Take out a second mortgage on your parents home imo.
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Google it. Basically they raise money with the intention of merging with an existing company.
And yes in this environment a company with the ticker LMAO has a chance to boom. I also think it may be a decent investment as they have at least the 105m in cash on hand and a market cap of only 44m. I’m no finance expert but that doesn’t make sense to me.
Wait are we on LMAO or LMFA?
As I understand it we are on LMFA, which is soon going to become LMAO? Right?
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LMAO is what LMFA is going to be listed as on nasdaq shortly.
Do we know the timeframe? Because I give this current environment like another week tops before this shit collapses everywhere.
Hmm LMAO seems to already exist although I don’t see it on RH.
Does this mean our LMFA is not automatically converting to LMAO?
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Basically, it’s a holding company that exists solely for the purpose of raising funds in order to buy another company, often a private company that wants to go public without an IPO. It buys the target company and then changes its name (and related ticker) to that company. They are all the rage now - there have been a few SPAC deals in the US online gaming space in the last few months. It’s how DraftKings went public - it got bought by a SPAC, which then change it’s name to DraftKings.
SPACs are often created by the people who own the target company, as well. For instance, Golden Nugget Online Gaming recently went public by getting bought by a SPAC. Wasn’t a coincidence that the SPAC was founded and controlled by Tilman Fertitta.
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Ok I’m in for $500 on LMFA.
Covid has seriously fucked with me. I can’t even count the number of times I’ve lectured friends that day trading and timing the market is a suckers bet. Yet here we are.
Gambooooooooool?
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I read that article too. I am still not sure.
I mean, I’m treating this like I took a trip to the casino and I’m playing some craps, not like I am making a smart reasoned investment in my future.
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Me too. Very much so.
So if LMAO (which we can’t buy because it’s some kind of class a common stock or whatever that means) moons, does that mean LMFA goes with it because they are related somehow?
Interesting. My understanding was that it was well known that GME was a popular short by hedge fund managers and some sub Reddit group thought hey, let’s fuck them and drive the price up. The higher the price goes up, the more money these funds have to come up with to cover their loss, which only drove the price up higher requiring the bigger funds to come up with more money, and so on down the chain. I read that most who started this weren’t doing it for the money, but I could be wrong. I mean, GME was at $4 in August? While it wasn’t formerly organized, they used some pretty sophisticated option strategies as well.
Anyway, I love it! Anything that gets back at Wall Street for years of their inside trading and pilfering from government bail outs is a good thing in my mind
SWINGS
I just put $400 in CLVS.
Are we printing up group t-shirts?
I for one am glad Smart Stock Man has arrived to explain things to the plebs
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