To CLOV or not to CLOV
I am a relatively new member of reddit and its subgroups. Have done a few posts here and there but read a lot, as much as my time allows. I am sorry I was not around for the AMC, GME epic episodes but, regardless, I will remember them for ever. I am not a financial adviser but college educated and have been working in the tech. field for quite a few years. I hold a relatively small position in CLOV and a micro biotech. I like both companies and will hold as long as necessary while averaging down. Enough about me. Now about CLOV: let me make it clear, this is not an attempt to solicit help to get me over my price entry point on CLOV. I am responsible, can carry my own bag, and am patient enough to let my investments appreciate in value. Again, I like both companies that much. What disgusts me regarding CLOV is the constant dirty plays on a day to day basis by what I perceive as HF shorting it and MM’s supporting it. Yes, I understand that side of business but everything should have some reasonable limits for the integrity of the entire system, long term. Of course the HF and others can afford to short CLOV and are probably averaging up and shorting more sitting on huge profits. However, some other market participants are facilitating that instead of providing stability and representing the interests of the company and its investors. One practice that I disagree with is the deliberate forced price down, at any cost, artificially. Legit investors and fair market participants should not contribute or facilitate this. At key moments, large blocks are traded down, assumed short, and then gradually covered in small chunks. For example just about all market opens this week, or mid-afternoons all days and especially Fridays on option expiration dates. Look at the volume for example Fri between 1.25pm and 1.45pm – 3 to 4 Million shares sold in large blocks with the sole purpose of forcing the price down! Why would a legit investor sell that 10+% of the daily volume in a matter of minutes, just to force the price down maybe??? There are too many oddities about the price movement in the last 10 days to not raise suspicions. Market goes up or down, CLOV goes down, good news, CLOV goes down, new retail purchases (r/CLOV for example), CLOV goes down etc. Even a pink sheet ticker shows better price action than this, aka dead cat bounce. I think CLOV is approaching the bottom fast and that it’s going to ramp up shortly, with or without squeezes. There is plenty of DD available to read supporting my presumptions.
So, let me get to the point here:
- WSB has 10+ Million members. At what price point would members be willing to invest in 100 shares of CLOV? Simple math, only 10..20% of members are buying 100 shares, it implies 10..20+ Million shares gobbled-up. That would counteract the short volume shorting 3 to 4 million shares in large chunks a couple of time a day and covering in bits and pieces.
- I cannot even imagine the effect of more apes joining in and/or purchasing more than 100 shares…can you?
- Would you agree that the day CLOV closes in green is the day shorts are being seriously impacted by the high interest rate borrow fees and the risks holding shorted shares? Right now their game is winning, with CLOV in the red every single day. Isn’t it time for a turnaround?
Ultimately, I am looking at this at a battle between good and bad, where the bad far exceeded the limit and are not playing fairly AND the fundamental value for a company, which I perceive as an excellent opportunity.
Do your own DD and please do address my 3 questions above, as I do not consider myself a financial advisor or expert.
Resident Reddit Member Ape
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July 10, 2021 at 09:21AM