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McInnis 03
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McInnis 03 said:

Clov squeeze in full effect now


***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
gougler08
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UAVS up 7% PM as well after a strong day yesterday...small caps are back baby!
oldarmy1
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Full cup completion on CLOV above $16. This is where I just went so far beyond net free I can buy an island, maybe two.

And I still have all those $7.50 naked puts that will ride to zero expiration.

3rd largest holding. Rarely do I get those wrong when tying up so much capital looking longer term. Yet less than a year for a 100% ROI on this kind of money is hardly long term IMO.

I hope everyone makes out like a bandit and in the future averages down if they're decision is to mirror my mass accumulation stocks. You have to make your own investment decisions but if that is one of them then you mass accumulate when others are crying.

I did my homework and know that CLOV will be a $30 stock eventually. Where and when considation occurs post cup completion is irrelevant to me now. I've accomplished my goal making a killing in cash out and holding a free ungodly number of shares.

On the business front I have two offers of buyout and am working those against each other. The end of that road is near.

Happy trading!
Maximus_Meridius
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I sold CLOV 6/18 22c's yesterday...so I should be able to get a pretty good exchange on a rollout.
FJ43
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Philip J Fry said:

I averaged myself down to 2000 shares @ 9, but I did this in a non-IRA account. I'm actually not sure how to handle it if it zooms to 30 anytime soon from a tax perspective.
Not sure there is a tax play here on this. If it zooms to 30 and if me I am selling for a 3X+ trade and happily paying my taxes. OA's words of parabolic moves rings loudly in my ears.
McKinney Ag69
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Not sure why this board obsessed with CLOV. GOED is where the real opportunity is. It could be the next Wayfair. Pounding the table again.
wanderer
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Not sure what you mean. You'd pay taxes on the gains the same whether you hold for 11 days or 11 months.
McInnis 03
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oldarmy1 said:

Full cup completion on CLOV above $16. This is where I just went so far beyond net free I can buy an island, maybe two.

And I still have all those $7.50 naked puts that will ride to zero expiration.

3rd largest holding. Rarely do I get those wrong when tying up so much capital looking longer term. Yet less than a year for a 100% ROI on this kind of money is hardly long term IMO.

I hope everyone makes out like a bandit and in the future averages down if they're decision is to mirror my mass accumulation stocks. You have to make your own investment decisions but if that is one of them then you mass accumulate when others are crying.

I did my homework and know that CLOV will be a $30 stock eventually. Where and when considation occurs post cup completion is irrelevant to me now. I've accomplished my goal making a killing in cash out and holding a free ungodly number of shares.

On the business front I have two offers of buyout and am working those against each other. The end of that road is near.

Happy trading!


We now kindly object to you becoming any type of fund manager.

WE NEED YOU HERE
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
Philip J Fry
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Let me try again...

I bought this as a long term investment. I wasn't expecting to fall into a short squeeze meme stock. This sounds dumb as I type this, but do I cash out of my net free shares and how do you know when to do it? Feels like I'm on a game show all the sudden.
gigemJTH12
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hudmoon said:

Took profits! Named her the "net free"! OA1 you and your dad have an open invitation to a trip on Baffin



dude....this boat is incredible. love it.
AgCPA95
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$ASO

Great numbers..increasing guidance.



Academy Sports + Outdoors Announces Record Sales and Earnings for the First Quarter and Raises 2021 Financial Forecast

Net Sales Increased 39.1%; Comparable Sales Increased 38.9%

Gross Margin Rate Increased 950 basis points to 35.7%

Pre-Tax Income Grew to $225.0 million from a loss of $9.5 million

Company Raises Full Year Diluted EPS Range to $4.15 to $4.50

KATY, Texas, June 08, 2021 (GLOBE NEWSWIRE) -- Academy Sports and Outdoors, Inc. (Nasdaq: ASO) ("Academy" or the "Company") today announced its financial results for the first quarter ended May 1, 2021. Unless otherwise indicated, comparisons are to the same period in the prior fiscal year.

First Quarter 2021 Results

Net sales increased 39.1% to a first quarter record $1.58 billion, while comparable sales increased 38.9%. Sales grew 46.8% compared to the first quarter of 2019. The growth was driven by continued strong, double-digit consumer demand across all product categories, notably in Apparel, Footwear and Team Sports, as well as across our entire geographic footprint. E-commerce sales declined 21.0%, as the website anniversaried triple-digit growth in the first quarter of 2020, as consumers shifted to online ordering at the beginning of the pandemic last year. Over the last two years, E-commerce sales have increased 300.0% during the first quarter.

Gross margin increased 89.2% to $563.7 million, the highest quarterly gross profit in the Company's history. The gross margin rate increased 950 basis points to 35.7%. This growth was primarily driven by improved merchandise margins from a favorable mix shift, higher average unit retails, fewer promotions and less clearance activity.

The growth in gross profit, coupled with 450 basis points of selling, general & administrative expense leverage, resulted in $224.9 million of pre-tax income versus a loss of $9.5 million in the first quarter of 2020.

Net income was $177.8 million compared to a loss of $10.0 million in Q1 2020. Diluted earnings per share were $1.84 compared to a loss of $0.14 in the prior year quarter. Pro forma adjusted net income, which excludes the impact of certain non-cash and extraordinary items, increased from $0.4 million to $182.5 million. Pro forma diluted earnings per share were $1.89 compared to $0.01 per share in the prior year quarter.

"The Academy Sports + Outdoors team again generated record-breaking sales and profits, while delivering fun to our customers," said Ken Hicks, Chairman, President and Chief Executive Officer. "The strategic initiatives implemented over the last few years, a shift in consumer spending into sports and outdoor categories, government-issued stimulus checks, the addition of new customers and more frequent shopping by existing customers are driving consistent growth. We believe our broad, value-based assortment, available through a true omnichannel experience, positions us to continue to capitalize on these market trends."

Balance Sheet Update

As of the end of the first quarter, the Company's cash and cash equivalents totaled $593.3 million and no amounts were drawn on its credit facility. During the first quarter, net cash provided by operating activities was $219.2 million compared to $90.8 million in the first quarter of 2020.

Subsequent to the end of the first quarter, on May 10, 2021, Academy's largest shareholders completed a secondary offering of the Company's common stock and Academy purchased and retired 3.2 million shares for approximately $100 million. As a result of this reduction in shares owned by the largest owners, Academy's largest shareholder owned approximately 31% of the Company. In addition to the stock repurchase, the Company paid down $99 million of its outstanding term loan and refinanced the loan's interest rate from LIBOR + 5.0% to LIBOR + 3.75%.

Michael Mullican, Executive Vice President and Chief Financial Officer, said, "Based on the extraordinary sales and margin results, the Company has fortified its balance sheet and is also increasing its full year earnings outlook. Academy's cash balance is stronger today than at the end of fiscal 2020 even after using $199 million to repurchase shares and pay down a portion of its term loan."

2021 Outlook

While there is still economic uncertainty from the impact of COVID-19 and other external factors, based on the strong performance of the first quarter and the visibility we have for the remainder of 2021, the Company is increasing its fiscal 2021 guidance as follows:


Fiscal 2021 Guidance
--------------------------------------
Previous New

Comparable Sales (2.0)% to +2.0% +6.0% to +9.0%

Net Income (in millions) $265.0 to $290.0 $400.0 to $435.0

EPS-diluted $2.70 to $2.95 $4.15 to $4.50

The EPS estimate is based on diluted weighted average shares outstanding of 96.5 million shares and a tax rate of 23.0%.
McKinney Ag69
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GOED is going to hit double digits sooner rather than later. Trying to help everyone here reap the benefits. It's up .20 in pre market. Try to get in on a stop loss raid under 3.00 after weak hands are shaken out by bears.
McInnis 03
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ASO may be one to profit here from the short squeezes also.

ASO rocket engaged.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
McInnis 03
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Challenger 17 said:

Not sure why this board obsessed with CLOV. GOED is where the real opportunity is. It could be the next Wayfair. Pounding the table again.
We're "obsessed" because we've been bag holding and now we're out of the hole. There is more than one way to make some cash. Congrats on GOED.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
trip98
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Only"great" numbers?!?!?!

They destroyed it!!

Glad I bought my $45 call back.... Going to sit and watch for a while
McInnis 03
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Wow, that report is stellar. STELLAR.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
sts7049
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TOS is acting wonky for me, i presume due to this global outage?
trip98
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Challenger 17 said:

GOED is going to hit double digits sooner rather than later. Trying to help everyone here reap the benefits. It's up .20 in pre market. Try to get in on a stop loss raid under 3.00 after weak hands are shaken out by bears.


I'll probably take a small position but remember you compare it to Wayfair and the like that benefited from the pandemic immensely.
Lots of competitors in this space
And clov is something folks have been on for a while. Heck I sold and took my lumps on it a long while ago
Red Pear Luke (BCS)
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Sponsor
AG
Challenger 17 said:

Not sure why this board obsessed with CLOV. GOED is where the real opportunity is. It could be the next Wayfair. Pounding the table again.
Saltyag15
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Did a little research and got in with you yesterday morning. Let's send this sucker to the moon.
McKinney Ag69
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Institutional ownership of GOED.
trip98
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La Bamba said:

Had 7K shares of CLOV at 7.84 and sold last night at 10.90. This is just ridiculous right now.

As someone who took lots on clov a while ago I gotta say I'm bummed you didn't go net free on some! That's a key lesson OA1 wanted everyone to get from this thread he started
You could have sold 5000 shares and Ben sitting on 2000 net free. Then sold cc's today and juiced even more

Not to dog on ya but to use this as example for others who might be selling today
wanderer
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Back in March I sold an uncomfortable amount (for me anyway) of May $15 puts. I ended up rolling these to Aug. As of this morning I should finally be up on them, now the part is to figure out how long this meme spike can last.

I like what FJ said about peeling off any 'overexposure'.
McInnis 03
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ES and NQ are off to the damn races with no buyable pullback yet. A little frustrating but will keep on watch.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
FJ43
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McInnis 03 said:

ES and NQ are off to the damn races with no buyable pullback yet. A little frustrating but will keep on watch.
Can you get someone to drive GOOGL to 2460 for me?
McInnis 03
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Trying to get filled at 4234 here on ES, ok, starting a spot here, long.

Long NQ at 887 too.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
McInnis 03
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AG
NQ is almost 13900, gotta believe if it runs, GOOGL comes with.
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
oldarmy1
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Ok Challenger. I just took a position and sent the stock up easily doing so. Let's see if it comes down the 8 cents I pressed it or not. I'll study it further but wish it had options.
irish pete ag06
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Wow fellas. Wow! Got $20 CCs on CLOV for Jun. We rolling those?!

Been a while. Been trying to study and get better on simplertrading.com.

So, this seems like a major sector rotation happening back into small caps and growth.
Carlo4
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Thank you board. Net free on CLOV and have a few hundred shares to ride it out.

Money I took out will pay for my honeymoon flight in September.
Philip J Fry
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Bought a few hundred shares below 3 yesterday.
FJ43
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oldarmy1 said:

Ok Challenger. I just took a position and sent the stock up easily doing so. Let's see if it comes down the 8 cents I pressed it or not. I'll study it further but wish it had options.
OA is in. Let the games begin!
McInnis 03
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ES and NQ both looking freaking ripe and opening WAY above value-high from yesterday. Trend day.....again???

Remember that it's Tuesday, it's Tuesday, it's Tuesday........
***If this post is on Business and Investing, take it with a grain of salt. I am wrong way more than I am right (but I am less wrong than I used to be) and if you follow me you will be too.***

B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
gigemJTH12
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oldarmy1 said:

Ok Challenger. I just took a position and sent the stock up easily doing so. Let's see if it comes down the 8 cents I pressed it or not. I'll study it further but wish it had options.
this is such a badass flex.

Love ya OA!
Richierich2323
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irish pete ag06 said:

Wow fellas. Wow! Got $20 CCs on CLOV for Jun. We rolling those?!

Been a while. Been trying to study and get better on simplertrading.com.

So, this seems like a major sector rotation happening back into small caps and growth.
Agreed, looks like money is leaving crypto and jumping into growth stocks. It will be interesting to see how this all shakes out.
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