You guys chasing LK too? Its going nuts so I wonder what's up?

[Gaslight Capital]

I have no idea why anyone would invest in a Chinese company.

China buying back all the shares is my guess.

 

[JesseJamesFinn1]

my son has a $500 account he was saving to buy a new gaming computer, sold his contracts I bought at $.30 for $1.00(he's going to be happy)

China buying back all the shares is my guess.

No Idea, I tried to sell all my shares at $1.10 AON(stupid error) on 300, not only stuck with a few.

 

[KCalhoun]

May I ask you, what is so attractive for this LK. For example I was trading MARK $1 to $2 plus. The same s..ty
stock. Why this LK Chinese so attractive?

Because it was going up a lot today. Prehalt weeks ago it was 20/share

 

[JesseJamesFinn1]

LK can be a trading lesson.

At $1.50 one could have bought it like an option, but with no expiration date. IOW... if LK ever gets resolved favorably, you'd be in on the recovery. If not and it goes to zero, no diff than a call option that expired on you.

At $4, same... just more to risk.

(I recall MiniScribe... a HDD maker started by a couple of ex-IBM engineers. Mini slopped around for a few years. Made a good drive (I had one), but never got big traction in the marketplace. Price dropped to 5/16 at the low. Later, after reorganization.... eventually traded at $80+. Buying it at $.31 would have been like a "call option with no expiration date".)

Its how those guys on Wall Street Bets make bank or lose their ass.

 

[Scataphagos]

Its how those guys on Wall Street Bets make bank or lose their ass.

Not really a "possibly lose your ass" bet. It's more of a "controlled risk" bet. If it goes up big, you're in on it. If it goes to dust, you're only out $.31. That's the kind of risk all of us should be looking for and taking when we find it.

And you don't have to bet the ranch on something like that.... but if you do and get away with it... KUDOS!

You can buy a WHOLE LOT OF EXPOSURE @ $.31, without risking everything.

(I recall looking up Mini in the stock tables while having breakfast at the bowling alley coffee shop. Mini was a local company... and I thought for sure, it was "going to zero" after watching it fall all those months. But then it didn't go bust... started to climb... and I lamented I didn't have the balls to pick some up when it was its cheapist. In my defense, I didn't really have any money then*... just noted it because it was local.)

* Yeah, I could have afforded 100 shares for $31... or 1,000 shares for $310... or 10,000 shares, etc. You can see where I'm going with this, right? Reminds me of the 1st time I ever put $10,000 together. I bought a cool BMW (had always wanted one). Too bad I didn't buy MSFT stock at the time instead... could have later been able to afford to buy a BMW DEALERSHIP!!

 

[JesseJamesFinn1]

Not really a "possibly lose your ass" bet. It's more of a "controlled risk" bet. If it goes up big, you're in on it. If it goes to dust, you're only out $.31. That's the kind of risk all of us should be looking for and taking when we find it.

And you don't have to bet the ranch on something like that.... but if you do and get away with it... KUDOS!

You can buy a WHOLE LOT OF EXPOSURE @ $.31, without risking everything.

Exactly, my son asked me to invest $500 his grandma gave him to work on buying a gaming computer. I've have not told him I bought 15 Calls at $.30 and sold them at $.90. I see a new Mind Craft with lots of gadgets. I risked his account because I would sneak the money back from one of my brokerage accounts if lost.


Edited: To add, not a huge risk and lots of "Oh my gosh, your the greatest"!

 

[JesseJamesFinn1]

Because it was going up a lot today. Prehalt weeks ago it was 20/share

Ken did you trade any more or avoid because it went crazy like GNUS?

 

[Gaslight Capital]

LK was not on the list yesterday, but Robinhood traders putting their stimulus funds to use today hoarding that coffee as it has made an appearance at #7:

https://robintrack.net/popularity_changes?hoursAgo=24&relative=false&changeType=increases

 

[ironchef]

I don't care sht about the company or news, I just trade it to try and make money.

Most of daytrading I've done I don't know or care even what the name of the company is, much less news.

All I care about is making money trading price action. I'm a trader not an investor. ( mic drop lol)

I think @JesseJamesFinn1 was just asking you if LK was tradable (day, swing..), gave you a great compliment and ask for your insights on how you trade it.

Have a nice day.

 

[JesseJamesFinn1]

I bet WSB is behind this too, just a hunch! I use to trade NIO everyday but got sick of the Short Sellers blasting it into the ground.. During the Crash it fell down to $1, now all the StockTwitters preach its the next TSLA. As Traders we love to sell hope(only when others are soaked in it).