My thoughts are this. With the entire world shutdown and zero revenue it bottomed at 68 a share. The stuff with China is still just "we plan to do this". It hasn't actually happened yet. LAs Vegas plus all the online betting they are running in the US tells me the share value is good in this range. I think this is oversold based on people just selling it.
Don't get me wrong. I am not selling. Just disappointed it gave up this pivot around $80. I only have about 250 shares from $83. Plan is to add another 500 if we get to $70'ish. My time horizon is retirement, as this trade is in my 401k.
Remember the guy on CNBC yesterday that said a PT of $40? The traders are Halftime said his assumptions were horrible. Something about how he assumed a 25% drop in US revenues and 0 revenues in China. Farmer Jim actually said it looked like he had a PT in mind and then forced his assumptions to fit the argument. Farmer Jim pretty much said at this point we'll have to wait for the next earnings report to come in.
Yeah i have a running limit order to pop and grab more if it somehow hits 70. We say a few weeks ago what the stock want to do. I am comfortable holding it with an $88 cost basis especially since it fills a hole in my portfolio (Consumer Discretionary).
VTSAX is the total market fund in admiral class offered by vanguard fund.
I made sure my company offered at least one low cost SP500 index for employees. I chose the VFIAX. It is hard to fund something offered that is more employee friendly than that Admiral fund.
The powers that be (CCP and various investment banks with insane exposure) were not going to let it go belly up.
