Phil Alderson
@notwellfunded
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"The greatest enemy of knowledge is not ignorance. It is the illusion of knowledge." - Stephen Hawking
Joined October 2022
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CS finally reporting my closure of my $BBBYQ short position as realized gains.
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$BBBYQ I was approved to close of my Bed Bath position at $0. I’m making no judgement on what this might mean for YOUR long or short position. I wish good fortune to all, but for me and my BBBYQ position…..
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@OptimisticThom
I understand that, they’ve been through a lot so denial and anger is a natural response. I take no offense because I’ve been in their shoes.
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For those who asked below is my $BBBYQ info from my short positions on my 1099, OR if you're inclined to believe otherwise, my latest photoshop masterpiece.
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@RaemenSoups
Damn I’m short NBH and people like Just a Rat almost make me want the bulls to be right
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@ThePPseedsShow
Hey PP. There is an element of entertainment to it. However, the main reason for listening to BBBYq spaces and your show is for continuous learning. I’ve done numerous bk plays but never one with retail interest like BBBYq. I want to understand how retail impacts bk plays.
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@Daniel44450872
@HilsonValli
@AJCosta17
@PlatnumSparkles
@Tiggersdad2
@thatgirltrader
@John_Hempton
@pirateportfo
@okbet9545
@ChrisTayeh
@Fidelity
Here you go Daniel. Two pages from my Schwab October statement. One shows the realized gain the other shows the "deemed worthless" transaction. It would have been a very bad month for me if not for $BBBYQ.
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$BBBYQ $BBBY some folks asked that I share the actual 1099-B pages and not the summary pages. Here you go....
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@Daniel44450872
@CharlesSchwab
Hey Daniel, every thing is backward when you sell short. I sold first (at .22 average price) and then bought back later at 0. In this case since the stock was delisted, the “buy” was actually when CS declared it worthless and scraped it from my account.
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@pulte
Naked shorts (no legitimate locate & borrow) are illegal and should continue to be regulated out of the market. Legitimate shorting with locate & borrow, as well as puts are valuable tools for retail investors.
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@JeffSamson51
I was in Jack and Drew’s space for hours today and they treated me well and I’m short and not a MMTLP bull. Disappointed that this space didn’t afford him the same courtesy.
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@DanielDiettmann
Hey Daniel, no I have other realized gains and losses during the period. I’m just showing the BBBYq cusip in my report.
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CS is finally showing BBBYQ at $0. I expect an auto/courtesy close to happen next but will wait and see.
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@Bravesnail123
@DanielDiettmann
My MMTLP is still an active position. It has not been declared worthless like BBBYQ.
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@headunituk
Update….per my Schwab guy I cannot courtesy close BBBYQ at $0 as of today. They owe me another update on my courtesy close request tomorrow. I expect to be able to soon, time will tell.
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For those interested in bankruptcy plays, this is a good example from an active bankruptcy case of what it looks like when residual equity might have some value. It's not a guarantee but old equity has a chance here.
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@Raoccokb
Hey Za, the $0 cost basis entries you see are the ones where I held to 0. When you short sale, the price you close your position at is the "cost basis". The "proceeds" are the opening of the short position. Sale first (proceeds), then buy (cost basis).
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@RedHeelzz
@BudFry65
Every retail trader I know with a short position in Nextbridge supports this position
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@jteta12
Hey James, no shorting gains are almost always short- term gains, regardless of how long you hold the short position. I'll pay a 3rd of those $BBBYQ short gains in taxes. The "shorting gains are tax free" thing is a myth, at least for retail shorts. Can't speak to institutions.
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Interesting to me that per the final S1, MMAT could have thrown the challenge flag and halted the spin off to Nextbridge, including during the 2 days of the trading halt and all the way up the Distribution date (14th). They chose not to intervene. Thoughts?
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@_TraderZero_
@dallas_ak
@JohnnyTabacco
Thanks TZ….as usual very good perspective. As a “stuck” short on MMTLP I can confirm my treatment by my broker (Schwab) is exactly as you have described.
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@Broncho24
@Curtis5633
@Outlier_999
It appears that he alone created some very significant downward pressure on the stock those last few days.
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Still stuck short with NBHC obligation and the cash from the short sale, but now I’m thinking that I should have gotten a tax credit given the tax treatment as described in the S1. Ok maybe that is too optimistic.
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The answer to the preferred stock question from this mornings' space. Per the NBH 424B, it appears NBH has unilateral discretion and shareholder input is not required.
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@suckmy_dk
@AMCApes2021
@warkoy
I've been listening the BBBYQ community today and have heard that shares have disappeared completely on RH and TDA. They have NOT disappeared in CS so no change here. Once/if they disappear, I'll see if I can get courtesy close or if they just force close me.
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@BurrbQ
@RaemenSoups
I like Soups space when we actually “talk” stocks….i check out when it degrades to yelling insults
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@GandalfWizz
No worries...let me know if you need anything else. Long or short, the market should determine the value.
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@creek70826
Thank you. Civility matters and many in the BBBYq community were civil to me as well. Some are just way to emotionally invested to tolerate opposing views, but it's been a long hard row for them, so I try to offer grace whenever possible.
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@sboho
It is encouraging to see that investors of BBBY are now understanding how poor of a job management was doing in the years leading up to liquidation.
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@bigbosskillaGME
Yeah....one of the reasons I like to be able to short as a retail investor is it allows me to "vote" against and invest against bad management. Could not have done it much worse that Tritton did....
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@RobertM15746001
@OptimisticThom
Hey Doug, I’m just providing my info for review and consideration. If and how that info is accepted is beyond my control. As for the attacks, it’s social media so you should expect attacks if you post almost anything. All is good….
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@dallas_ak
@_TraderZero_
@JohnnyTabacco
Hey AK -Dallas. Can confirm still no interest charged since Dec 22. Still showing -1500 shares at $0 per share in my brokerage account. No communication from Schwab on MMTLP/Nextbridge in probably six months.
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@Chapter11Cases
@sboho
@MindandEmotion7
@matt_levine
Randall….thanks I appreciate your perspective. I THOUGHT I had a decent understanding of bankruptcy proceedings, but clearly there is much more to learn.
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@Daniel44450872
@HilsonValli
@PlatnumSparkles
@Tiggersdad2
@thatgirltrader
@John_Hempton
@pirateportfo
@okbet9545
@ChrisTayeh
@Fidelity
Hey Daniel…I think your screen shot and mine pretty much tell the same story. Your long position of 1677 shares was zeroed out on 10/18 with a -1677 credit entry. Same thing with my -70k share short position, was zeroed out with a 70k debit of shares.
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@JunkSavvy
I don’t really see a downside of the lawsuit for investors….bullish or bearish discovery would provide potential clarity.
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Salvatore vs the insolvency lawyer
Hey
@BradSandler
Bradford J. Sandler of Pachulski Stang Ziehl & Jones, please take the time to exercise some thought and due diligence before responding to retail investors via e-mail.
You've incorrectly quoted numbers here, the second picture is the ACTUAL figures from the
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@Bravesnail123
@CharlesSchwab
Hey Bravesnail…I believe the judges final decree (chronologically) is the approved bankruptcy plan which cancelled the shares, hence shorts and longs being closed out. If something unexpected does change I’ll be due a tax refund at least 😀
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@JunkSavvy
@Stef_carpedm
I’m surprised this wasn’t being used by the community for their congressional engagements.
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@AC_John123
Thanks AC_John. My intent is not to spike the football on anybody in the $BBBYQ community, just sharing what my experience was so everybody has a fuller picture.
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@AbbyKadebby
I’m evidence of one retail short at one broker. Unfortunately I’ve have not found a single other retail short.
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@Rua10941190
Hey Rua, yes I have redeployed the gains from the $BBBYQ short into the market on other investment opportunities. Let me know if you have other questions and good fortune to you in the market!
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@PhantomBlack699
Hey Sal….yeah I just can’t quit you guys, you’re all too interesting. Congrats to the community on the event last night. I bought $BYON the morning after
@marcuslemonis
was on your space call and it’s up 63%. Thanks for hosting that conversation. Take care.
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@houndlover67
@Botmantrade
@PhantomBlack699
@marcuslemonis
Hey Lisa….I really did. I’ve posted screen shots of my realized gains on the $BBBYQ short position mutiple times. You can check my thread. I can post the $BYON long position if you care to see it. Take care.
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@ToBeFrankfrank
@ChrisWenzel13
@ThePPseedsShow
Hey Frank, shorting bankruptcy plays is anything but free money. A whole lot can go wrong. In the $BBBYQ case the interest rate got quite expensive in July and August. Here is the interest I paid on my last 70k share short position I placed after bankruptcy was declared.
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@Tiggersdad2
You have a responsibility to keep markets efficient. If that means being the counterparty to someone making a bad trade…..well do your job!
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$MMTLP Press releases regarding MMAT corporate actions from December 7th and then December 8th (presumably after reconciliation with FINRA). Is there a meaningful difference?
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@raymorejayhawk
@SemiCynic
@HamDogJones
@ThePPseedsShow
It wasn’t a trade, just an auto/courtesy close since the ticker is cancelled and has no future value per the company.
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@Tiggersdad2
From your mouth to God’s ears! When the market offers this kind of inefficiency it is our responsibility to arbitrage it away.
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@nosniper34
@PhantomBlack699
Hey
@nosniper34
, the $BBBYQ short position is closed as realized gains. I’ve posted it several times when asked. Here are the screen grabs from my October statement. Take care…
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@hwdbeachgirl
@aaronmchow
@RaemenSoups
@Sam68040989
Agreed…I was making the point that none of us should be that way. If your bearish and somebody brings bearish info you shouldn’t just accept it. In fact, I’d postulate that’s the stuff you should really look at, to avoid confirmation bias
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@anna_trades
If this is what stock manipulation looks like please feel free to manipulate any of my long holdings.
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Merry Christmas Sean! $BYON making it a happier season for sure.
@marcuslemonis
and the rest of the board beginning to right the ship. Long way to go but I like what I’ve seen recently. Get us to consistent net operating income and positive cash from operations and boom!
$BYON so here is my thought. BYON is spending money on advertising/marketing and now also increasing stock buyback by $50m. Sounds to me like they see revenue numbers being positive, or they see a potential future company event that will bring in cash. An example of future
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@RaemenSoups
@sam68040989
has a point…we should all check our sources. I will never trust Brda because his assocuation with previous stock scams. No reason not to check the bearish of info as well
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@GorillaMeat1
@Badmojo6969
Wow….not really into X fights but
@GorillaMeat1
I gotta respect the hustle. May I never piss you off….
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@quint_ent
This retail short prefers position close only trading for a short finite period of time but that solution probably want happen either.
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@Botmantrade
@PhantomBlack699
@marcuslemonis
I really can’t speak to the remaining bull thesis on $BBBYQ. I don’t see anything there, but it doesn’t bother me that they still maintain hope. For me the right play was to short it and then take any profit earned and move it to BYON. I think they got a steal on the trademark.
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@JoshOswald15
Record Date of the 12th was the problem IF the company really wanted it to trade through the 12th.
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@Badmojo6969
Can’t buy to cover short position today via the Schwab app. “This order cannot be placed online. To place this order, please call a Charles Schwab representative at 1-800-435-4000.”
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@warkoy
No change. Shares show $0 value, no interest being charged, but they are still in my account and they haven’t been closed out and moved to a realized gain yet.
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