Stock Du Jour, Tue. May 12, 2020, MARK

Added on by C. Maoxian.

Remark Holdings (MARK) was the HTB (hard-to-borrow) du jour, doing 370,000 trades and $451MM in volume. I did not play it (unfortunately) and focused on NNVC instead. There has been so much in play lately that I’m finding it hard to focus, and yesterday I “forgot” about a resting order in something that got triggered and instantly snapped back giving me a large loss, which I took (could have carried it and hoped for the best (and it would have worked out) but I considered it a mistake that had to be fixed immediately). Also I’ve been paying a lot in borrow fees that I’ve not been using effectively, so I slowed things down today and only focused on NVAX and NNVC.

I paid between 6.6 and 10.97 cents per share for the NNVC borrow and thankfully made enough money to pay those crazy fees. They took NVAX near $45 (it closed yesterday at around $25). I fought this one a bit (“don’t fight the tape”) and used questionable size at times (near infinite borrow at IB), and lost quite a bit of money on it in the end. Bad. Anyway, tomorrow is another day (until I run out of money or lose my mind).