Stocks - The Best Buys 2

[Leondros]

AMCI is having a hell of a time. Merger next week, hopefully it comes back up...

[curves2000]

I am hoping a few of you CP cat's might be able to provide some guidance, advice, alternative thinking or just reassurance on a potential strategy.

I have been a long time Blackberry shareholder, 10 years now. I have an average cost of approx $11 and I hold it in both cash and TFSA accounts.

I have approx $40k in room in my TFSA from a withdrawal I had done a few years ago and never replaced.

I am thinking about doing an in kind contribution of approx $40k into the TFSA of BB shares. I would be booking some capital gains in the cash account and than have it tax sheltered in the TFSA in the event this insanity continues.

I have some trailing stops in place and I am following closely. I guess I am just looking at minimizing taxes, maximizing upside potential while limiting potential losses.

Am I missing anything? Anything anybody would do different? Anything other than capital gains taxes I should worry about? Any stop loss techniques or other trading strategies?

Normally I am not this much of a clown but this last few days has been wild.

[Leondros]

Originally Posted by curves2000

I am hoping a few of you CP cat's might be able to provide some guidance, advice, alternative thinking or just reassurance on a potential strategy.

I have been a long time Blackberry shareholder, 10 years now. I have an average cost of approx $11 and I hold it in both cash and TFSA accounts.

I have approx $40k in room in my TFSA from a withdrawal I had done a few years ago and never replaced.

I am thinking about doing an in kind contribution of approx $40k into the TFSA of BB shares. I would be booking some capital gains in the cash account and than have it tax sheltered in the TFSA in the event this insanity continues.

I have some trailing stops in place and I am following closely. I guess I am just looking at minimizing taxes, maximizing upside potential while limiting potential losses.

Am I missing anything? Anything anybody would do different? Anything other than capital gains taxes I should worry about? Any stop loss techniques or other trading strategies?

Normally I am not this much of a clown but this last few days has been wild.

Only thing I will caution you on is moving a bunch of BB shares over at X price to your TFSA, and then having BB crash at X-80% price will result in the inability for you to have tax losses in addition to chewing up a bunch of your TFSA room. (ie. you transferred at $40K but now its only worth $10K). The difference between Adjusted Cost Base and the transfer price will also hit capital gains before it gets transferred as a deemed disposition.

[Wormius]

I only have some incidental exposure through an ETF I have, GAMR and I was wondering what the heck was happening the last couple of days.

[CroFlames]

Originally Posted by Cecil Terwilliger

I think I'll go the route of Lenny with my sweet sweet profits.

When I become a multi millionaire off GME and BB, I'm doing full reconstruction.

I'll fly to LA to the best plastic surgeon with a picture of Hasselhoff from the 80s and just tell him to work his magic.

Might even get some of those fake abs everyone raves about.

*rocket*

[Monahammer]

I decided I needed to jump in this morning- cashed out my other positions and got BB and NOK before the run ups. Hoping for big things tomorrow.

[Top Shelf]

The FOMO is real and alive with these stocks right now.

[J pold]

So Blockbuster is up over nearly 4,000% over the last 5 days...

[Ozy_Flame]

Just catching up on the latest in Reddit / GME drama, the guy on Reddit invested $50k and is now up $48 million, and has made a whole schwack of other people a #### ton of money.

My god.

[red sky]

It is pure insanity and I am totally jealous! Was following this for a while now but didn't really do much digging. Man am I regretting not getting in when GME was ~$10.

[Manhattanboy]

Originally Posted by Ozy_Flame

Just catching up on the latest in Reddit / GME drama, the guy on Reddit invested $50k and is now up $48 million, and has made a whole schwack of other people a #### ton of money.

My god.

He must have had options that multiplied his return significantly.

[flames_fan_down_under]

Wow. That's so awesome.

[Iggy_12]

Im in full dgen mode and need manwiches next hot take

[Table 5]

Originally Posted by Leondros

AMCI is having a hell of a time. Merger next week, hopefully it comes back up...

Yeah, hate to interrupt the GME/AMC/BB euphoria, but if anyone (IGGYRULES?) has more insight here on this one, that would be appreciated. It's dropped quite a bit the last few days...sign of something bad, or just an opportunity to add on?

[CroFlames]

Hate to be a wet blanket, but guys remember to keep your actual portfolio separate from your meme portfolio.

It’s fun to get wrapped up in this stuff, but just remember to be responsible.

I’m all in with GME. Not selling till we hit $1,000. Stick it to the man.

[Cecil Terwilliger]

Originally Posted by Manhattanboy

He must have had options that multiplied his return significantly.

If you look at the posts, $50k was his initial holding.

Last I looked, he was into it for $770k. Although when I checked he was only at $22 mil. Obviously that has increased since then.

[bizaro86]

Originally Posted by Manhattanboy

He must have had options that multiplied his return significantly.

Yeah, it was all out-of-the-money calls.

[Cecil Terwilliger]

Originally Posted by CroFlames

Hate to be a wet blanket, but guys remember to keep your actual portfolio separate from your meme portfolio.

It’s fun to get wrapped up in this stuff, but just remember to be responsible.

I’m all in with GME. Not selling till we hit $1,000. Stick it to the man.

I cannot stress this enough. Please don't YOLO it with your entire portfolio. It seems like a great idea but those guys on WSB are friggin certifiable. Rolling the dice with their entire life savings.

My self directed account is basically play money (and even then I'm only doing it because I didn't like the advisor options in my employers group RSP). My real life savings are with an actual professional.

[Izzle]

WSB would like to think it is Sticking It To The Man.

Meanwhile, BlackRock is raking in billions being a plurality holder in GME. Way to go, WSB.

[Wormius]

Bed Bath and Beyond is probably being caught up in this too. Unless there is a legit reason, other than stock symbol, to be up 100% this week.