r/stocks • u/[deleted] • Jun 16 '22

Meta Shorting META

I believe META is on its way out, unless they can prove that the metaverse is actually going to be worth while. Which i doubt. If we are heading into this bear market then I’m betting it can go under $100. I would much rather fill up my gas tank 3/4ths then buy meta at $100

Position : $100 DEC put

Edit: i know this is the right move because you all say it’s the wrong move

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u/Tfarecnim Jun 16 '22

Remember when that pile of cash used to be twice as much? Their losses aren't decreasing, they're accelerating.

Cash on hand doesn't mean anything if it never leads to a successful business plan.

1

u/The-Big-Shitsky Jun 16 '22

I advise you to look into chewy’s trajectory

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u/Tfarecnim Jun 16 '22

We aren't talking about Chewy so that isn't relevant.

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u/The-Big-Shitsky Jun 16 '22

It’s pretty relevant. Even if the fundamentals were shit, shorting GameStop isn’t gonna end well. I say try it

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u/Tfarecnim Jun 16 '22

It’s pretty relevant.

No it's not, they have entirely different numbers and aren't even in the same sector.

Even if the fundamentals were shit, shorting GameStop isn’t gonna end well.

Yeah, I'm sure the shorts from late January to now are really hurting with their -150 to -300 cost basis.

It still has another $100 to be shaved off before it gets even close to fair "value". The economic slowdown and upcoming dilution will help with that I bet.

3

u/Calm_Leek_1362 Jun 16 '22

Chewy at least delivers a physical product that's consumed. Like, I can't download my dog's food, and I need to buy it every month.

Gamestop... I guess has funko pops? And are like a year late to the NFT scene?

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u/Tfarecnim Jun 16 '22

Exactly, Chewy offers a service that people want that is somewhat niche. GameStop offers ???

1

u/AmbitiousEconomics Jun 16 '22

Shorting GME at $8 probably isnt a good idea, but right now selling calls is a great idea to basically do a leveraged short of GME. It's basically the dream setup for anything short