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50 Cent forgot he had a stash of Bitcoin now worth $8m
Main Post: 50 Cent forgot he had a stash of Bitcoin now worth $8m
Top Comment:
I wish I forgot I had 8 million dollars...
Two cents on the remix news
Main Post:
Man... I hate to stir conflict but some people on this sub really need to lighten up and broaden their musical horizons a little bit. It’s giving puritan. “I don’t like remixes” is such a ridiculously broad statement! You’re not open to any to any musical interpretations of songs by the band - ENDORSED by the band no less - except the exact way they were recorded? I’d put money on there being a large overlap of people who are vocally hating on these (without even hearing them!) and those who immediately voiced dislike for songs from TIW itself when we first heard them, and they’re by the actual band!
I’m all for individuality of opinions, but please take a step back and - to paraphrase Lorde from her email yesterday - “save critique for things that are ready to be critiqued”.
Top Comment: I mean one can dislike whatever they want, but why be so miserable about everything the band tries to do 😭 Personally imma listen to whatever they put out, and if I like it, I'll keep listening to it, but if I don't then there are other things to listen to... I just don't get overreacting to these kind of things from the get-go, like it's not a big deal
Local News Nearly 80 Per Cent of NL Adults Have Primary Care Provider: Report
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https://vocm.com/2024/10/24/254227/
Huh.
Top Comment: Why would it be presented this way when National news agencies are saying 20% of Canadians don’t have a primary care individual and it’s considered unacceptable.
MAXN and LODE are now about the same price at 16 cents. If you sell your MAXN and buy LODE instead I am certain you will make back your heavy losses created by not listening to me in the first place and buying/holding MAXN weeks ago at much higher prices
Main Post:
Drop the zero (MAXN) and get yourself a hero (LODE). MAXN has been pumped and shilled non-stop for weeks by bagholders who are sitting at losses from 50% to as much as 90%. Some goof pinged me yesterday about it being up 40%. Well, all that did was take it back to where it was 2 weeks ago. Unless someone decided to buy the stock for the first time in the last week or so (unlikely given how long and hard this garbage has been shilled), they are still holding heavy bags. The handful of smart traders in at 12 cents are likely already out with their gains.
I'm infamous in this forum for going against the spammers and shills who load this board with their garbage pumps (HOLO, AEMD, MAXN being recent examples). But if you don't know my name, just check my post history to confirm it. I know the angry shills are just going to downvote this post to hell like they do with my others, but that won't stop me from speaking the truth.
Let's get this on the record. MAXN is trash. It got diluted from 54 million shares to 550 million shares recently:
https://dilutiontracker.com/app/search/maxn
All those shorts you see on it, I am 100% sure that the majority, if not all of them, are tied to the financing. People say there is 80% short interest and it's the "most shorted stock". It's not true. You know all that "fake news" that you conspiracy types like to talk about? Well MAXN being the most shorted stock is fake news. They want you to buy thinking it's about to squeeze so they can offload to you. Or is the steadily drifting down stock price not enough evidence of that?
Here's what happens with these things. A garbage company issues 500 million new shares. Someone has to buy those. The ones who buy them don't want to take a risk of actually holding a long position because they are smart and know the 34 cent stock is going to shave 50% off of its price in a matter of weeks. So they immediately SHORT the stock, offsetting the long position. They buy 10 million shares in the financing? They short 10 million shares so their net position is zero. They collect the difference between the buy side on the financing and the sell side on the open market as arbitrage. But to all the clueless retail newbs, that looks like a net new 10 million short position because that's all they see on their precious Ortex data. Ortex is happy because the retail newbs keep giving them money for their monthly subscription so they can feel like they have some kind of insider knowledge. When in reality the entire system is laughing at them, having found a way into their pockets from multiple angles.
As for MAXN having "good financials" and the "best" solar panels or whatever. I want to bang my head against a wall over how completely clueless people are at reading financials and analyzing companies. MAXN sells $1 billion in solar panels. Okay so? It COSTS them $1 billion to make them. Their gross margins are essentially zero, 1% over the last 12 months:
https://finance.yahoo.com/quote/MAXN/financials/
They made a pathetic $10 million in gross margin on a billion in revenue. And to support it, they blew through another $175 million in operating expenses to support that pathetic $10 million margin. Then a whole bunch more in interest and other expenses. The company lost $376 million over the last 12 months. That's why it's collapsing. This company is nearly bankrupt and is pulling out all the stops to try to avoid being bankrupt, which includes throwing shareholders under the bus with an ocean of dilution. Who cares if it makes "the best" solar panels. It doesn't make any money off of them! As a customer, sure go and buy the best solar panels. But as an investor, I want the company that makes the most profitable solar panels, not the best ones. Does McDonald's make the best hamburgers? Not at all, but it's been one of the most profitable and best investments historically.
Finally, people are calling for MAXN to be $2 or whatever. Do you not understand basic valuation techniques? Back when it was trading at $2, it has 54 million shares outstanding. It was trading at a $100 million market cap. With 550 million shares outstanding now, at $0.20 it's trading at a $100 million market cap. $0.20 is the new $2.00.
Most of my long picks here are in the $10+ range. Which I think is why most people aren't too receptive to them. They want to gamble on stocks that trade below $0.50. And I get it, I have mixed results. URGN hasn't done fuck all. IBRX has sucked. But my Chinese plays RGC and NISN has done pretty well and gave lots of good swing trading opportunities. A mixed bag on the long side while saving people from clearly bad pump and dumps with near 100% accuracy is a pretty decent track record here.
But this time there is no excuse. I'm not suggesting a $10 stock. This time I'm suggesting a penny stock that is trading at essentially the same price as MAXN is right now. If you are bagholding near 50% losses with MAXN, you can buy LODE with the proceeds from finally freeing yourself of that shilled-to-death pump and be made whole when LODE trades above $0.30.
Why do I like LODE?
Okay, so this stock is 16 cents for a reason. Just like MAXN and dozens of other penny garbage listings, it has a history of losses and dilution. Historically it has been shit. So why do I like it now? This:
https://finance.yahoo.com/news/comstock-secures-325-million-term-131500119.html
Unlike MAXN and other garbage stocks which secure financing at poor terms while bagholders watch the stock crash, LODE has signed a term sheet for the raising of $325 million in mostly non-dilutive financing transactions. The only dilution comes in the form of 7.5 million shares at $0.40, which is more than double where the SP is now.
The rest of the $300+ million comes from asset sales and investments at the subsidiary level at WAY above the current market cap. LODE's market cap is $30 million. There is no way they should have been able to pull off this type of deal, and when they did, it should have rocketed the stock price.
This research report from Noble, whoever they are, calls for a $2.60 target price:
https://dashboard.channelchek.com/wp-content/uploads/pdf/LODE_20240812_26923.pdf
It doesn't really matter who they are, but what they are saying. And based this on this deal, what they are saying isn't unreasonable. $2.60 is a viable target, but even just a small fraction of that is a multi-bagger at $0.16.
So why is LODE trading at $0.16? It initially spiked to $0.25 upon first announcement of this deal and sunk since. Rebounded slightly over the last couple of days. This is an exercise that MAXN and many other baggies don't do. They don't bother asking WHY the stock is apparently so mispriced. What's the catch? Or they give shitty conspiracy-laden reasons that are most likely not at all reality.
The first thing is that this is just a term sheet. This is subject to due diligence which means the buyer could pull out at any time until it's closed. The market is giving very little credence to the term sheet, which I think is wrong, but for now I have to accept that reality.
The second thing is that a month prior to this deal, LODE undertook some shitty convertible debt financing that is at similar toxic terms one would expect for a penny stock. The buyer of the note likely took advantage by converting below VWAP then dumping on the open market, killing the initially rally at 25 cents. That created the sell pressure and caused traders to leave the stock and it lost its momentum since first announcing the news.
However, given that the volume has dried up and the stock is slowly moving back up again, I think the note conversion is complete. With this financing deal, there is no more need to do further toxic financings that weigh down the stock.
As for the term sheet, management expects that components of this deal will get done at different times. This is great news because it doesn't have to successfully close everything in order to get credit for closing at least some of this deal. If one piece closes successfully, say the asset sale, then the stock price will move up from that. Then if the $0.40 financing closes, it'll move up in lockstep. Finally if the big piece closes, the stock HAS to be at least over $1.00, if not $2.60.
There are a lot of opportunities to profit from news in the near term. As for the chances of the deal getting done, right now the market is valuing it at maybe 5%. 5% of $2.60 target price is $0.13 plus a few cents for the value of LODE before it was announced. Any component that gets closed should significantly enhance market perception about further components getting closed. You really can't go wrong buying in at $0.16 right now. Knowing when to sell will be trickier, but it should be much higher than $0.16.
One final point, the CEO of LODE recently purchased 1.25 million shares at $0.40:
https://www.sec.gov/Archives/edgar/data/1120970/000143774924017567/xslF345X05/rdgdoc.xml
He laid down half a million dollars at well above market prices. Presumably he did that because he is very confident in this deal going through, even though he bought before the term sheet was announced. When was the last time MAXN insiders bought shares?
Top Comment: So buy more $MAXN? Got it!