In case you didn’t see the news in all my snarky tweets, Elizabeth Holmes has completely jumped the shark, and is now offering the unfortunate souls who were stupid enough to buy shares in Theranos TWO of her shares for every ONE they bought. I’m not making this up. Oh, but there’s a catch: you have to promise not to sue her blonde-haired, blue-eyed ass.
Yesterday morning, I covered my short in SNAP for about a 9% profit in just a few days. I called it a “goofy trade”. However, my contempt for the stock is so great that I’ve jumped right back in again. It’s a small position, and my stop is 21.41.
Oh, yes, I remember now – – “trendlines matter”
Just a quick update on Valeant Pharma, which apparently Bill Ackman has nearly 12,000,000 shares of (at much, much higher prices) – – major trendline break means basically there is no limit to how low this can go (excepting for $0.00).
It only took three days as a public company to do so, but 100% of the public buyers of SNAP have now lost money. (And if you mention the $17 offer price, you have no clue what you’re talking about). The stock’s price and the company’s user base will have something in common soon – – both predominantly in the teens.