Ticker: BGFV
Description of why you are requesting DD: company continues to have great earnings and insane short interest with a low float (reported based on DD attached but need to look into further) They also just announced a special dividend with earnings today. Last time it went from $19 to $38 in a few days, with half as many shorts, could get interesting! Forgive the squeeze DD but it was all I could find on short notice and wanted to get this out there. Thoughts?
Applicable links to news articles or Reddit analysis: https://www.reddit.com/r/Shortsqueeze/comments/qlecfb/bgfv_declares_special_dividend_of_1_the_catalyst/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
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I think we need some more eyes on this. This could run up like IRNT with better fundamentals.
AH it’s $2 away from every single option being ITM. Combined with the Short Interest, and Special Dividend, this could easily Gamma Squeeze up to $50+
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seems like decent DD. I think retail will def pump this after sir jack a lot’s post saying he is going all in this stock. could I get some more eyes on this too? Would like to see what any of the more knowledgable members would think about this.
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Just want to add to this. Conq is not confident in this stock. I think this can run up def in the AM, but I have come to the realization Sir Jack holds over 1% of the float. When he dumps it can potentially crater the momentum on this stock.
Plan your exit and trade accordingly.
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just to add on, if sir jack does plan to dump, it might be around 47.22 range since that will allow him to get to his 10 mil goal
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I think today was as much of a runup as it’s going to get. Will have to see what the OI looks like in the morning but not holding my breath. Don’t trust the Webull IV percentages, they are way low compared to other brokerages, don’t get IV crushed.
If I knew this was going to be pumped on Reddit I would have probably held an extra day (through earnings) and sold yesterday (since my entry was way lower than all those people FOMOing in).
I made profit, and not going to touch it again for a while as it will likely trend back down into the low 20’s until the next earnings run-up.
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I actually think this still has legs.
My personal theory is this was heading to $50 until Sir Pump A Lot made a weird post. A lot of people interpreted it as him exiting his position and the momentum was stopped.
Fundamentally this stock should be at least $30, I would be surprised if it gets pushed down to low $20s and would definitely entry around there if this happens before the dividend date
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Considering how PTON fell off the cliff… Sporting equipment and goods are pandemic plays and now that the pandemic is wearing off, sales should taper off too. I jumped into this 2 days ago when Deck506 posted and sold my options for a nice gain but probably gonna stay away or even consider taking puts…
With the special dividend, regular dividend and good fundamentals, this isn’t a bad stock even without the squeeze. It’s my understanding, and please correct me if I’m wrong, but the shorts also have to cover the special dividend now. That alone should give it another solid run up near nov 17th. I’m gonna get back in when it gets another dip
I don’t think it would ever touch $50, they are too small of a company, also the volume and OI just was never there to force it up. If it wasn’t for sir pump a lot it probably wouldn’t have broke $31.
This is their second special $1 dividend this year, on top of their regular quarterly dividend. That’s another reason the price has stay around it’s range instead of being more of a growth stock.
Well at least sir jack is still holding as of yesterday at least. I’m still interested and might get in if it gets around 27 ish before nov 16th. The SI is ridiculous
Do realize the price of the stock will drop accordingly with the dividends.
My lowest price (was averaging down) when I bought shares back in late Sept was $23… I think a good entry price for a longer term hold is in the $24-$25 range… Above that you will likely be in the red until the next earnings. All of October the stock was really flat and in the low 20’s…
It’s going to drop once the hype dies down, it always does. Please be cautious.
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Worked out very well! Thanks, still have a few shares just in case it runs again. Plan on sell them at 46 with sl at 36
Glad to hear it! I am still in with some calls, likely holding until next week Tuesday and will then off load them. Playing with house money and I feel like this could have another jump. Tracking short interest to see if it starts to decrease at all. Glad you took profits and good luck with the remaining lot!
I completely agree. Today I just wanted to lock down profit, sold my calls and 100 shares. Still got 50 shares to free roll. Watch out for a knife around 47 though imao
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Here is that other BGFV I saw on reddit now this is a pretty large wall of that BS where they say bad words as some sort of “gotcha” Larger brains than mine are needed but this seems to be a newer write up on BGFV and a potential squeeze
Sold out of my calls at the runup in the evening. Thanks for the DD!
Just a reminder that SIR_JACK holds about 200K shares and that his goal has been 10M in profit on the play. When he hits that number he’ll likely dump not too long after. He hits goal around $47.60.
It’d probably be wise to be out before that price as his shares hitting the market are possibly enough to instantly kill all upward momentum.
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Indeed, Sir Jack is long with his entire 9M.
In addition, be informed that caddude (nobele winner of the 10M race) gave his opinion about BGFV:
“$BGFV could go $60+ if I’m completely honest with you. Obviously price targets don’t matter, so just sell when you’re happy as PTs may never hit.”
source: https://twitter.com/caddude42069/status/1459076483012431878
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Surprisingly, BGFV saw day high at 47.65 last friday!
But Sir Jack is still holding, given his friday aftermarket update.