Jul. 15 at 11:38 AM
$UWMC I get it:
Many SPACs from around the pandemic have been shorted to zero, or close to it.
$NKLA $WEWKQ $NRDE etc. So, you have shorted, thinking that it is only a matter of time that this, and perhaps other holdouts (like
$HYLN) go to zero also.
Well, overall, that might be a sound strategy if you divided your short bets among many different SPACs, and cut your losses where appropriate. However, if you continually fail to do your DD, and just bet that the rest are going to fail because they were SPACs once, you're lazy and deserve to lose all of the money you're about to lose.
Sorry. I like to see retail make money, but if you're so lazy as to think that "some sources" have any credible notion about an OVER 80% chance of BK, and you have bet accordingly without facts or DD, well... Forrest Gump's mama said it best. (LOL, no! Not about the box of chocolates... Jesus. The part about "stupid is as stupid does.")