Investing General Discussion

This week will be revenge of the Boomer stocks.

My Mom's account is exploding this morning.

NFIN - Reminder tomorrow is the vote. vote your proxy if you havent already to approve the merger. Less than 3% of the outstanding shares were redeemed which is a good sign for long term. Since this SPAC didnt hit euphoria and didnt catch on with the Robinhood crowd, im thinking it will have a smooth transition in terms of price after the merger.

Netfin Acquisition Corp. Announces Positive Results of Shareholder Redemptions
GLOBENEWSWIRE 8:00 AM ET 11/9/2020
Symbol Last Price Change
NFIN 10.28down 0 (0%)
QUOTES AS OF 04:00:00 PM ET 11/06/2020
- Approximately $250 Million in Cash Will Remain in Trust Account -
- Less Than 3% of Public Shares Elected Redemption -
- Shareholders Are Reminded to Vote in Favor of the Business Combination -

NEW YORK, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Netfin Acquisition Corp. (“Netfin” or the “Company”) today announced that less than 3% of its public shares were submitted for redemption in connection with the Company's previously announced business combination with Triterras Fintech Pte. Ltd. (“Triterras Fintech”). As a result, approximately $250 million will remain in Netfin’s trust account and be released upon the closing of the business combination.

TSLA

BRIEF-Tesla Sold 12,143 China-Made Model 3 vehicles in Oct - CPCA
* TESLA INC SOLD 12,143 CHINA-MADE MODEL 3 VEHICLES IN OCT, VERSUS 11,329 IN SEPT

Fogel said:

True, but I also thought there was a lot of money sitting on the side lines prepping for an election crash/correction which never came. So that money would be able to jump in without selling too much from tech, leading me to think those selling today are either desperate to jump in on the "winners" or are panicking a bit.

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I dont see a tech "sell-off" except for a few specific stocks that got to high on Corona. I see all the unloved sectors grabbing that new money as their valuations are much better vs Tech.

DIS +10% and California parks aren't opened yet.

Locnar said:

Well that day I was waiting for has finally come. Time to set the trailing stop loses on my airlines/cruise stocks.

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My DAL calls expire on Friday with a 36 expiry. Currently at $37. I have a chance to squeak this one out by the end of the week.

edit: my bad they expire on the 20th. Im done

Fogel said:

Airlines and Cruiselines are still way down from their corona highs. Is this the beginning of them returning to their previous valuation or will it be awhile before they see those levels again?

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It will be a while. They are still losing mountains of money. The money they already lost can never come back. This is a euphoria spike in my opinion.

Falstaff said:

I thought that Dow open was a fat finger on whoever is creating the graphic...

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It looks like the Biden Vote graphic from before and after they "stopped counting for the night"

Locnar said:

I'm not going to hold them as long as it is required for them to get to 80 percent of their 2019 highs. They all took a near mortal wound, they will live, but they have a lot of financial healing to do. I KNEW airlines would survive, even in the form of them merging with each other. Cruises were more iffy, but they are huge and could weather the storm for awhile.

This vaccine news means they will all most def. survive (mergers are still a possibility, but who cares about that, just means the get to eliminate competition which means higher yields).

So to answer your questions, yes they all have more upside to go, but so does a lot of other shit. Their big turn around from march has happened, and im done with them for now. I MAY keep a small position in them, but I got margins to pay and breathing a sigh of relief that they've gone up for now.

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We need to think of airlines like restaurants and unlike say a BestBuy. Airlines and Restaurants can never "regain" all the lost sales in terms of empty seats or meals not served. That revenue is vaporized as they cant have customers come in and order 2 meals instead of one. Something like BestBuy can actually recover lost sales revenue with increased sales because they can sell 100x more TVs than normal next year. Planes and restaurants are capped at max occupancy and cant exceed it to make up lost revenue.

All these old price triggers from Feb/March are popping off on my machine.. XXX just went above <insert price here>

My DAL covered calls are -311% today, lol