Whitney Tilson’s email to investors discussing that he is calling another top on 10 stocks in his Short Squeeze Bubble Basket.
Top In Short Squeeze Bubble Basket
1) I never would have believed it, but the recklessness of a segment of retail investors appears to have no bounds in this market...
After falling by more than 50%, the 25 stocks in the "Short Squeeze Bubble Basket" that I identified in my January 27 e-mail have rallied and are now "only" down 28% on average (versus a 12% gain for the S&P 500 Index).
This type of short-term rally is to be expected, and for stocks like these, this is an opportunity to add to a short or put position because it's clearly a dead-cat bounce.
Thus, I'm officially calling another short-term top – but since I don't have time to re-do my work on all 25 stocks, this time I'm only going to name the 10 most obvious turds in the basket:
|AMC Entertainment (AMC)||$32.04|
|Bed Bath & Beyond (BBBY)||$27.26|
|Nano-X Imaging (NNOX)||$26.71|
|GSX Techedu (GOTU)||$18.08|
|Plug Power (PLUG)||$30.89|
Mark my words: these stocks will fall 25% within a month (probably much sooner), 50% within three months, and 75% within a year. I will be tracking them and will report back to you periodically.
Please Help, Beg Those Who Lost $2 Million To Fake Elon Musks
2) I feel badly for these folks, but it sure is a good example of my No. 1 Immutable Law of the Universe: "If you are a dumbass, there will be consequences!" (which was the theme of my commencement address at my alma mater, Eaglebrook School, in June 2016 – transcript here and video here): 'Please Help,' Beg Those Who Lost $2 Million to Fake Elon Musks. Excerpt:
Do you know which under-the-radar stocks the top hedge funds and institutional investors are investing in right now? Click here to find out.
Dozens of consumers who were scammed by Elon Musk impersonators taking advantage of the recent cryptocurrency mania are begging the Federal Trade Commission for help getting their money back.
Since October 2020, consumers have reported losing more than $80 million to crypto-investment scams, according to the federal agency. Many of the schemes promised that a celebrity associated with cryptocurrency would multiply and return any coins the consumer sent to their digital wallet. The losses to Elon Musk impersonators alone have exceeded $2 million. Such ruses had already been going on for years when Musk, the chief executive officer of Tesla (TSLA) and SpaceX, hosted NBC's Saturday Night Live earlier this month – raising interest in crypto and making it even easier for crooks to find people to dupe.