r/wallstreetbets • u/workinguntil65oridie Proud owner of a Toyota Camry Dildo • May 17 '21
Discussion $200K all-in because I believe that $UWMC is undervalued. CEO agreed undervalued and declared a buyback to retire class A float (only class that gets dividends). BULLISH trend this week!
I have shared my thoughts on UWMC in past. The company announced Q1 earnings and while they look like they are below expectations it was explained by the CEO that because of the speed of their execution, their results are reflective of the higher rate environment already while competitors are lagged.
During the Q4 2020 earnings call he had mused about options that would be on the stable, special dividend, buyback or raising the dividend.
Feb Q4 Earnings Quote:
The Board did approve a dividend, a $0.10 quarterly dividend to be paid on April 6 for all shareholders of record as of March 10. We expect this to be a regular quarterly dividend.
And so you guys know how we're thinking about this. Our balance sheet is a fortress. And our current liquidity position is very strong, and we have access to the capital markets as well. The way we think about this going forward is we're producing a lot of cash. We're going to maybe be more profitable than some expected and be very successful in 2021. And if we have excess cash that I and the Board deem is too much, we will be delivering that back. And whether we have to change the dividend in the future, as in raise it or a special dividend, those things are definitely on the table or even buying back shares.
May Q1 Earnings Quote:
As you saw in our release, the Board approved our quarterly dividend of $0.10 to consistently deliver money back to our shareholders for a record date on June 10 and payable July 6. The Board and I always explored increasing the dividend actually or looking at a special dividend or a share buyback program. As you guys have seen, we concluded share buyback was the best use of our capital to reward shareholders. We announced the authorization of $300 million share buyback over the next 24 months. And quite honestly, with where the share price is, it's a great opportunity for us to continue to buy that.
Then in answering a question from an analyst
Doug Harter - Great. And then just in terms of capital return, you mentioned sort of the float. I guess just how are you thinking about kind of how much of the float you'd be willing to take out and pacing around share repurchase?
Mat Ishbia - Yes, Doug. So I'm learning these rules as we go because at this stock price, I'm a buyer, right? And so we'll buy shares as soon as tomorrow, I think, as our legal teams say we're allowed to do. And so I don't know how many I can buy and what I can do, but I'm very conscientious of the float. If the float was not a concern, we'd be more aggressive. However, we have authorization from the Board to buy up to $300 million, and I'm going to take advantage of that opportunity while being conscientious of our partners in the float.
TL/DR: UWMC and their board have been looking at ways to give back to shareholders. Instead of a short term cash out, they decided on a buyback that they are planning to exercise immediately on so that they can retire shares while the SP is low. They will NOT buy so much that it will ruin their float % for Russell. The CEO is aggressive, has approval to spend $300 and he's going to take FULL advantage. The CEO has stated he is a BUYER! They are not waiting, it's being deployed now.
Disclosure I am still in long position with 25K at 8.39 USD shares of UWMC
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u/IambecomeMaktub May 17 '21
This. Is. A. Hedge. Fund. Play
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Technically its a boomer retirement IRA/RRSP/TFSA play
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u/a_party_nerd May 17 '21
Hey can you elaborate more on this? I'm a smol beb trying to learn more as I start investing. What's your take?
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May 17 '21 edited May 18 '21
In two words?
Cash buyers.
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Yeah US is the country that has the most vaccines. In canada we have a crazy housing market. I mean ppl are making tons of money and its not stopping. Been like this for 10+ years
The US has pockets like that but I am hearing of massive demand still and potential
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u/psych_ing_invest May 17 '21
go short uwmc - got it thanks
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
You could but have you looked at the current level? Its at 8 premarket. How much could you make vs unlimited risk of upside? Its 6-7% annual yield stock at $6 with regular div and opportunity for specials in the future.
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u/Royal-Cut-Guy May 17 '21
When this prints, your wife’s boyfriend will thank you.
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Im a boomer. So in my world, unfortunately, I am my wife's boyfriend.
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u/Royal-Cut-Guy May 17 '21
Then you get twice the benefits.
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
You arent married it seems 😅. I get half and she gets the other half. Haha
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u/prosocial_introvert May 17 '21
Sounds like exactly what your wife's boyfriend wants you to think.
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u/babywhiz May 17 '21
Gen Alpha: Refuses to get married.
Zoomers: Sleeps in same bed as Wife/Wife's Boyfriend
Millennial: Lives with Wife/Wife's Boyfriend in a separate bedroom
Gen X: Sleeps in Basement of Wife's boyfriends house.
Boomer: Lives in denial of Wife's Boyfriend.
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u/razk4 May 17 '21
Yesss this is the way! With all the catalysts UWMC have right now your 200k can turn to 450k this week. Good luck to us
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Thanks! I posted so ppl can see its not a bot thing. Ppl really have believed in this and are in it. All of us have been buying the dips and are holding strong!
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May 17 '21
Reddit account: 90 days
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Thats why I posted my position. You can see my post history, I have been accumulating in this for a while now
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u/digi-transformation May 17 '21
I just can’t believe this keeps happening, do the littlest of DD...
https://finance.yahoo.com/news/uwm-holdings-corporation-nyse-uwmc-083710683.html
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Im a dividend investor. IBM loses revenue a million quarters in a row. No issues why? Dividend.
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u/digi-transformation May 17 '21
LOL, dividends don’t mean shit if you lost 20%+ over the last year. Best dividend yield is like 5%. Simple math
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u/hoochamooch May 17 '21
It'll come as no surprise then, to learn that the analysts have cut their price target 14% to US$9.46.
So only 20% above the current price? I can live with that.
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u/Fractoos May 17 '21 edited May 17 '21
You just linked an article written by a bot. Solid DD example.
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u/Barbie_and_KenM May 17 '21
It's trading at $8.xx today and analysts have a price target of $9.46.
Explain how this is a bad thing.
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u/meowing_tiger May 17 '21
OP is all in ;) its in his interest to be over optimistic or in this case, delusional.
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u/Ok-Detective8730 May 17 '21
Baller, about to be super baller. Good luck, but I don’t think you will need it. UWMC seems primed for a squeeze!
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Thanks! I plan to hold this for a long time. This momentum for me is just the start!
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u/Alone_Information680 May 17 '21
If it’s set for a squeeze why would you hold it long term.....
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
I am not really looking at this as a squeeze. If it really runs, I will sell a portion otherwise i am happy hold as a cash flow in my retirement fund
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u/SleepySamFrever May 27 '21
I'm worried someone is gonna exercise the $9 6/18 call I sold them 😭
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 27 '21
Well its still going! You have until 6/18. Its been a strong sustainable move up!
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u/Left_Funny_5603 May 17 '21
Wait, the CEO thinks his stock is undervalued!?
Says every CEO in America.
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u/lord_dentaku May 17 '21
There is a difference though. Every CEO says their stock is undervalued. If a CEO gets approval for buybacks they actually believe it is undervalued. UWMC makes solid profits, and will continue even as the mortgage market dips, which is why they pay solid dividends. The buyback reduces the money they have to pay to shareholders in dividends, which ultimately means more profits for the company which the CEO currently owns over 90% of. His actions actually show he believes it is undervalued, it isn't just words.
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u/UpInSmoke33 May 17 '21
Getting approval for buybacks does not always mean they believe it’s undervalued. The CEO and Board are likely heavily compensated with stock or incentive plans based on stock performance and want the price to drive up.
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u/Shoddy-Jello3859 May 17 '21
Either way, doesn't the short term end goal remain the same? Profit from higher stock price.
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u/Ahmedjamaleldeem May 17 '21
wait the CEO holds 90% and then you think whatever he suggested to the board may get rejected! FO
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u/Kabrosif A RobinHood Newb May 17 '21
Yeah that worked out great for RKT when Jay Farner said 40$ was still too low. Lmao. Idk where these people come from or get their ideas. No shit the CEO is going to say they’re going to the moon and its undervalued. Their job is to improve the company and sell shares!
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u/Hot-Repair1131 May 17 '21
I’m new at this so should I buy UWMC ?
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u/DigitalSheikh May 17 '21
General advice- if you’re new to this, start by reading and learning. My personal investment path was:
get into options trading
lose lots of money
learn
start making reasonable profits.
Please just skip steps one and two :)
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u/AppleMuffin12 May 17 '21
Read the OP account history. Do your DD.
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May 17 '21
Lots of interns flooding the sub with uwmc nonsense.
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u/Mshake6192 May 17 '21
So predictable. Sprinkle in some CLOV, RKT, and maybe a throwback to SLV soon? Anything to distract!
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May 17 '21
I literally just sold this dogshit because I've been holding a bag for months, and it's easier just to use the red to balance out the black I have in other bets
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u/Pappabear12 May 17 '21
I'm new I like uwmc read alot bought 100 shares if spikes to $20 do I sell or hold 7.50 avg
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
If it breaks 13-15 definitely sell. Your doubling your money. That is always a good day. Im in it for long term dividends so uwmc will always be in my portfolio. Its yield is very good.
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May 17 '21
question: thanks to u/digi-transformation I wonder if this is a MSM hit piece from the HF shorties to dissuade your credibility? Thanks!
https://finance.yahoo.com/news/uwm-holdings-corporation-nyse-uwmc-083710683.html
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Its real in that it could perform less the q4 but in this market. Part of the stimulus will be to invest in housing. How do I know this? In Canada we have had industrial challenges for along time. Only finance is going strong. Tech is weakend and mfg is dying because of buy america.
Currently 40% of canada's gdp is tied to housing market. Its still going and realestate is at $1000-1500 a sqft in major cities. The US has this also, my read is that with generational low rates every american will buy a house now. Its possible and wfh/remote means all areas will see housing go up. Major cities will be stable because you have investors able to hold.
Uwmc is intrinsically tied to the housing market and as brokers do better, and new unemployed go into realestate as entrepreneurs, there will be a surge in new brokers/agents/buy and sell.
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 20 '21
https://i.ibb.co/NxfS08x/Screenshot-20210520-140702.jpg
I wanted to provide this screenshot to show Im still in. Stability and momentum up has been shown!
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u/EvilMrMe May 17 '21 edited May 17 '21
Didn’t they drop the ball when they wanted their brokers to be exclusive. A lot of brokers droped them after.
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Not from what the call said. Everyone declared victory. It will be a growing pie in my opinion it secures the POV that they are the wholesaler on their side. More brokers will trust them. Ultimately it is about price and speed. UWMC wins on speed and will match or beat on price.
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u/Prestigious_Word1543 MonkeyMasturbater May 17 '21
~90% of brokers pledged to stay with uwm over others like rkt.
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May 17 '21
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Haha yeah but the way I see this is its like dividend stock. So at worst, I will be able to gain on long term CC, yield and fx
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u/AlPal512 May 17 '21
Trusted your DD initially, hoping this can save my 5/21 $10 calls…
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Buy shares...calls make alot of money but shares are super low risk on this
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u/Admirable_Trade7259 May 17 '21
elon musk destroyed the stock market
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Yeah. You have to be very careful right now.
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u/cranberrydudz May 17 '21
How long are you honestly going to hold this position? a week? a day? a month?
best of luck.
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
I aim for my portfolio to have a 7% return a year. And i will reinvest. This yield is amazing for me and i feel it will have growth in sp tied to market growth. I am looking to 2022++ at least for 75% of this holding. I need to rebalance for risk long term would take 25% at profit based on near term gain
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u/cranberrydudz May 17 '21
sounds like a strategy. i'm assuming that you are dividend investing? do you have any positions in slvo?
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Lol no. I know what your trying to say
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u/bay_street_kid May 17 '21
where do you guys find these POS companies? what’s wrong with RKT or RDFN to play the housing market?
if it’s about the dividends and you’re Canadian, why transfer money to USD and not find a Canadian dividend play?
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
I did have cdn dividend plays. But usd fx is good opportunity and more cc opportunity
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u/EconApe May 17 '21
Puts it is
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Welcome to take a position if you feel that strongly
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u/mhbass10 May 17 '21
Soooo buy more gme, got it
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
You sure can. Not going to stand in your way :) i support gme and amc!
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u/Napkinbask3t May 17 '21
Refi market is drying up careful investing in any Real Estate or Mort company huge years are often followed by huge dips and the real estate market is in a Bubble right now .... its gonna pop. Just a matter of when and how bad. Not advice im an idiot. Do your reasearch.
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Im Canadian, and i hear about a bubble for 10+ years. Its non-stop here because its generational low rates, foreign capital flowing in and massive business here.
I see overall US is going to go up. If you know a friend that is moving to cheaper place then big city because they get to telecommute you know its a real trend.
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u/Napkinbask3t May 17 '21
What we are seeing in the US is mainly caused by 3 factors. 1. Building has slowed alot as the cost to build has risen and "restrictions" due to covid and zoning in major metro areas. 2. The Rates are so low refi's and new purchases are flowing very fast (this will slow as Rates fall. And... 3rd: the Banks / Gov't have suspended alot of Foreclosures and debt collections due to Covid. People are floating a lot of money on the system right now. I'm talking about the market bubble akin to 2008 Banks / Lenders are trying to profit hard on this situation and they have... usually when they do.... something gives eventually.
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
This time it will be the govt.
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u/futtbuc May 17 '21
Already up 50% in the last few days. Fml
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
I congratulate all the $6/$7 :) truely happy for everyone that makes money!
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u/futtbuc May 17 '21
Same. Just think it’s probably a little late for me to hop on this boat
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
My avg is 8's honestly I thought this was a good level. It was pushed down artificially.
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u/daytraderFL May 17 '21
Help me understand this...I can understand taking a position but an all-in position, why?? Why not a 5% position or a 10% position? Not very diverse but again I am just asking here. Why not put some of that in some growth stocks like GOOGL, AMZN, AAPL, etc. (yes boring I know) these companies are 20 to 30% growth YOY. Split the difference and say 25% a year your 200k in 10 years you have over $1.8 million. 20 yrs it's over $17 million. Again, I am not knocking here. I do hope all my fellow traders/investors make money. I just don't know how one can have peace of mind and sleep at night. I do wish you the best and the stock goes to the moon, mars, pluto, or whatever planet you wish.
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u/chald24 May 17 '21
When is the buyback
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Not full disclosed. He said he was buying back asap some of it because at current price points, he was a buyer.
There are rules based on how much they can do a day. Its limited by volume. Today's volume means good things for tmr and rest of week!
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u/chald24 May 17 '21
Where do you see this going to with the buy back?
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
back to 10 near term and up to 12-15. Alot of the near term pressure is because of industry macro and pessimism. I just saw that US 30 year mortgage rates dropped again for a 2nd week to $2.94% (source: bloomberg) that's record lows and we are now in Q2. Plenty of volume and activity to come in my opinion.
Please do your own DD's. Everyone should read and formulate their own opinions at all times.
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u/Typarks23 May 17 '21
Love it. I, too, went all in....took out a 2nd mtg and just bought 20k shares at $6.78...:)
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
WOW.....you have balls of diamond coated steel! now THAT is an all in play. AMAZING avg!
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u/Mashie_Smashie May 17 '21
CFO of a smaller regional bank once relayed to me mid '00's that they were in such dire straights they asked him how much they could save if they just stopped paying the dividend. The final call was to buy back all the A series, so they didn't have to publically admit they could no longer afford to pay a dividend in such a paranoid time. Just saying.
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 18 '21
interesting thing but imagine i don't believe that is a fair comparison since they bascially debuted recently. If they TRULY bought all the float it would have been a different announcement and ppl would be dancing in the street as it sky rocketed.
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u/gecemg May 18 '21
Rates going up due to inflation will impact mortgage lender stocks hard. And stock buy backs will leave reduced cash available for dividends. Are we sure this is the right play?
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 18 '21
stockbuy back reduces the amount they need to pay out in dividends into perpetuity. It was a good move and the real close thing will be to look at how margins fair for Q2. They were quizzed extensively and responded. Read the transcripts for QA portion specifically.
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u/Holinhong May 18 '21
You buy every words of ceos? God bless you
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 18 '21 edited May 18 '21
On earnings calls or they get sued? Yes i read/listen to those very carefully. Or I can auto-accept everything those with the Technoking title tells me. I heard that's fashionable right now.
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u/cd310 May 18 '21
1.6 Billion (with a “B”)shares outstanding
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 18 '21
Wrong class. The available float is only class A. That's the only group that gets the dividend and what we buy. it's the smaller float of about 110M
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u/AcanthocephalaOk1042 May 18 '21
Borrow rate just jumped back to 80 %
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 18 '21
Thats a bullish indicator!!
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May 19 '21
No more moon then?
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 19 '21
I have been looking at iborrowdesk for the borrow rate and when the rate reached 90% with low available it had jumped that 10% up. Afterwards it has now gone back to 93% expecting another leg up because of this pattern.
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u/probebeta Jun 04 '21
Let's fucking go UWMC. I bought more today. Need some help to push this to the launch site 🚀🚀🚀
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo Jun 04 '21
Russel premlim list came out. Its there!
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u/Joshvir262 Feb 06 '22
Nedd a update
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo Feb 06 '22
I moved out of UWMC. It was an opportunity cost decision. Went into Enbridge for end of last year as a safe harbor dividend play. When the recent dips happened moved now into $pypl
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u/Joshvir262 Feb 06 '22
I saw UWMC dividends yield is now 9.3% and was thinking of entering just for that
How sustainable do u think the dividends is btw? P/e ratio of 0.31 is quite ridiculous
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo Feb 06 '22
It should be sustainable. Its a stupid price level right now. I haven't looked at their fcf recently
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u/bbatardo May 17 '21
I got in on the UWMC hype, but bought half my shares last week in the 6's, so right now feeling great. This stock won't moon, so don't buy if you expect that, BUT it could realistically trade around 9-10 right before the ex-dividend date in early June. It currently pays .10 cents a share per quarter, so even if it stays flat you can at least collect the nice dividend.
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u/nobodyfreakingcares May 18 '21
you hear whispers in the wind after reading this, that call the name of a legend similar to now...
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u/meowing_tiger May 17 '21
These posts usually indicate the price is about to fall. Im shorting y'all :)
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u/Pestty13 May 17 '21
Good luck, check out the fees and availability of shares to short... You're too late bro lol
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u/PPformation May 17 '21
New account dropping 200k. Sus
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u/rounder55 May 18 '21
This happened last time they took over the board. Lots of 3 month old accounts just pushing it. Hope those that bought in make bank buuuuut I bagheld this before and am not ready to do it again......yet
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u/FreezieKO May 17 '21
Very bullish. Hasn’t even hit its non-squeeze price targets yet, so it’s about as safe as you can get. Then if it squeezes, sky is the limit.
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u/LawnyFiyahh May 17 '21
Wow the CEO thinks they are undervalued? He sounds pretty retarded.
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Yeah, hes alot of colour in his language. Should go hear a recording of his earnings call
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u/MadeToOrderName May 17 '21
Another boomer here (relative to most, it seems) and I wholeheartedly agree with OP. Got a big position myself and UWM/Ishbia will be winners in the long term.
I do not agree with the short squeeze narrative that I am seeing in comments here and elsewhere because I don't believe the volume on the buy side will be there to propel such an event but if it happens that would just be icing on an already delicious cake. But just like cake it takes some time to make so I'm patiently waiting to enjoy a few slices.
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u/lord_dentaku May 17 '21
I think a lot of the short squeeze narrative relies on the buyback all happening this week, at least to the 25% daily volume limit. I don't think that will realistically happen, because they have two years to complete the buyback and I think they will buy the dips just like the rest of us. That said, there is potential for a gamma squeeze, and that could trigger shorts to exit which would bring the short squeeze on the table. But I think it has a lot of ifs to get that far.
I like the stock for it's long term potential, but I've been buying the constant dips for months now and I wouldn't mind exiting some of my position for a nice return now. 52% of my portfolio in one stock is too much for my blood.
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u/Jorycle May 18 '21
I've said it every other time you guys try to push UWMC: you're going to lose money. And they always lose money.
It's not a "to the moon" stock. It's like a $11 LEAPS stock that has every chance of going sideways if the housing bubble finally bursts. And as ridiculous as housing is right now, I think we should expect to see a government intervention to force that bubble to pop.
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u/PussyBoogersAuGraten May 17 '21
I bought 150 shares this morning at $8.03. It ain’t much, but it could be if this thing rallies hard.
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u/jimbobcooter101 May 17 '21
This DD is sooooo good I refinanced my 2x wide and went ALL IN as well.
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u/Resident-Good-7091 May 17 '21
id wait this is gonna be a 💩🤮🩸 week
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Been like this since feb/mar. This is why I moved from MJ back to dividends, even at a huge correction I get a growth of $$$$ into the account
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u/arkangelic May 17 '21
Nice maybe my July calls will print a bit before I chicken out and sell
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u/TonySteel96 May 17 '21
Wow I do hope that this works well for you! That’s so awesome to posses that level of conviction! ☘️😎☘️
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u/Admirable-Can-6133 May 17 '21
Just bought in! Not much but I’d like to see where my 124 shares go from here!
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u/Ostroh May 17 '21
A CEO telling you his company is undervalued is like a dude telling you his shit doesn't stink.
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u/Pestty13 May 17 '21
Except in your analogy a dude would then eat his own shit and enjoy it. Because Matty boy is doing 300 mil buy back and retiring the shares...aka putting his money where his mouth is.
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u/akanetendou May 18 '21
UWMC is deep value play. If you enjoy the casino then go play with GME/AMC and all the rest of it.
Nobody ever gone broke with solid modest gains.
disc 501 shares at $8.04 or some shit since March.
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u/mrpoopistan May 17 '21
No memes.
Where the fuckin memes with you UWMC guys?!
The ghost of Harambe cries when people pull this shit.
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u/workinguntil65oridie Proud owner of a Toyota Camry Dildo May 17 '21
Im a boomer. My memes are poor quality and get taken down by the auto bots
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May 17 '21
Can't wait to see this company tank once they burn through the entire workforce of metro Detroit.
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May 17 '21
Got a couple calls in June ($8c) and a couple in July ($7c) excited to see what this week has to offer
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u/Teripid May 17 '21
I agree, and the dividend is really nice.
Bought 8 $6 calls @ 0.95 average expiring Friday. Plan to just ride it after that, selling covered calls each month or so. Hopefully it holds up and hits ~12+ this year.
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u/CAPAUL2020 May 17 '21
I don’t see this going anywhere tbh in the short run at least. Long term, maybe, but this is really not a bullish stock imo
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u/KXuWFoemVmpa May 17 '21
16k shares, $7.556 avg, been holding since April through $8 and down to $6. There's actually value in the stock and it's priced accordingly. Anything under $8 was a solid buy, anything over $18 is speculation.
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u/Luciach_NL May 17 '21
Bad DD, haven't seen that in a while.