First off, I am not a MEME stock guy... I said in a couple of videos I shot at the beginning of this movement that I still look at fundamentals when choosing to buy just about anything but shoes and I don't normally trust people on the internet.
That being said, I am long AMC.
I was talking to our broker the week Robinhood crashed and asked him if the collars they put on GME, AMC, etc affected any of his customers, and he answered, "Large… I have somewhere around 50 real clients… All active traders. And out of those 50, only one is involved in these meme stocks."
I said back to him, "Oh good… Then you're not getting fucked by any of these trading restrictions."
And he replied once again, "Correct… But I wasn't finished… Only one of my clients is involved in these names and it winds up you are sleeping with her."
SO my wife bought what I consider a "slug" of AMC somewhere around $12/share sometime in February. We (she) watched it immediately trade to $5.50, and then we (she) decided to just sit on it.
"And that's not all she sat on!"… WINK!
I pointed out to her last month that we were back in the black in our (her) AMC position, just in case she wanted to peel out of it, and she said, "Nope."
Now the thing is above $50/share and her small investment from 4 months ago is worth just enough to pay for 1 of my 3 kids to go to a year of college in a mid-tier school… And I am happy.
Happy enough to put these things on a watchlist, and looks like another one is being added to that list today.
Clover Health (CLOV) is a health care company that went public in January by merging with a SPAC set up by popular venture capitalist Chamath Palihapitiya… I'll explain SPACs at some point for people who are confused, just not now.
CLOV doubled at one point yesterday and then settled in to close up "only" 70%… And that's following a 32% jump on Monday.
Last sale is around $24, meaning it is up 150% in the last 5 days, and short interest is below 5%.
I don't know what the boards are saying about this yet, nor is this a solicitation to buy what could be yet another worthless piece of shit… AND, as far as I know, no one in my family has purchased shares of CLOV yet (but my wife isn't home).
All I know is that MEME stocks used to have my curiosity, but now they have my attention, and CLOV is another one to add to the board for casual investors like me.
Take a report.