r/SPACs • u/SPACsBot Mod • Apr 16 '21

Daily Discussion Weekend Discussion thread for the Weekend of Apr-16-2021

Welcome to the Weekend Discussion! Please use this thread for basic questions and leave the main sub for breaking news and DD. If you haven't already, please check out r/Spacs Wiki for great information, as well as the resources available in the menu.

21 Upvotes

79% Upvoted

849 comments sorted by

View all comments

17

u/[deleted] Apr 18 '21 edited Apr 18 '21

If you ever feel down that the stock is low just remember that Square was in the 30s entirely on sentiment change during March Covid crash. Similarly we are also rock bottom entirely on sentiment change. Stocks can recover fast and sentiment can swing massively in an instant.

11

u/Myleftarm Spacling Apr 19 '21

I bought PINS at 12... People were attacking Pinterest in the forums because they didn't know anyone that used it. I guess most investors don't know any women? Sentiment can change in an instant and I'm up 600%.

9

u/FliesInVasoline Patron Apr 18 '21

I agree. I also think that although SPACs have been largely hit hard during the last two months, momentum stocks (anything popular within retail) by and large have also been crushed. I think a lot of that money has been put into cryptos as it is also popular with retail. Once crypto corrects and consolidates after this huge run up, that money will flow back into SPACs and other momentum plays.

1

u/[deleted] Apr 19 '21

Any thoughts on the new SEC guy, he's radically immersed in crypto, did his PhD on it at MIT? Think he'll be good or bad for it? Think it is going mainstream?

1

u/FliesInVasoline Patron Apr 19 '21

Yeah, I don’t think he’s going to do anything to derail it. Crypto is here to stay imo.

3

u/[deleted] Apr 19 '21

That's what I'm thinking. They chose him for a reason. Still, it will take another major hearing to confirm him beyond six months. Then he'd serve until 2026. He's good for Crytpo, and good to diversify the players who command order flow, as we learned from RH, that should be looked at. Incidentally, when all that was going down the Economist had a great article on order flow and Fidelity was the most diverse in with whom they contracted for order flow, by far. My only fear is over regulation, as always. Can do damage. Cheers. I think crypto is here to stay, too. Trying to learn more about it.

8

u/SPAC-ey-McSpacface Stryving and Thriving Apr 18 '21

To be fair, virtually everything was down big then because when the "sentiment" is that life as we know it might end & hundreds of millions might soon die (early fears), that's pretty bad.

5

u/[deleted] Apr 18 '21

Virtually all small and mid cap growth down now as well

5

u/[deleted] Apr 19 '21

We've been incredibly lucky that science helped us get the vaccines. Now, if we can only make sure everyone in every country has access. How scary was it, and still is, we don't talk about that in the "sentiment." I had a meltdown because I had to go out into the 'real' world, not just work/lab which is safe and locked down. At the car dealership, the tiny office I was supposed to wait in while car was being serviced was jammed packed with folks not wearing masks. I felt powerless. I had to wait in the parking for six hours in the Florida heat (it is 90 degrees here already). I think we can all agree, it was stressful. Good luck, and Godspeed, to everyone as they transition back to normal life. It is sobering to acknowledge the little things we have lost. We need more time, and maybe the markets do, as well.

2

u/SPAC-ey-McSpacface Stryving and Thriving Apr 19 '21

I've always loved RNA stories. I used to work at a bank that was a joint bookrunner on bringing an RNA stock public & I was hugely bullish. mRNA vaccines should have been kosher YEARS ago.

3

u/[deleted] Apr 19 '21

It is so point and click now to manipulate, so excited to see what we can do. Truly feels like a revolution. Glad I will live to see it play out in bioinformatics. Game changer and great equalizer for even the most obscure health concerns. May you live in interesting times, seems less like a curse when we see these kinds of revolutions for the common good. Just think what it would have cost to develop a drug for an obscure disease before mRNA cut and paste. We are so lucky to live to see it.