Wallstreetbets

Two months ago we wrote a blog about certain AI SPAC and IPO listings. Bullfrog AI Holdings, Inc. (BFRG), Presto Automation Inc. (PRST) and CXApp Inc. (CXAI). We suggested to buy their warrants, listed as BFRGW, PRSTW and CXAIW respectively. BFRG and BFRGW haven't done much since then. CXAI has been about flat, but CXAIW has gone on a great run from $0.14 to $0.55, resulting in substantial profits for buyers two months ago.  As profits have already been taken on CXAIW and BFRG is quiet right now, what we want to focus on at this time is PRST and PRSTW. Despite the stock steadily moving up to $4.70 in two months, the warrants have remained in the $0.10 range. They expire in September 2027 so there is plenty of time left on them. These warrants have a strike price of $8.21 and it takes two warrants to exercise for one share. So for instance, if the stock price moves to $18.21, the warrants aren't worth $10, but $5. The warrants also have an early redemption call price of $...

Heavily shorted Carvana Co. (CVNA) is in the middle of a squeeze. One that looks eerily similar to the beginnings of the one we saw on GME that eventually made it run to $400 and took down Melvin Capital. Once again certain market players or commentators who focus on fundamentals and who misunderstand or downplay the short squeeze thesis will only add fuel to the fire as they short the stock. Will Carvana be able to refinance its debts next year? Will it become profitable by then? Who knows, and who cares. 2024 isn't the timeline here. The timeline starts as early as June 16, 2023. Triple witching day on options. This time Kerrisdale Capital is the target. The firm is in a desperate spot because the last short call it made was C3.ai, Inc. (AI). AI is in the middle of its own short squeeze and has nearly doubled into $40's since Kerrisdale tried taking it down: The AI report is still featured alongside on the CVNA one on Kerrisdale's website , so we can assume this position ...

Heavily shorted Carvana Co. (CVNA) is in the middle of a squeeze. One that looks eerily similar to the beginnings of the one we saw on GME that eventually made it run to $400 and took down Melvin Capital. Once again certain market players or commentators who focus on fundamentals and who misunderstand or downplay the short squeeze thesis will only add fuel to the fire as they short the stock. Will Carvana be able to refinance its debts next year? Will it become profitable by then? Who knows, and who cares. 2024 isn't the timeline here. The timeline starts as early as June 16, 2023. Triple witching day on options. The first thing to make note of is the general market. High beta and highly shorted listings (not in terms of percent of float, but in terms of number of shorts outstanding) like QQQ, TSLA and AMZN are hitting year or multi-month highs. This is causing pain and margin call pressure to shorts. This is important because the entities that are likely to short CVNA would also b...