Wednesday, April 17, 2019

Checking in with The Fly—"New Plan of Attack: Buy All the IPOs"

We usually visit Le Fly during market breaks to observe unmedicated bipolar disturbance in its natural habitat, markets.
Today however we wanted to see how he was reacting to the eerie calm we've seen this week.
And after the jumps an old nemesis, Bloom Energy.

First up, the headline post:
Wall Street is very fickle and trendy. When a trade works, fuckers dive into similar strategies in an effort to repeat their success. We’ve seen this happen in cannabis, blockchain, biotech, Chinese burritos, and any number of hot sectors running hot due to nothing but the mood.

Enter JMIA — ‘The African Amazon.’
The gains enjoyed in this stock happened so fast and with ease, it has replenished the coffers of many trader/degenerates trading fast and reckless. Those proceeds will not roll into PG or CLX, but into other fast sectors and stocks. I suspect the new trade will be recent IPOs....MORE 
Got it. Spec money not moving into Proctor & Gamble or Clorox.

And other recent Fly headlines:
April 15 
Don’t Lose Faith in the Snoozefest; The Grande Finale is Just Around the Bend
April 16 
This Market is Fueled By Clouds of Cocaine
April 16 
Bought More Into the Gentle Waves of Risk
April 17 
Breaking Necks to the Upside
I’ve got the entire house booming with the sounds of The Nutcracker symphony and no one can stop me....

And then the one that got my attention: 
Fly Buy: $BE

Hey, that's Bloom Energy! We know Bloom Energy. We don't care for Bloom Energy.
The company came public last July at $15.00, popped 30% on the first day and went higher from there:

And then collapsed.
However, we're no Bloomies come lately, no sirree. Our dislike goes back years. 
Here's a post from 2016:
More Silicon Valley Bullshit: Bloom Energy May Be Worth Less Than The VC Cash It Has Raised

And a few more:
Anyone keeping tabs would have been tipped as early as 2008 and definitely by the time we posted:
The Company you Keep: "Bloom, Fisker and Serious Materials Raising Cash from Advanced Equities"
November 2012 
Phi Scamma Jamma: Late Stage VC Investor Advanced Equities Shutting Down (Bloom; Fisker etc.)
 
Bloom Energy on 60 Minutes: "Can You Believe the Hype" (BLDP; FCEL; PLUG; GE; SI)

Is the Bloom Energy Payback Period 15 Years?

Fortune Exclusive: Bloom Energy's Earnings
Things have changed since Kleiner Perkins Orchestrated the hype machine back in February 2010....

And many more, use the 'search blog' box if interested. 
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