Lets take a look at a simple price graph of Intel (INTC) for the year, which includes after hours trading.
So what do we have here?
- Pre-Covid, Intel climbed in the first part of the year, reaching a lifetime high of 68.56 on January 24th;
- It then got smacked down hard, just like everything else, during the glorious four weeks when fundamentals actually mattered again;
- Thanks to trillions in (literally) illegal assistance from the Fed, all stocks burst higher;
- And yet, in this environment in which rampant federal fraud at levels never imagined is flooding the “market” with falsely high valuations, Intel has still recaptured about 60% of its Covid losses.
In other words, Intel is trading where it was late in February, during the worldwide panic. Kind of makes you think where INTC would be in an organic market. Ten dollars, I’m guessing?
Incidentally, here’s the kind of results the geniuses over at /WSB had with Tesla options. As one fine example, this guy had built up a nice portfolio to $100,000 before plunging into weekly call options on TSLA. Suffice it to say, he instantly lost 90% of his entire portfolio.