Lovely, seeing multiple sources report war may be breaking out. Lebanon/ Israel/ Iran
$148M of their $200M loss was due to accounting adjustment to FMVgiddings_ag_06 said:
Looks like MARA's earnings weren't good and lots of misses. Flat after hours. Bitcoin is so weird.
New FASB guidance on accounting for crypto assets | Deloitte USQuote:
Previous accounting for crypto assets required impairment losses for decreases in fair value but prohibited "writing up" crypto assets and recognizing gains for increases in fair value. This treatment prevented certain institutional investors from investing in the asset class. We expect the new standard to make investing in certain crypto assets more appealing to entities that prepare GAAP financial statements, given the accounting will better reflect the underlying economics of the crypto investments.
Calendar year-end companies will have one year after the final rules are released to prepare to implement them for fiscal years beginning after December 15, 2024. However, a company can voluntarily early adopt the new guidance in any interim or annual period for which financial statements have not been issued (such adoption is required to be reflected as of the beginning of the fiscal year).
Don't stress over INTC laying off people or axing their dividend. They should've done that a longtime ago. That company has been hot garbage for quite awhile. Everyone is more surprised it took them this long to make the decision that they should've made a few years ago. That said, other solid companies making cuts is not to be discounted. Economy is slowing down.TheVarian said:
Looks like it's about to get worse too
https://www.nationalreview.com/corner/intel-cuts-15000-jobs-more-than-it-expected-to-add-with-chips-act-funding/
I find that more depressing instead of humorous. He was gambling (guessing) with money that he never earned and betrayed the person who worked for it and believed in him. I doubt he could tell you anything of significance about INTC other than that they make microchips and their stock symbol. He didn't have to work for that gracious gift from his grandma and his arrogance flushed her trust down the toilet. I have zero doubt that he didn't learn a damned thing and will trade that gift to zero and then say 'WTF, it's all rigged'. He's only shown the world that his an ungrateful ****ing idiot. His dad should beat the **** out of him, imo.hedge said:A junior in college on Wall Street Bets today bought $700K of $INTC Intel at $30 a share with their Grandmother’s inheritance money.
— amit (@amitisinvesting) August 1, 2024
He’s down $150K after hours on $INTC falling 20%. pic.twitter.com/dXoFbptDZo
Grandma ain't too happy I reckon
ProgN said:I find that more depressing instead of humorous. He was gambling (guessing) with money that he never earned and betrayed the person who worked for it and believed in him. I doubt he could tell you anything of significance about INTC other than that they make microchips and their stock symbol. He didn't have to work for that gracious gift from his grandma and his arrogance flushed her trust down the toilet. I have zero doubt that he didn't learn a damned thing and will trade that gift to zero and then say 'WTF, it's all rigged'. He's only shown the world that his an ungrateful ****ing idiot. His dad should beat the **** out of him, imo.hedge said:A junior in college on Wall Street Bets today bought $700K of $INTC Intel at $30 a share with their Grandmother’s inheritance money.
— amit (@amitisinvesting) August 1, 2024
He’s down $150K after hours on $INTC falling 20%. pic.twitter.com/dXoFbptDZo
Grandma ain't too happy I reckon
i haven't read anything the kid posted on WSB, but, i would say most of your assumptions here are a bit unfair.ProgN said:I find that more depressing instead of humorous. He was gambling (guessing) with money that he never earned and betrayed the person who worked for it and believed in him. I doubt he could tell you anything of significance about INTC other than that they make microchips and their stock symbol. He didn't have to work for that gracious gift from his grandma and his arrogance flushed her trust down the toilet. I have zero doubt that he didn't learn a damned thing and will trade that gift to zero and then say 'WTF, it's all rigged'. He's only shown the world that his an ungrateful ****ing idiot. His dad should beat the **** out of him, imo.hedge said:A junior in college on Wall Street Bets today bought $700K of $INTC Intel at $30 a share with their Grandmother’s inheritance money.
— amit (@amitisinvesting) August 1, 2024
He’s down $150K after hours on $INTC falling 20%. pic.twitter.com/dXoFbptDZo
Grandma ain't too happy I reckon
Maybe not a bad strategy, but I will caution that that was in the early stages in an uptrend and this is coming off a major high. Different environments.Brewmaster said:
I wanted 5300, we made it close enough, I will start buying some stuff today.
look at last year in August, we had a decent bounce off the 100 day. but continued to sell after the bounce.
I'm banking some of my gains on TNA, QQQ and SOXL puts today. About the only green spots in the portfolio, however.Brian Earl Spilner said:
Sold a decent chunk of BRK-B, rotated into TNA and SOXQ.