What I Am Buying Today.

[fenders53]

(06-22-2022, 07:23 AM)cemanuel Wrote:

(06-21-2022, 02:18 PM)divmenow Wrote: Who’s buying META at $156?

I bought $10k at $200 - complete speculative buy. Based on financials it was cheap, cheap, cheap - obviously it's even cheaper on that basis at $156.

Now here's the big news but it's too early for me to have a sense of what it means: https://www.justice.gov/opa/pr/justice-d...erly-known

A positive? Probably - but hard to say for sure until impacts on advertising revenues show up, particularly if they have to apply similar standards to other areas. But for some time now, every time buying it comes up I've pointed at the upcoming DOJ lawsuit as something people darn well better be aware of. 

Anyway, I still consider it speculative and $10k is all I want of any of those. If I held it in a taxable account I could play the tax loss game but it's in my IRA.

I am going to say they are VERY fortunate the maximum penalty under that law is so small.  I can't believe they thought it was a good idea to use their algos in that manner.  They were already hated by both political parties.  Nice job making it worse. I ate a loss on META on a bounce to 215.  I had intended to re-enter but it's getting harder to pick an entry price.  It will get worse if their ad revenues decline.  I heard Zuck is on Mad Money tonight.  I will have to watch that later.