3 ms·

They specifically said on the earnings call that they are no longer pursuing real money gaming in the United States. Part of the reason why the stock tanked so

by jelled 13y ago

They specifically said on the earnings call that they are no longer pursuing real money gaming in the United States. Part of the reason why the stock tanked so hard in after hours.

rdl 13y ago
Fuck. I had options :( (part of my "buy long positions in evil companies, especially after bad news; people underestimate the profit potential of evil and overestimate meaningful public or government reaction" -- generally works well though.)
- steven777400 13y ago
  I've considered this strategy, but it seems to not be as reliable as one might expect. The obvious example is the BP oil spill. The stock lost half it's value, from about $60 a share to about $30 a share, in two weeks. However, if you didn't time the buy-in just right, you would have bought at around $35 - $40 a share (if you bought either early or late), and today it trades at $43. That's the difficulty with many analysis ideas - they work great in retrospect only, when you can see exactly when the low points are, and can believe "If I had bought on that day, I would have made a mint." But from day-to-day, determining "that day" is virtually impossible.
  - rdl 13y ago
    Yeah, I got into BP at 28x100, 30x200, 32x400 and got out at 45 (half each time it hit that) -- this was before I started playing with options instead. I intended to buy more on the way down. I was also planning to hold it indefinitely but needed the cash to buy other stuff (it's all in a Roth, so it's hard for me to put cash in.) In general, though, it's not about "buying on news", it's "buying sinful industries in general, but particularly on bad news/dips" -- defense, oil/coal, alcohol, etc. The other model I've used which has been far more effectively (and less disgusting morally) is "buy products I know a lot about and really like, as long as the company itself doesn't have serious financial or leadership problems"; TSLA, MSA (they make the world's best body armor, which I loved in Iraq, Paraclete), various arms manufacturers, etc.
    - jlgaddis 13y ago
      > "buying sinful industries in general, but particularly on bad news/dips" Interesting model; haven't ever thought about it like that.
dakrisht 13y ago
Exactly. They "gave up" on real money gaming. Not happening and won't save them.

by jelled 13y ago

They specifically said on the earnings call that they are no longer pursuing real money gaming in the United States. Part of the reason why the stock tanked so hard in after hours.

rdl 13y ago

Fuck. I had options :( (part of my "buy long positions in evil companies, especially after bad news; people underestimate the profit potential of evil and overestimate meaningful public or government reaction" -- generally works well though.)

steven777400 13y ago
I've considered this strategy, but it seems to not be as reliable as one might expect. The obvious example is the BP oil spill. The stock lost half it's value, from about $60 a share to about $30 a share, in two weeks. However, if you didn't time the buy-in just right, you would have bought at around $35 - $40 a share (if you bought either early or late), and today it trades at $43. That's the difficulty with many analysis ideas - they work great in retrospect only, when you can see exactly when the low points are, and can believe "If I had bought on that day, I would have made a mint." But from day-to-day, determining "that day" is virtually impossible.
- rdl 13y ago
  Yeah, I got into BP at 28x100, 30x200, 32x400 and got out at 45 (half each time it hit that) -- this was before I started playing with options instead. I intended to buy more on the way down. I was also planning to hold it indefinitely but needed the cash to buy other stuff (it's all in a Roth, so it's hard for me to put cash in.) In general, though, it's not about "buying on news", it's "buying sinful industries in general, but particularly on bad news/dips" -- defense, oil/coal, alcohol, etc. The other model I've used which has been far more effectively (and less disgusting morally) is "buy products I know a lot about and really like, as long as the company itself doesn't have serious financial or leadership problems"; TSLA, MSA (they make the world's best body armor, which I loved in Iraq, Paraclete), various arms manufacturers, etc.
  - jlgaddis 13y ago
    > "buying sinful industries in general, but particularly on bad news/dips" Interesting model; haven't ever thought about it like that.

dakrisht 13y ago

Exactly. They "gave up" on real money gaming. Not happening and won't save them.