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    Banged it out on BSAQ-VFS. Up $35k.

    by Crunching_The_Market 8 months ago

    I've hit 3 of these SPAC/IPOs for big numbers.
    Latest was Vinfast that is building a $5B factory near me in Raleigh, NC.
    Announcement last Tuesday on Vinfast reverse merger with BSAQ. Got in at the top at $17(1000 shares) (from $10). Went to $18 and promptly reversed. Crap. Watched all week as it dwindled down to 9.75 where I bought 300 more shares on Monday. Thinking that the Symbol change on Tuesday would be the big catalyst. You don't lose till you sell.
    Tuesday at 4am the name change happened and it was priced at $14. Ok. Pretty good start.
    9:45a ran up to about $17 and bought 1000 more shares.
    Neck deep now.
    Day had multiple legs up with consolidation out at $35 where I saw the PSAR reversal and clicked the sell that exited at $33.
    $35k gain for the day.
    I was down $7k and then rode it back up for the win.
    Can't wait for an actual Bull Market.
    Snip - U4950822 Interactive Brokers (8).png 5.15 KB
    Snip - U4950822 Interactive Brokers (7).png 5.45 KB

    C

    Crunching_The_Market 8 months ago

    Think this LIDAR company backed by NIO will also be a bull breakout.
    https://cnevpost.com/2023/08/11/nio-lidar-provider-innovusion-plans-nasdaq-listing/

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    TraderMike 8 months ago

    Congrats on the pay day!  Yeah, those SPACs can be wild when they de-SPAC.  I'm usually trying to short them as they'll often fall back to $10 (or lower) but the borrow fees often keep me on the sidelines.  IBKR is currently charging 51% for VFS which isn't horrible but of course there are no shares available to borrow. 🤷🏾‍♂️

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    TraderMike 8 months ago

    I hate that these things are so difficult to short!  It's already down ~40%, below $12 and not a share to borrow.  -sigh-

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