Foreign. Good to see you here on this Friday morning. We've seen really, uh, some major spikes this week on the likes of notably a Bed Bath Beyond also seeing activity pick back up in AMC and GameStop What do you think is driving this return or some of these meme stock faves I think right now what's going on is beyond exciting High Volatility and what it is is kind of what we've seen a little bit in early Circa 2021 where a lot of the short interest is starting to pick up, the cost to borrow is starting to pick up. It's being tough to be as short and a lot of people are diving into the trade now.

One thing I want to quickly say about it is is exactly that: I would view the opportunity right now with this soaring I believe over 200 gain in Bed Bath and Beyond this past week almost 30 percent in AMC and Gme uh, the craziness that we're seeing, especially in Bbby is exactly that. it's an active trade I Wouldn't look at the current scenario as oh, I'm going to invest in it and come back years later and hope that it's grown. So yes, I think it's fun. Maybe you would consider it to be a little bit degenerate, but it is exactly that.

A fun active High Volatility trade. How long does that fun active High Volatility trade that is a little bit degenerate. Have legs see I Get this question a lot and I absolutely love it. Fantastic question.

The best way to do this because so many times people are like what's The price it could go to is it could go in X Y to Z In my own humble opinion, I Think the absolute best thing you could do is just use a classic Trend following methodology whatever one is your favorite. As long as it's going up, stay in the trend and keep moving your trailing stop loss with you. and ideally as soon as it moves a little bit you would want to set your trailing stop loss to break. Even so, in the worst case scenario, you don't lose anything on the play.

But the reason I don't want to say of how long like really time box it is. we don't know how long the trend will last. So you want to be in the trade as long as the trend does favor your position. I mean I Guess the problem is if as it has happened with Bed Bath Beyond it falls 50 in a day right? Like so then it's hard to sort of get out in front of it.

Um, first of all I'm curious Matt are you actually active in this trade or is it sort of fun in theory for you? Um, and so I guess I'll ask you that and then I'll follow up with something else. So I still have my position in AMC and Gme but right now I'm carrying Nothing On Bed Bath and Beyond I Always like to say the adage of like you don't want to be late to the party It might be cool in real life, but definitely not in the stock market and by the time I saw it was going on, it had already moved. at that point almost 100. So I was late and I'm watching it.

It's kind of fun to see the fireworks of, almost as if you're a casino, a lurker watching people with big bets. Uh, but I have no skin in the game on this particular movement. Yeah, standing at the Bed Bath and Beyond table watching as it unfolds that um, we had a sell side analyst on earlier who covers retail not Bed Bath and Beyond specifically, but covers retail and said what has happened in the stock is sort of emblematic of a lack of financial literacy in terms of people jumping in there. What do you make of that comment I Understand where they're coming from, but I don't fully agree.

I Think that's a very classic fundamental breakdown of how do you do a fundamental analysis of a company. And of course there is a time and place for that. But as we've discussed in previous I guess interviews here is more of I Believe value is yes, fundamental value. but now there's kind of a community value that really took the stage in the start of 2021.

So I think that's really the delineation between. Are we talking about a long-term investment where I would say yes, Let's do a full fundamental breakdown versus an active trade I think that's a key thing to delineate on and see the difference of what's Happening Here Matt Since you uh, do still have that position in GameStop Let me ask you this: uh, every time I post something on a GameStop You know recently there have been layoffs at the company. results have not been up to Snuff the Nft business has not worked I get shredded on social media and one one, why am I so hated by this community on everything I post on GameStop and then two. what is your bullish thesis on the company? Uh, all right.

so to take the first part of it, I've been there myself. It does seem as if you're not always saying something that goes with the entire group and kind of that group thing that if you post a different idea like maybe this isn't the best or maybe we need to think about this differently. It is very easy to get shredded on social media, but that's what social media is I said I guess sometimes you just have to take those hits I Don't think it's really good because maybe sometimes people have a Counterpoint that should be thought of, discussed and really I guess pondered, especially when your money is on the table. So I don't think that's necessarily a healthy thing, but the bullish thesis, it's kind of.

Are we going to talk about fundamentals for that long-term investment or are we going to talk about the absolute Wildfire uh cultural movement that we saw in 2021 where still a lot of people are in it for this this concept of like the David Goliath fighting the shorts with me? Uh, my thesis on it is where it's at right now and squeezing to those levels that we saw previously. those levels were clearly not fundamental levels. I don't necessarily if know if someone would argue that looking at the fundamentals of the situation, but it's more of that Collective group argument of a Okay, there's a lot of people in it. it's more of that the social media craze of like the craziness that people will kind of attack people.

Well, those are also the people continually buying and buying. So it's interesting now that Finance has very realistically taken on this aspect of yes, you have to consider fundamentals, technicals. and now also what is the world of social media showing? Which another way to summarize that is the power of retail. It wasn't just really a flash in the pan, we're still experiencing it now in the start of 2023..

if is there a a non kind of memetic trade that catches your eye right now? So if we're talking more of a medium term of like what I'm seeing in 2023 um what you had with your uh I guess former interview right here. I'm actually still really excited about what we're seeing in the world of energy. If we just look at what's going on with the administration the Strategic petroleum Reserve kind of going down, we know there's a floor essentially going to be set at 70. Um so I think oil right now trading around 79 a barrel.

I'm looking for energy to still kind of cruise to the upside this year. and other than that, we're in a very tough, restrictive economic environment. So I'm looking at just those classic Diamonds in the Rough that I would love to buy on a discount and hold for as long as I can. So strong balance sheet.

companies such as Microsoft paying a dividend Home Depot paying a dividend Great balance sheets. Looking at other clear winners such as Apple Nvidia in the long term if those companies end up failing I believe we have far bigger issues, so I would love to add those on discount. um Matt Are there any other big spikes that you see coming up? Are there any? You know? You obviously are doing research? You're making some fundamental calls. There's still the world of a lot of chatter on Reddit and on other social media platforms.

Do you see any commentary sort of marshaling around certain names that we're not talking about yet? I think right now the main like all the talk that I'm seeing is kind of the craziness of Bed Bath and Beyond And then we're seeing a little bit of the similar cohort sympathy play in AMC and Jimmy There's a lot of discussion there. one that spiked a little bit recently in terms of a lot of retail interest was actually a it was a security under Mmat, it was their Mmtlp it was trading for a bit in December and then all of a sudden Finra kind of cut it off and like it was really confusing. So right now people are very much following that story to figure out what happened because people were in the company and now it's gone to a private company and they don't know what's going on with their preferred shares. So that was kind of interesting in mid-December People still talking about it, but I think that's going to go the way of let's talk to the SEC or Finra to figure out why things went the way they went.

Interesting, all right. Matt Always good to get your perspective and to go outside of the Wall Street bubble. Appreciate it. YouTube Host Matt Corris Thank you Yeah.

.