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Its a darling of the WSBs crowd, and where I heard about it (don't judge). I bought some at around 31 and gonna sit on it. Supposed to be the "china tesla".
Investing General Discussion
- Thread starter Furious
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Its a darling of the WSBs crowd, and where I heard about it (don't judge). I bought some at around 31 and gonna sit on it. Supposed to be the "china tesla".
Fogel
Mr. Poopybutthole
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Sanrith Descartes
Veteran of a thousand threadban wars
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Yeah I know the basics of it being a Chinese EV play. It went parabolic this year. I was wondering if anyone dug into their financials and the like.
Sanrith Descartes
Veteran of a thousand threadban wars
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My bad. Think it was the $30 strike. After looking at the chart I felt the 25 was a lot safer play but the 30 is nice money.
Blazin
Creative Title
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I can't get myself to stop trading 
Tried yesterday morning to just turn it off and play AC: Vah ended up loading platform up anyway and selling 30 put contracts (about $750k) on QQQ at the lows, which are going to be quite profitable this morning if things hold till open. It really is hard for me to turn off, after I throw some stops in at the open I'm really going to try to let that be it.
Lots of interesting movements in the market keeping me glued. We have had so many instances of people believing there is going to be new leadership that isn't tech. I have bet against this every time for years and years. There will be periods of time where Tech will underperform as it cools off from major outperformance. We all would love nothing more than for Tech to have a major sell off because everyone would want to buy it, which is why it can't happen.
Tech will be taken to the slaughterhouse when nobody wants to own it, even 20-30% off. That day may come and I think it will likely be some "new Tech" that dethrones not people deciding they really want to own some 100yr old industrial with a negative real growth rate instead.
Tried yesterday morning to just turn it off and play AC: Vah ended up loading platform up anyway and selling 30 put contracts (about $750k) on QQQ at the lows, which are going to be quite profitable this morning if things hold till open. It really is hard for me to turn off, after I throw some stops in at the open I'm really going to try to let that be it.Lots of interesting movements in the market keeping me glued. We have had so many instances of people believing there is going to be new leadership that isn't tech. I have bet against this every time for years and years. There will be periods of time where Tech will underperform as it cools off from major outperformance. We all would love nothing more than for Tech to have a major sell off because everyone would want to buy it, which is why it can't happen.
Tech will be taken to the slaughterhouse when nobody wants to own it, even 20-30% off. That day may come and I think it will likely be some "new Tech" that dethrones not people deciding they really want to own some 100yr old industrial with a negative real growth rate instead.
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Sanrith Descartes
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Sanrith Descartes
Veteran of a thousand threadban wars
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FVAC - Shareholder vote is tomorrow on the merger w/MP. It got a nice write-up in Barrons. Im copy/pasting it here so you dont hit the paywall. Stock up 8% yesterday and 6% pre-market today. It is still under $13 for a US based rare earth mining company. That being said, the last two or three companies who tried to make this location work failed. So its really about execution. It isnt a question of market demand. Rare earth demand is going to grow. Its about execution. <insert boilerplate about doing your own due diligence>
edit: +10%
A Rare-Earth Minerals Miner Is About to Go Public. It's a Play on Auto Electrification. -- Barrons.com
BY Dow Jones & Company, Inc.
— 12:17 PM ET 11/10/2020
Another electric-vehicle-related SPAC merger is moving closer to fruition. The special purpose acquisition company Fortress Value Acquisition (FVAC) has scheduled a shareholder meeting for Friday to vote on its pending merger with MP Materials.
The vote has a couple of implications for investors. One shouldn't matter. But one definitely does.
After the merger, Fortress Value's stock symbol will change from "FVAC" to "MP" -- probably Tuesday or Wednesday of the coming week. That shouldn't be a big event for investors, but a few EV-related SPACs have gotten a bump from a stock-symbol change. Fisker (FSR) stock, for instance, jumped 13% around the closing of its SPAC merger and stock-symbol change. Lordstown Motors (RIDE) rose about 4% around the time of its change.
Stock symbols might not matter. Or, at least, they shouldn't. Shareholder votes do, but investors should expect the merger to close without much drama. Fortress Value shares are trading at roughly $11.75 -- versus the SPAC's cash in trust of about $10 per share. The market is clearly ascribing value to the deal.
At the time of the merger, SPAC shareholders also have the option of redeeming their stock for a proportionate share of the cash in Fortress Value's trust. But with the stock trading for about $1.75 more than the cash value, redemptions are likely to be close to zero. On closing and after expenses, MP Materials will get roughly $500 million to execute its business plan. That includes $345 million from Fortress Value, in addition to a $200 million private investment in public equity, or PIPE, from a collection of individual and institutional investors.
MP is partly an EV investment, but it isn't an auto maker like Tesla (TSLA). From a site in the southeastern California desert, it mines rare-earth minerals that go into magnets used in electric motors. About 9% of the magnets derived from MP-type materials go into EV motors. That share, however, is set to rise as EV penetration of the car market increases. Roughly two million EVs were sold around the world in 2019. That number could hit as much as 30 million by 2030, if some of the more optimistic projections are met.
"We don't need to take over the industry," MP Materials Chairman James Litinsky said. "We just need to build a nice business based on the output we have to have a tremendous opportunity."
Right now, MP mines a rare-earth concentrate that is processed and refined by others downstream, mostly in China. Some of the cash from the SPAC merger will be used to build competing refineries in North America so MP can sell more finished rare-earth products to magnet makers.
MP expects a big step up in product prices and projected profitability from its vertical integration. Today, MP can ship about 37,000 metric tons of rare-earth oxide concentrate. After refining, it plans to ship about 6,075 metric tons of Neodymium Praseodymium, or NdPr, rare-earth metals for magnets. MP says 6,000 metric tons of NdPr can make magnets for six or seven million EVs.
"Tesla is moving upstream into materials, we're moving downstream into magnetics," Litinsky said. He will also become CEO once the deal closes next week. "Hopefully valuations will meet somewhere in the middle. I say that in jest, but what Elon Musk is saying -- and I think the rest of the auto industry will follow -- is that the materials supply chain matters, it's a source of edge. We've got that asset."
The company expects its profit to go from about $30 million to $250 million between 2020 and 2023. There will be about 147 million shares of MP outstanding after the transaction, valuing the company's stock at roughly $1.7 billion. Fortress Value and MP sellers have an additional 21.5 million shares that vest if the stock hits certain levels in the coming years.
EVs have been a good space for investors in 2020. The stocks Barron's tracks are up about 400% year to date on average, crushing comparable returns of the Dow Jones Industrial Average and S&P 500.
edit: +10%
A Rare-Earth Minerals Miner Is About to Go Public. It's a Play on Auto Electrification. -- Barrons.com
BY Dow Jones & Company, Inc.
— 12:17 PM ET 11/10/2020
Another electric-vehicle-related SPAC merger is moving closer to fruition. The special purpose acquisition company Fortress Value Acquisition (FVAC) has scheduled a shareholder meeting for Friday to vote on its pending merger with MP Materials.
The vote has a couple of implications for investors. One shouldn't matter. But one definitely does.
After the merger, Fortress Value's stock symbol will change from "FVAC" to "MP" -- probably Tuesday or Wednesday of the coming week. That shouldn't be a big event for investors, but a few EV-related SPACs have gotten a bump from a stock-symbol change. Fisker (FSR) stock, for instance, jumped 13% around the closing of its SPAC merger and stock-symbol change. Lordstown Motors (RIDE) rose about 4% around the time of its change.
Stock symbols might not matter. Or, at least, they shouldn't. Shareholder votes do, but investors should expect the merger to close without much drama. Fortress Value shares are trading at roughly $11.75 -- versus the SPAC's cash in trust of about $10 per share. The market is clearly ascribing value to the deal.
At the time of the merger, SPAC shareholders also have the option of redeeming their stock for a proportionate share of the cash in Fortress Value's trust. But with the stock trading for about $1.75 more than the cash value, redemptions are likely to be close to zero. On closing and after expenses, MP Materials will get roughly $500 million to execute its business plan. That includes $345 million from Fortress Value, in addition to a $200 million private investment in public equity, or PIPE, from a collection of individual and institutional investors.
MP is partly an EV investment, but it isn't an auto maker like Tesla (TSLA). From a site in the southeastern California desert, it mines rare-earth minerals that go into magnets used in electric motors. About 9% of the magnets derived from MP-type materials go into EV motors. That share, however, is set to rise as EV penetration of the car market increases. Roughly two million EVs were sold around the world in 2019. That number could hit as much as 30 million by 2030, if some of the more optimistic projections are met.
"We don't need to take over the industry," MP Materials Chairman James Litinsky said. "We just need to build a nice business based on the output we have to have a tremendous opportunity."
Right now, MP mines a rare-earth concentrate that is processed and refined by others downstream, mostly in China. Some of the cash from the SPAC merger will be used to build competing refineries in North America so MP can sell more finished rare-earth products to magnet makers.
MP expects a big step up in product prices and projected profitability from its vertical integration. Today, MP can ship about 37,000 metric tons of rare-earth oxide concentrate. After refining, it plans to ship about 6,075 metric tons of Neodymium Praseodymium, or NdPr, rare-earth metals for magnets. MP says 6,000 metric tons of NdPr can make magnets for six or seven million EVs.
"Tesla is moving upstream into materials, we're moving downstream into magnetics," Litinsky said. He will also become CEO once the deal closes next week. "Hopefully valuations will meet somewhere in the middle. I say that in jest, but what Elon Musk is saying -- and I think the rest of the auto industry will follow -- is that the materials supply chain matters, it's a source of edge. We've got that asset."
The company expects its profit to go from about $30 million to $250 million between 2020 and 2023. There will be about 147 million shares of MP outstanding after the transaction, valuing the company's stock at roughly $1.7 billion. Fortress Value and MP sellers have an additional 21.5 million shares that vest if the stock hits certain levels in the coming years.
EVs have been a good space for investors in 2020. The stocks Barron's tracks are up about 400% year to date on average, crushing comparable returns of the Dow Jones Industrial Average and S&P 500.
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fris
Vyemm Raider
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My 401k and roth ira are w/ fidelity. i can see growth for both over the years, but i can't separate out how much i've funded it vs the growth. I can figure it out w/ my roth as I've always put in the cap each year, but i have no idea how much i funded my 401k over the years. is that somewhere in the tools that i'm just not smart enough to see?
the question stems from wanting to know if i've crested the point where it's growing more than i'm funding. i've increased funding considerably the last 2 years, so i assume not.
the question stems from wanting to know if i've crested the point where it's growing more than i'm funding. i've increased funding considerably the last 2 years, so i assume not.
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Fogel
Mr. Poopybutthole
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If you click on the 401k there should be a tab that shows purchase history and cost basis for each purchase. Not sure if there's a faster way, but that should at least give you a way to manually calculate it.
Sanrith Descartes
Veteran of a thousand threadban wars
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Look on your monthly statements. It breaks down additions/subtractions and change in investment value.
Sanrith Descartes
Veteran of a thousand threadban wars
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Sanrith Descartes
Veteran of a thousand threadban wars
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Blazin
Creative Title
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Yeah who could have seen that coming.... But it should be noted that value has made slow incremental steps each time it does this setting higher lows and higher highs. So the process is a good one, but people should not be throwing the baby out with the bath water.
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Sanrith Descartes
Veteran of a thousand threadban wars
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Ackman at it again...
www.marketwatch.com
Bill Ackman's 'single best trade of all time' turned $27 million into $2.6 billion — now he's trying it again
The billionaire investor talked about his latest wager on what he believes will be a rough stretch for American corporations due to the economic hit from the...
www.marketwatch.com
Sanrith Descartes
Veteran of a thousand threadban wars
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Almost 4,000 contracts traded on $20 calls expiring on Friday. That is a 25% cushion for the earnings announcement and its trading at 15-20 cents. Crazy.
fris
Vyemm Raider
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My company got us a free year of an investment advisor for our 401ks. They did some shuffling and sent pretty reports once a quarter, didn't change my mix much but did enough that I can't assume much by each fund now.
Furry
WoW Office
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I bought some GM after I said said I made my post saying i was very impressed with what they were doing on the battery front. I know it's your grandpa's stock, but I think GM is on the right track to do some very good things in a few directions. Only a few dozen shares, but it's up 30% since that day, and I'm still optimistic about it.
Sanrith Descartes
Veteran of a thousand threadban wars
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They should never be forgiven for what they and Obama did to 100 years of bankruptcy law and fucking over bondholders in favor of the unions and pensions. Fuck GM. They are on my never own list alongside GOOG. And yes I know they are in indexes. Only so much I can do about that.
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