bought any stock in this company and if I do, I'm going to wait as I don't see how that price is sustainable right now.

Cypress Development (OTC: CYDVF)- In preliminary prospecting stage, yet its price has gone from under a dollar to almost $2 over the past month. They're not sure if they even have marketable lithium deposits in their claim yet. I haven't bought any stock in this company yet either for the same reason.

Lithium Americas (NYSE: LAC)- Its stock price has gone from $10 to over 30 in two months. I believe they're getting close to opening a mine, so this price may be a little justified, but it still seems a little high to me. I have a few shares in this company and I'm holding them for now as I think in five years or so time they may be worth close to 100.

Standard Lithium (ASE: SLI)- Its stock price has gone from $3 to almost 12 in two months. I believe they're about a year or two away from fully opening their mine in Arkansas. I have a more substantial position in this stock that I bought when it was at its $3 low.

Graphite and, to a lesser extent, nickel stocks are up also, but not as much as lithium. Silver, aluminum, and copper are also used in high-capacity lithium batteries and/or electric cars, but those stocks don't seem to be benefitting from the current speculation, at least at the moment. Cobalt is the other battery metal, but not all lithium-ion batteries use much cobalt. Tesla, for example, tries not to use much of it their batteries. Cobalt is often found to a lesser extent in nickel deposits, so most nickel mines also produce at least some cobalt. The main source for cobalt right now is the Congo in Africa.

It's hard to say if the lithium stock prices will come down much or not. It seems to me that many of them are a little overvalued right now, especially the first two I listed above. If you search around, you'll find some analysts saying that they believe graphite stocks are under-valued, such as this one. It could be that speculators are so focused on lithium that they're neglecting the other battery metals and those might be set for their own boom sometime in the future.
 
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C-Note

Hummingbird
Gold Member
Anyone jump-in on the Rivian (NASDAQ: RIVN) IPO today? I did not but I noticed that it was supposed to start at a price of around $75, but instead started at about $112, dipped to 95, and ended the day at around 100. This company does seem have a competitive advantage over Tesla in one market sector, and that's pickup trucks, since theirs are ready for market and Teslas' are not. I'm not sure if I'll buy them because I assume my electric car ETF- BATT, will buy them for me.
 

C-Note

Hummingbird
Gold Member
Fortunately, it appears that the Biden Administration, as incompetent as it is, has continued the Trump Administration's project of promoting the development of rare earths mining in the US. Rare Element Resources (REEMF), a rare earths mining company based in Wyoming that I've mentioned before, recently finalized their agreement with the Department of Energy (DoE) to receive a $22 million grant to build a small-scale "demonstration" rare earths processing plant at their mine location. Their stock price has jumped as a result. According to their news release, they hope to have plant in operation in about 40 months.

Over the past week or so, REEMF's stock price has risen from $1.20 to 2.50. I expect it will probably stay around the 2.50-3.00 price range for the next 2-3 years until their plant is completed and they start producing some marketable metals. If the plant is successful and rare earths are still in as much demand as they are now, then it wouldn't surprise me if their stock price jumps to around $10 or more.
An update on this one. The company announced that the US government grant was only enough to pay for half of the demonstration plant. So, in order to raise the remainder of the funds, they have offered all existing shareholders (as of October) the option to buy additional shares at US$.24 each up to the total number they already had. I plan on exercising the option on my shares.

This effectively doubles the company's number of outstanding shares, to over 200,000, which obviously dilutes their stock price. However, I'm still optimistic because once they have their demonstration plant up and running in about three years, they will be only the second functioning rare earth mining operation in North America.
 

DeusLuxMeaEst

Pelican
Orthodox Inquirer
Gold Member
This may have been posted in the past, but I'd like to make the forum aware of two websites:


In the US there is something called the Stock Act which requires sitting members of congress to report stock trades within 45 days.

These websites aggregate the data and put them into a readable format.

Now if you're a realist like me, you feel that these people are probably corrupt. Insider trading is banned :)laughter:) so somehow they get an edge...

Anyway, I present buys and tickers from the past year from none other than the 'honorable' Nancy Pelosi.


I ask that members investigate these charts themselves. Look at the dates she bought and the following action. She seems to be psychic...what do you know?

Anyway I present this for information only and is not financial advice.

If a member does follow a politicians pick and makes millions all that I ask is that you donate a portion to a charity that Nancy would hate...and your parish. Then send me a PM, I'd love to hear the story.

You're welcome and good luck!
 
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