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130 sats \ 9 replies \ @byzantine 13 Aug \ on: Fold (FLD) had a tremendous Q2 earnings call adds 10k new customer accounts Stacker_Stocks
expenses:
-Banking & payment processing $14.4 million
-Compensation & benefits $10.1 million
-Professional fees (legal, audit, consulting, etc.) $3.1 million
-Other selling, general & administrative
(SG&A) $2.4 million
-Marketing $1.0 million
-Custody & trading costs $0.2 million
if their major product is banking services and the banking services are their biggest expense it appears that their expenses will continue to grow as they acquire customers.
this is not a good business. there is a reason they listed via a SPAC.
What about the new products the gift cards and credit card? Plus the compensation is a bit high.
It’s a growing business that is why the price is under $10. Wall Street is taking your position thus they expect it to fail .
I wonder how many shares are short.
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i'm betting they lose money on the credit card (most companies use it as a loss leader like costco) and doubtful there is any uptake of bitcoin gift cards
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Well your short position should do very well then. If so bearish put you fiat where your thesis is
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not shorting just betting it won't outperform bitcoin so i'm not participating
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How are you betting with nothing at risk.
If you were true to your convictions you would profit from it. That is why we all buy Bitcoin
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I took the amount that I would short it with and bought bitcoin instead