My Riskiest Play Yet!?

I'd like to start by saying no one should trade the way I did. No one should be following my lead with this play stock purchase even if I come out profitable. It's a very dumb way to trade but I got bored so here we are. A little background is that recently there have been IPO's running like crazy. Specifically Chinese IPO's, that are launching in price for no real reason other than hype. Why are they running like crazy? Well because dumb stock traders like yours truly are buying them!

This past week there were two insanely high IPO prices reached. One stock by the ticker of $HKD ran from it's IPO price of $16 to $1,679. This means, had you timed it perfectly, you would have made $1,663 per share you purchased. No on really understands why the stock is doing this; in fact the company even released some press saying that they did not plan this and had no idea that their stock was going to do this. That total is a 10,256% gain on your money. This stock could have retired people, has they invested 1k. I want everyone to understand that the ability to time the top of a stock is not one any human or computer possesses, and so this is mostly hypothetical. Could you imagine waking up to that huge amount in your account!? I would lose my mind, but taxes would be a real pain on that realized gain.

The next stock is ticker $MEGL which is, yes, another Chinese IPO that went public at the end of last week. This stock started at a price of $4 and ran to a price of $350 in the after hours of the market. Again no one really understand why other than the fact that they are a Chinese IPO. Regardless of why these opportunities are crazy in this market. I've never seen a stock run that high that quickly and I've been trading for about 7 years. Now I know many people want to jump ahead and see what the next IPO is going to be, and I'll talk about that I promise. Firstly I need everyone to understand that both of these stock prices are extremely risky. $HKD is still up 1,200% and $MEGL is down 95% from highs. These stocks came crashing down in a matter of days, and in some instances, hours. Do not buy into these with anything other than extra money you don't need!

That being said ticker $GCT is a Chinese IPO launching August 19th. Now I'm not expecting this to do as well as the other two IPOs, but because there is so much hype with these stocks I did buy $200 worth of the IPO price. I know that my buy in might be much more than the listed price of $10-$12, but it's fun money and I love getting more content for my blog and TikTok! I'll post some images of the other IPOs so everyone can see how nasty their charts are. Again this isn't financial advice at all, so do your own DD and understand the risks with these types of trades. I'll be updating the blog about this around the 19th when I'll be on vacation, so check back in to see how I fair with the worst trade decision of my life(this far)!!!

Thanks for reading guys!

-Spence

$MEGL

$HKD