I did what actual people that read can do and looked into the company's financials. It was, and as of now, still looks like a wet dog shit.
They dumped over 35% of their inventory last quarter for a 23% gross profit increase, and almost all of that cash is restricted. A good chunk of their inventory (30+%) is sitting stale, which means they're probably shit houses they're gonna lose money on.
The *only thing* that gives me faith in this company now going somewhere is Rabois coming back. He's a Silicon Valley VC OG; Stanford Law, Founder's Fund, Kholsa. His husband is the undersecretary for economic growth. Insane amounts of tech money and influence are going to float this turd.
TTD is a fucking programmatic OG.
They were around the same time GOOGL and all were building out their ad business. I dont know why they fell out of favor.
If you're in APP though...yes, you deserve to lose money. Fuckers are mooning for no fucking reason.
Guh. Should have stuck with my OG theory that MM's wouldn't let SPY go down on 9/11. Instead I switched to puts like a fool. Classic. Only down 44% so far I guess.
All my buddies thought they were too late at $1.5, $2, $3, $5
We have a new CEO, OG board members coming back, and some celebs buying the stock.
The thesis is this thing goes to $84 with the right execution. If they are half wrong, $42 ...
You decide if thats bullshit or not my friend. God speed.
Some facts about Keith Rabois, the co-founder of Opendoor that just came back to the board yesterday:
- OG PayPal mafioso. Worked on the Stanford Review with David Sachs (current US crypto & AI Czar) and Peter Thiel (shadow mastermind of the US)
- Also affiliated via Harvard Law with Alex Karp (CEO of Palantir) and Keith Howery (co-founder of Founders Fund and current US Ambassador to Denmark)
- His husband (wedding officiated by OpenAI's Sam Altman) is the current Undersecretary of State for Economic Growth, and the two of them were some of 🥭's top donors for his re-election campaign
OPEN's gonna pop not because it deserves it, but because the powers that be will it. Do NOT sit on puts.