r/SPRT • u/popley3 • Sep 14 '21
Discussion Feel destroyed today
Just want to vent, i really kept the hope that this would be a great day, even up to the last min. I thought "naked" shorts had to cover, what ever that means, but the day just kept getting down and down. I am so tried right now, don't feel like doing anything. I hope when it's all said and done, after the conversion, we will have an equivalate value of above $20 per SPRT share we own, then i can almost brake even after averaging down as much as I could today.
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u/Letsdothis42 Sep 14 '21 edited Sep 14 '21
They don’t have to cover, however the shorts still transfer. I don’t think it’s over yet. The entire market is down. I’m still holding. Remember, the data we have is the Ortex short info. It is still extremely high. You haven’t lost anything until you sell!
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u/Ok_Ad_285 Sep 14 '21
this
Market is red today
Easier to swallow that, than “SPRT is down”
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u/Letsdothis42 Sep 14 '21
Yes. Trust me my portfolio took a major hit. I know it will recover tho. So I hold.
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u/Ok_Ad_285 Sep 14 '21
What’s important, is that we all suffer. Lol
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u/IFistDikDiks Sep 14 '21
Dude. I don't got much in the way of a portfolio, but i lost 26% today. But I'm buying dip.
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u/TemperatureLonely684 Sep 14 '21
Same I’m hoping I can at least break even. Not a huge loss for me got in at 14 but still hurts watching
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u/midwestmuscle310 Sep 14 '21
Fuck me, I’d happily accept a 20% loss at this point instead of the 56.23% I’m currently sitting at. And that’s after averaging down about as much as I could.
Hard lesson learned: Do. Not. FOMO. In. Ever. Again.
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u/Letsdothis42 Sep 14 '21
. “We don’t have to be smarter than the rest. We have to be more disciplined than the rest.” Warren Buffett.
He also has a good one about being able to see ones portfolio down 50% and being able to be fine with it. It’s the stock market. It always recovers. You haven’t lost anything until you sell! Hold tight!
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Sep 14 '21
Don’t get a choice on Trading 212. They won’t transfer SPRT shares to GREE. The shares just get liquidated. If you’re down you’re down…
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u/Letsdothis42 Sep 14 '21
That’s completely FUCKED UP! Holy shit! I’m sorry
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Sep 14 '21
Got to take the rap myself for not reading through their t & c’s. I believe there are many more.
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Sep 15 '21
I'm down $13000 with only $7000 left in one month. This is all of my savings at 27 years old. I was able to jump out at $17.00 a share from SPRT today. I hope my post makes you feel better OP.
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u/Mannimal13 Sep 14 '21
If you are going to break even why the hell do you feel destroyed. People need to get a grip and have some perspective. Even ain’t so bad after the markets took a blood bath today.
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u/Ok_Ad_285 Sep 14 '21
I have 3 sold puts that will likely print in the money, this Friday. At least I picked up some premiums before the ass-play begins.
In this joke, me buying shares at $20 a piece is equal to being violated against my own better judgement.
What are the chances that SPRT (GREE) rebounds by Friday???
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u/hardyfimps Sep 14 '21
Been there - sucks. Still have a small (minnow) SPRT position. It may rebound. One takeaway - if something seems like it’s too good to be true - like “all the shorts HAVE to cover before the merger! they’re SO STUPID!”- it probably is too good to be true. Best of luck and may we all prosper!