1) Wow... When I wrote on Wednesday that "Today's spike in BBBY [when it was trading pre-market near $30] smells like a blow-off top to me, and I expect the stock will be back under $10 per share very soon," I thought it might take a month or two, or perhaps a week or two, but never dreamed that my prediction – a nearly 70% decline – would come so close to coming true within two days! But the massive collapse is exactly what happened after Ryan Cohen, Bed Bath and Beyond's (BBBY) largest shareholder at 11.8%, disclosed in an SEC filing after the close yesterday that he had sold his entire position, exactly as I predicted in yesterday's e-mail, thus completing what appears to be a blatant, despicable pump-and-dump scheme. Have we really become a country in which rich folks can flagrantly violate the law and get away with it as long as they do it openly, in public filings and tweets? For example, consider Elon Musk trying to weasel his way out of the contract he signed to buy Twitter (T
Friday, August 19, 2022
Thursday, August 18, 2022
George Soros is one of the greatest investors of all time... Soros has a fascinating life story. He was born to a Jewish family in Hungary and survived the Nazi occupation of Europe, went on to study at the London School of Economics, and then started one of the first – and most successful – […]
Thursday, August 18, 2022
1) In yesterday's e-mail, I highlighted the absurd and unwarranted run-up in the stock of struggling retailer Bed Bath and Beyond (BBBY), which I think is in a death spiral because it likely doesn't have enough liquidity to build inventory for the holidays and will therefore have to file for bankruptcy. I concluded by predicting […]
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