Stock Du Jour, Fri. May 1, 2020, MDGS

Added on by C. Maoxian.

MediGus Ltd. (MDGS) was the stock du jour, doing 201,000 trades and $222MM in volume. It was hard-to-borrow and I paid the bookie 9.35 cents per share ($935 per 10,000) for the borrow … see why you want to be a bookie broker? It gave me a good spot and I covered end of day because the bookie broker charges SEVEN TIMES the original borrow cost to carry overnight (7 x $935 = $6,545) plus 1x for both Saturday and Sunday night, so my total cost to carry over the weekend would be $8,415, and the stock would have to drop another 85 cents (which I expect it will do) just to cover those costs … crazy. Obviously I need a new bookie. It only took me two years to sign up with a bookie broker in the first place, so it’ll take another two years to switch (I’m half joking).

I also played AMTX, MYO and SPI with the bookie broker (huge amount spent on borrows today, but it turned out to be worth it) and I played AGRX, GSUM and MIST with IB, since they had “free” shares, but I paid hundreds of dollars in commissions there — they get you one way or the other, as I’m fond of saying.

Good day today though, I guess the broad market was down (I never know) which may have given a tailwind, but microcap HTB land is a universe unto itself, and I’m happy that it’s my playground. I was a good boy (no tilt), and it was a good day. Looking forward to getting some rest this weekend!