Been blown away at the interest in my tweets and videos over the last 2 weeks since my Juneteenth interview on Fox Business about $IREN and $CIFR. 4M impressions on X. I think there’s a real hunger out there to find the next big stock - not just for 0DTEs but for multi-months and not just to 2x but 5x, 10x, and 100x. When I called out Carvana in 2023, it worked out beyond my wildest dreams and I remember chatting with folks about it afterwards and they thought it was a one-off. I was pretty sure CVNA wouldn’t go bankrupt. The CEO Ernie Garcia bought a whack of stock in March and June ‘22. Then several members of his management team bought millions of stock in open market purchases in Nov ‘22. You never see that from below the CEO - let alone in a company about to file for bankruptcy. In that same period, I also called out @tobi buying a large amount of $COIN stock (as a director). At $30, $COIN was way too cheap, assuming that people would come back to trading crypto (which they did) and the Biden admin disallowing a number of competitors in the US and FTX blowing up. I made money on the trade but got out later in 2023 after it went past $100 and then started to pullback. The 5 year chart of COIN looks great now but zoom in to any 1 or 2 month period and look at the volatility. Imagine getting in at $50 in COIN to see it go up to $110 2 weeks later and then drop to $75 2 weeks after that and then. do nothing. Even if you have one of tech’s great rebound trades, it’s tough to sit through the day to day volatility - especially watching the media scream about the headlines of the day. I got into $UBER late after the Saudi’s made a big stock purchase in June 2022. I don’t think I got in until the $40s in 2023 and rode it up to the $70s but then it got tired and stalled out there. Today, it looks like it was a straight shot from $20 to $90 but it felt like anything but in the middle. I decided to call out that I was going to hit a home run in the bleachers like Babe Ruth and as I had tentatively done with $CVNA with $DEFT in May/June ‘24. No one had heard of it. It was a Canadian-listed stock which had gotten down to 6 cents or something in 2022/23. I thought I’d “missed it” when I first bought it under a buck. But I could see the momentum and how undervalued it was (still is). It got to over $4 earlier in the year. Then $BTQQF goes from $0.21 in December to over $7 Thursday and it hasn’t even uplisted yet. You don’t get too many 32-baggers in the public markets. I said I think it will 1000x from where I bought it in early December. That means it still will 31x from here IMO. Lots of catalysts ahead. One thing I learned with BTQ though is that, to truly capture these 30x, 100x, 1000x opportunities, you have to find the companies with legs and you have to either get in really early or get in at a perfectly low water market - like 6 cents for DEFT or $38 for COIN or $22 for $UBER. That’s tough. And you can’t get shaken out by the pullbacks. And some of the pullbacks can be brutal. You think it was nice sitting on BTQ gains at $4.38 in January after buying at 21 cents the prior month and watching it go to $1.11 in April on all the tariff stuff? I was not feeling too brilliant then. And then the stock goes from $1.11 to $7 in 2 months. But you know what? Look at all the biggest tech stocks today - $AAPL $MSFT $ORCL $AMZN - they have all had (usually 2-3x) drawdowns of 70 - 95% in their histories. It’s just what happens with these growth tech stocks. I don’t always get it right. I thought $OPEN would have a similar run that $CVNA did. It still might - maybe with new management - but it’s down 80% since I mentioned it on the Compound podcast in June ‘23 (I gave up on it a while ago). So now, with all my successes and failures over the last 5 years, I’ve gotten to the point of I don’t care what people think any more. So I’m calling my shot. I’ve never felt more confident compared to all the examples above in $IREN and $CIFR.
Great to get 12 mins to go deep on tech with @JonErlichman on @BNNBloomberg this morning. We discussed finding multi-year multi-baggers like $CVNA $DEFT $BTQQF and why I think $IREN and $CIFR are the next 5-year 100-baggers. We also touched on $NVDA and the Mag 7.
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