What other tech stock to consider?

[graphilwar]

GBTC is like buying a stock - you just buy and sell from a brokerage account. It is very easy; no different than buying TSLA shares. I found the complexity and risk of buying actual BTC for the $ amounts I am considering to be too much for me. I am computer and tech savvy but I could never find an easy, fast and straightforward way to simply buy BTC.

It always seems complex - buy a digital wallet, wire $ to a third party crypto exchange (separate from your wallet), buy BTC on the exchange when your $ arrives, then transfer BTC back to your wallet. Then if you want the withdraw the $, all those steps are reversed. Most exchanges had high transfer fees and maximum deposits and withdrawal amounts. And then I don't like the idea of my investment sitting on a hard drive/USB with a password that could be lost or being held by an unknown host.

I understand GBTC has its own risks and limitations, but it currently holds $4 billion+ of investment money and is predicted to own over 3% of all BTC sometimes soon. Also, Chamath Palihapitiya (who I follow and trust) mentioned that he uses (or maybe would use) GBTC to invest in BTC.

My biggest concern with GBTC is that they charge 2% management fee to run what basically amounts to an ETF that only buys a single thing. It’s not like ARK where they have to, you know, research stuff. I’m happy buying and holding BTC directly.

 

[JRP3]

There is value in just being able to click "buy" or "sell" with GBTC and not worry about the details. For me that's worth the management fee.

 

[joh01652]

Any thoughts on solar stocks that would be buoyed by an expansion of Solar Roof / Powerwall? Word in the TeslaSolar subreddit is that Tesla is developing their own inverter, which could represent a pretty big blow to SolarEdge.

@willow_hiller Are you the one who recommended Cleanspark CLSK early this year? My memory tells me it was you, but my memory is often wrong. I bought $10K worth of shares at 2.80 because of Tesla/Cleanspark working together rumor, promptly lost 2K after purchase, sold, and haven't touched it since. Of course, that $10K would be $100K ten months later, so I'm kicking myself...

I still know very little about the company and want to learn more. Has this company already been discussed to death here? Could someone point me to relevant threads? Thanks

 

[JRP3]

Looks like some profit taking in ABML.

 

[BrownOuttaSpec]

Looks like some profit taking in ABML.

Seems like ARKG is doing the same thing. down almost 9% today.... a good buying opportunity?

 

[ggr]

@willow_hiller Are you the one who recommended Cleanspark CLSK early this year? My memory tells me it was you, but my memory is often wrong. I bought $10K worth of shares at 2.80 because of Tesla/Cleanspark working together rumor, promptly lost 2K after purchase, sold, and haven't touched it since. Of course, that $10K would be $100K ten months later, so I'm kicking myself...

I still know very little about the company and want to learn more. Has this company already been discussed to death here? Could someone point me to relevant threads? Thanks

My spreadsheet credits the recommendation to @Cosmacelf, to whom I owe a case of nice wine for that and other recommendations. He's even local to me! If he's listening, just say the word and I'll deliver.

Other recommendations from @Cosmacelf that I've profited from: DOCU, FOUR, GP, NOW, ZS. He also recommended ZOOM, but I was already in that.

 

[JRP3]

Seems like ARKG is doing the same thing. down almost 9% today...

That's only because I bought some yesterday

 

[Cosmacelf]

My spreadsheet credits the recommendation to @Cosmacelf, to whom I owe a case of nice wine for that and other recommendations. He's even local to me! If he's listening, just say the word and I'll deliver.

Other recommendations from @Cosmacelf that I've profited from: DOCU, FOUR, GP, NOW, ZS. He also recommended ZOOM, but I was already in that.

I can’t take credit for Cleanspark. I never recommended nor bought it, unfortunately! I did buy and recommend that other basket of stocks though. GP has been a wild ride. Often has 20% or more moves. It has such a small market cap that when a fund buys it, they can’t help but raise the stock price a lot. I’m looking for them to release some nice quarterly reports in 2021.

 

[MP3Mike]

@willow_hiller Are you the one who recommended Cleanspark CLSK early this year?

Yep, @willow_hiller was the first person to mention CLSK in this thread:

Does anyone have news on CleanSpark (CLSK)? Some chatter on stocktwits is claiming some sort of partnership with TSLA but I can't find any reputable news about it. It's up about 58% today.

 

[willow_hiller]

@willow_hiller Are you the one who recommended Cleanspark CLSK early this year? My memory tells me it was you, but my memory is often wrong. I bought $10K worth of shares at 2.80 because of Tesla/Cleanspark working together rumor, promptly lost 2K after purchase, sold, and haven't touched it since. Of course, that $10K would be $100K ten months later, so I'm kicking myself...

I still know very little about the company and want to learn more. Has this company already been discussed to death here? Could someone point me to relevant threads? Thanks

Yeah, not a recommendation per se, just a question. I didn't know enough about them at the time to put any money down, and it doesn't seem like that Tesla partnership rumor ever came to fruition.

Conceptually they sound promising, microgrid software in a similar vein to Tesla's Autobidder. But it would be nice to know more details.

EDIT: doing some digging this morning. They've gotten into cryptocurrency... sounds really gimmicky to me: https://www.reddit.com/r/CleanSpark..._confused_on_why_clsk_would_acquire_a/gfzl56b

 

[vikings123]

@willow_hiller Are you the one who recommended Cleanspark CLSK early this year? My memory tells me it was you, but my memory is often wrong. I bought $10K worth of shares at 2.80 because of Tesla/Cleanspark working together rumor, promptly lost 2K after purchase, sold, and haven't touched it since. Of course, that $10K would be $100K ten months later, so I'm kicking myself...

I still know very little about the company and want to learn more. Has this company already been discussed to death here? Could someone point me to relevant threads? Thanks

The one thing I have learned with most of these speculative stocks is you buy and hold. In other words be prepared to lose it all. You never know when these go on a crazy 50% run in a single day. Of course you need to size the trades accordingly.

ABML sure sounds like an interesting stock so bought some last week. Also bought some GBTC this week. Thanks for the pointers.

 

[ggr]

I can’t take credit for Cleanspark. I never recommended nor bought it, unfortunately! I did buy and recommend that other basket of stocks though. GP has been a wild ride. Often has 20% or more moves. It has such a small market cap that when a fund buys it, they can’t help but raise the stock price a lot. I’m looking for them to release some nice quarterly reports in 2021.

Spreadsheet corrected. Still owe you the case of wine ;-).

 

[Cosmacelf]

Elon states that manufacturing is critically important to Tesla, and he implies, to many other industries. The theory being that if you can make the same widget cheaper and better than your competition through advanced manufacturing, you win. Obviously, Tesla has other strategies in place too, like design innovations.

The reason I bring this up is Apple. They seem content just managing their manufacturing partners, relying on their brand, ecosystem, design innovations, etc. Which is a kinda Warren Buffet way of viewing the world. Their iPhone ecosystem is very powerful and quite the moat. But not doing any manufacturing themselves seems to me like a long term problem for Apple, which is one reason why I haven't recently invested in them. Thoughts?

BTW, while I like GP for the medium term, they will have to improve their strategy for me to continuing liking them long term. They do own their manufacturing plants and manufacture their vehicles in house (plus), but they don't own much advanced technology that goes into them. For their industry, I don't think it matters for the next year or more, but it bears watching.

 

[MP3Mike]

I finally found the next big thing after a long search. Will keep u guys updated.

@Causalien any update on when you will get a chance to share any details on this new big thing?

 

[Sanny]

Gee, thanks. Wanted to pick up some of those... Now own 200

Was thinking about ARKG for some time. Any particular reason for the pullback?

 

[Cosmacelf]

Was thinking about ARKG for some time. Any particular reason for the pullback?

Well, probably their underlying stocks each pulled back (it is an ETF afterall). As to why that occurred - well it is Christmas break and we often see smallish price dislocations around this time since most fund managers are not working, so volume dries up, so price moves tend to be exaggerated. If you actively trade during this period, you can pick up some small bargains. I expect prices to go back to normal next week.

Edit: Whatever "normal" means...

 

[Cosmacelf]

I had bought some ARKK at around 50 (thank you, ARK). As I look at all the ARK funds, the best one, IMHO, still seems to be ARKK based on their top ten holdings. What do you guys think of the various top ten holdings of the ARK funds? Which do you think will do better in 1-2 years?

 

[Dancing Lemur]

Well, probably their underlying stocks each pulled back (it is an ETF afterall). As to why that occurred - well it is Christmas break and we often see smallish price dislocations around this time since most fund managers are not working, so volume dries up, so price moves tend to be exaggerated. If you actively trade during this period, you can pick up some small bargains. I expect prices to go back to normal next week.

Edit: Whatever "normal" means...

It’s much more likely that it’s because of Arcturus Therapeutics’ (ARCT) tank of >50% today on disappointing vaccine news. That’s 4.5% of the fund. That also put some downward pressure on the whole sector.

 

[OrthoSurg]

My biggest concern with GBTC is that they charge 2% management fee to run what basically amounts to an ETF that only buys a single thing. It’s not like ARK where they have to, you know, research stuff. I’m happy buying and holding BTC directly.

I thought there was a 2% conversion fee charged by other apps to convert fiat money into Bitcoins.

 

[Cosmacelf]

It’s much more likely that it’s because of Arcturus Therapeutics’ (ARCT) tank of >50% today on disappointing vaccine news. That’s 4.5% of the fund. That also put some downward pressure on the whole sector.

And that's why I don't like investing in biotech - too much of a dice roll. Even the scientists in the company don't know what results they will get.