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NEGG’s cheap paper. Don’t get fucking played

**Final Edit Monday 5pm est:** [Official Nasdaq short interest info](https://www.nasdaqtrader.com/Trader.aspx?id=ShortInterest) **shows short interest decreasing. This was all a misinformation scam. Everybody getting played.**

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You’re a genius for making 10,000% on 20c for NEGG. Congrats, happy for you. Jealous af.

Now, to the others: **don’t fucking buy in after it spikes 500% in a week**. 1) You’ll lose on stocks when it sells off. 2) You’ll lose on calls even if it goes your way because they’re way too expensive. 3) You’ll probably even lose on puts when IV crushes.

Obviously – **OBVIOUSLY** – this was organized by some funds who were bag holders and found some willing buyers at 30x it’s normal price (spoiler: >! you !<) after squeezing out the shorts for several days til it hit market cap req for WSB. Solid move, super impressive.

For you apes – don’t bag hold for whoever owns this stock – which by the way nobody even knows because there aren’t even records. Sketchy AF.

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[who knows who’s running this shit](https://preview.redd.it/icaajbraoua71.png?width=1560&format=png&auto=webp&s=a1bedc7c26a0bb1d11f722c72dea20de20a5f566)

Let’s be clear: there’s no reason for this company to be worth enough to even belong on this sub. This stock is now worth **$22 billion.** That’s the same price as **Deutche Bank**, **Toyota, Delta,** and a bunch of other companies that earn a lot more than **$5.74million per year** reselling computer parts (news this morning is they’ll assemble it for you, wow)

Here’s a box for the reading impaired.

**This is NEGG.**

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[NEGG’s shit ‘earnings’](https://preview.redd.it/60h5x9ldoua71.png?width=1436&format=png&auto=webp&s=1e84a41916bb29e56143aa89cce2996c98517e0f)

**This is Deutche Bank**. Do you see the difference? 1 has an ‘M’ and 1 has a ‘B’ under income.

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[DB’s earnings](https://preview.redd.it/yezrvlahoua71.png?width=1412&format=png&auto=webp&s=15d3b286fefc84b6e0be7f9638a7f47bb1c2492c)

Don’t 👏 buy 👏 worthless 👏 paper. Cheers

Edit2: no, $60 is not a catch. no, $40 is not a catch. a catch is you paying me to have this junk in my portfolio

Edit3: gets better, dude in comments says 2 people own this company: Zhitao He and Fred Chang. Apparently they literally say right in the filing that these two have full control to dilute whenever they want

Edit4: to be fair, I was contacted and told that correct quarterly income is appx. $7.5mil, not $5.5mil (tho I don’t see a difference personally) and that NEGG was eligible for wsb before the last couple of days

What do you think?

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43 Comments

  1. Agreed. I bought a put right before trading halted and sold when it dipped and got 29% return. I cannot justify any option with how high IV is. This is going to have to run up and then fall really hard and trade sideways for a little bit before buying puts would make sense.

  2. Hahaha that net profit margin, unreal.

    How could anyone think a company with no product ownership, no IP / technology development, no differentiation, and no monopoly on distribution should be worth an MC of 1000x its net income.

    Can’t even calculate P/E, because there’s like no data on 12 month trailing EPS.

  3. The only reason it is up is because over 98% of shares are locked up since may for 6 months. More and more traders are discovering it with every pump. It does not take much to break through the sell walls, which then causes various twitter pumpers, stocktwits idiots etc discover it, making it pump even more

    Fair valuation is about 880mn. Not 22 billion. Its been massively overvalued since the merge occured.

  4. I made nearly 30k on it over the past week. I saw it spike last week and bought a 20 x $20c exp 07-16-21 for $3 premium and a few hundred shares. Added some more this AM but I sold too early though, could’ve cleared 100k with better timing.

    I still have 150 shares but am mostly out now. I didnt have any conviction on it bc there was no news and I didn’t want to get stuck bagholding like I did with TLRY. I didn’t realize about the market cap being why it wasn’t on WSB, oh well, onwards and upwards.

    Current share price is well past highest strikes, no chance of gamma? You think MM adds a bunch of new strikes tmrw?

  5. People need to realize WSB is not a place to find stocks to gamble or invest in. People congregate here to post gain/loss porn and the occasional primate posts some dogshit DD which people dont even read or confirm themselves they just see a stock symbol and 15k upvotes and head over to their app and YOLO shares then post their -86% loss the following week. Ive been watching it happen constantly the past few months with shit like PLTR, CLOV, and now soon to be NEGG.

  6. I made 500% gains on this cheap paper and ran with the money. I don’t want to think I am the type to sell on a liftoff but I knew I had to for this. Glad I exited yesterday.

    Now that I’ve said this it will lift off another 3000% and I will kill myself.

  7. Literally wondering if NEGG would show up in here. It’s definitely a P&D at that price. The party is indeed over, just stand outside and watch the place burn to the ground tomorrow. It’s on my watch list for the lulz and maybe i’ll watch the ST feed as people lose their shirts listening to the pumpers.

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