Remark did as expected albeit after a quick and short lived run up in pre-market Monday morning. On Sunday during the podcast I reported that it was trading at 2.86. By the next morning it was well into the $6 range. The perfect time to play the put option, just as I mentioned during that episode. Let’s discuss what exactly happened with MARK.

Welcome to Money Talk Sundayz. Thanks for tuning in. Hit that like button on your way in the door and lets get started.

MARK was the big question for Monday. Sources from all walks of life were swearing by this stock as the one. But the more in premarket it rose the more inevitable the pullback or correction. And the pullback game was strong. Within 48 hours of the last episode Mark was down from over $6 to dipping below $2.

Some of you asked what happened. Why did it fall so much? The answer is pretty simple, human emotion. This stock like so many others is viewed as a meme stock. Investors in meme stocks for the most part are in it for the short term gains. A run up like what happened Monday morning is exactly what investors are looking for. They cash in quick and fast while like many of you who weren’t already invested catch on too late and buy up the shares they are selling overvalued thereby driving the price down.

One user told me that she bought in at $7 and was down $1100 by Monday afternoon. That is the game. Buy the news, sell the hype. Too many bought the hype aka the run up not realizing a swift fall was coming.

After being burned this way on a number of occasions, I offered up a suggestion on the podcast. I recommended a put option play banking that what happened was indeed going to happen. And it did! By close of business Monday my put option was up over 80%. I’m at work with multiple browser tabs open and one of the tabs was glued to the price of MARK as it fell. I eventually took my profits on that option play Wednesday being up 115%. It felt good being able to read the play… and with time and experience (losses) you will be able to do so too.

Funny thing is that Friday people were claiming that MARK was going to run up again on Friday claiming that the stock goes up on Fridays and ebbs on Mondays. Hype. Malarkey like Uncle Joe Biden says. I was skeptical of this but again I kept a close watch. It closed the day just over $2… about 2.04-05. So much for that run up lol. I will acknowledge that today it is trading at 2.11 so there was some gain but hardly enough to appease anyone who jumped in Monday morning above $5. 

Anyway, I’m done watching MARK. On to the next mark no pun intended. Well maybe a little intended. Interested in what I have my eyes set on for this week? Subscribe to the podcast and get your notifications first on what the next play is going to be.

Happy trading bros nation.