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Climbing The Wall of Greed.

It's a stupid market with stupid things happening. It's exhausting. Investors have to change out their investment strateties. Caterpillar and Deere had big gains this week and one week Call options on both of them went up in price 400 percent. In recent blogs I have talked about things like coming late to the party and making trades where you would make out like a bandit. Look at this mornings action in "Unusual Machines". I have talked about this stock before. Now this. A look at the Call options on "Unusual Machines" at 9:31 a.m. this morning after the stock jumped $1.57 on the opening. These Call options jumped 300% from their close on the previous day. Also look at the large open interest in these options. These Calls still have one week's life left in them. The question now is who would you be stupid enough to be throwing more money into this? Not me after all this that has happened. Now this. In forty four minutes the Calls that were already u...
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A 1 for 100 Reverse Stock Split. Imagine Living Through That?

Here it is, I have talked about Mullen before.
Now a letter from the C.E.O.
$1,000 worth of stock is now worth ten dollars. One would have to ask the question as to whether there is even any point in keeping this company going? Stumbling along shipping out a few EV trucks here and there is a recipe for a slow death. Here how it traded this week after the reverse split. ($9.84 prior to the reverse split was $.09 cents. People selling out on the morning of the reversal thinking the stock would continue to sink forever, it probably will, sold out only to watch new sharks buying it getting an amazing short term rise. That was somewhat unexpected).
Yes there was a bounce however who wants to buy in now? Look at it's five year chart. What a mess! This wasn't the first time the company did a reverse split.
There where some comments flying in the air last summer to address the issue of short sellers interfering but in all fairness management seemed to be to busy bragging about how quickly their one thousand and fifty horsepower EV could do time lapses around a race tract in California.
In all fairness it's a tough industry to get going in.
Faraday Future mentioned above is another stock we have mentioned in the past as it also has done a reverse stock split. It was a 1 for 70 reverse stock split in late September and then stock dropped another 50 percent after it started to trade at it's new price. See where it is trading now.
These stocks, while interesting to watch are a fools game. (Well not if you were shorting it).

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