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1 hour ago, NucksPatsFan said:

Happy Lucid day.

 

Excited to see where my $12 average shares are at when I retire 

Haha good on ya.

 

I'm enjoying my spike from my Blockchain companies today.  Taking the profits averaging down at days end

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Nikola founder Trevor Milton is indicted for allegedly lying about 'nearly all aspects of the business'

New York (CNN Business)Nikola founder Trevor Milton faces federal charges of lying to investors, according to an indictment unsealed in New York on Thursday.

 

The indictment alleges that from November 2019 through September 2020, Milton made false and misleading statements about "nearly all aspects of the business" of developing electric and hydrogen-powered trucks.
 
Milton was taken into custody in New York Thursday morning, according to Audrey Strauss, the US attorney for the Southern District of NY.
 
Specifically, prosecutors allege that Milton claimed Nikola had a "fully functioning" semi-truck prototype known as the "Nikola One," when he knew that the prototype was inoperable. The indictment says Milton also claimed that the company was producing hydrogen and was doing so at a reduced cost, when he knew that in fact no hydrogen was being produced at all by Nikola, at any cost. Milton was serving as executive chairman of the company at that time.
 
The allegations of deception were first made by short-seller Hindenburg Research, which issued a report in September of 2020 which caused shares of Nikola to plunge. Milton resigned from his post in later that month, and a company investigation released in February of this year also accused Milton of misleading investors.
 
But the federal grand jury charge obtained by the US Attorney for the Southern District of New York is by far the most serious allegation against him, and seeks to have him forfeit all the money he made at Nikola. He still owns about 20% of the company's outstanding shares, worth about $1 billion as of Wednesday's closing price.
 
Milton, who initially disputed the Hindenburg claims against him and the company, could not be reached for comment. His attorney was not identified in the indictment.
 
"We commend regulators for acting expediently to protect investors and hold Milton accountable for his egregious lies," said a statement from Hindenburg.
 
"We also want to congratulate the brave whistleblowers who came forward when they saw something wrong, despite immense pressure to stay silent. This day would not have happened without their contributions."
 
Nikola issued a statement pointing out that Milton is no longer involved with the company's operations.
 
"Today's government actions are against Mr. Milton individually, and not against the company," it said. "Nikola has cooperated with the government throughout the course of its inquiry. We remain committed to our previously announced milestones and timelines and are focused on delivering Nikola Tre battery-electric trucks later this year from the company's manufacturing facilities."
 
Shares of Nikola, which have never recovered from the slide after Hindenburg's report, were down as much as 10% in early trading on the news.
 
************************
 
Congrats to Hindenberg Research for exposing this turd.
Edited by nuckin_futz
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19 hours ago, nuckin_futz said:

Nikola founder Trevor Milton is indicted for allegedly lying about 'nearly all aspects of the business'

New York (CNN Business)Nikola founder Trevor Milton faces federal charges of lying to investors, according to an indictment unsealed in New York on Thursday.

 

The indictment alleges that from November 2019 through September 2020, Milton made false and misleading statements about "nearly all aspects of the business" of developing electric and hydrogen-powered trucks.
 
Milton was taken into custody in New York Thursday morning, according to Audrey Strauss, the US attorney for the Southern District of NY.
 
Specifically, prosecutors allege that Milton claimed Nikola had a "fully functioning" semi-truck prototype known as the "Nikola One," when he knew that the prototype was inoperable. The indictment says Milton also claimed that the company was producing hydrogen and was doing so at a reduced cost, when he knew that in fact no hydrogen was being produced at all by Nikola, at any cost. Milton was serving as executive chairman of the company at that time.
 
The allegations of deception were first made by short-seller Hindenburg Research, which issued a report in September of 2020 which caused shares of Nikola to plunge. Milton resigned from his post in later that month, and a company investigation released in February of this year also accused Milton of misleading investors.
 
But the federal grand jury charge obtained by the US Attorney for the Southern District of New York is by far the most serious allegation against him, and seeks to have him forfeit all the money he made at Nikola. He still owns about 20% of the company's outstanding shares, worth about $1 billion as of Wednesday's closing price.
 
Milton, who initially disputed the Hindenburg claims against him and the company, could not be reached for comment. His attorney was not identified in the indictment.
 
"We commend regulators for acting expediently to protect investors and hold Milton accountable for his egregious lies," said a statement from Hindenburg.
 
"We also want to congratulate the brave whistleblowers who came forward when they saw something wrong, despite immense pressure to stay silent. This day would not have happened without their contributions."
 
Nikola issued a statement pointing out that Milton is no longer involved with the company's operations.
 
"Today's government actions are against Mr. Milton individually, and not against the company," it said. "Nikola has cooperated with the government throughout the course of its inquiry. We remain committed to our previously announced milestones and timelines and are focused on delivering Nikola Tre battery-electric trucks later this year from the company's manufacturing facilities."
 
Shares of Nikola, which have never recovered from the slide after Hindenburg's report, were down as much as 10% in early trading on the news.
 
************************
 
Congrats to Hindenberg Research for exposing this turd.

I assume only reason their stock hasn't vanished is locked up shares?  Like what a garbage of a company, they could drop to zero for being such frauds.

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  • 2 weeks later...

Brand new to the investing game. Finally got tired of bank accounts giving not even 1 percent interest.

 

Opened up a TFSA to start not sure how much my contribution room would be.

 

Thinking of using RBC direct investing practice account.

 

Willing to invest 50k into the market right now.

 

Any tips or ideas on where to start to do your research on good growth stocks to buy and hold?

 

How does everyone feel about Cineplex stock right now?

 

Is Light speed a good long time hold?

 

 

 

 

 

 

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8 hours ago, Chip Kelly said:

Brand new to the investing game. Finally got tired of bank accounts giving not even 1 percent interest.

 

Opened up a TFSA to start not sure how much my contribution room would be.

 

Thinking of using RBC direct investing practice account.

 

Willing to invest 50k into the market right now.

 

Any tips or ideas on where to start to do your research on good growth stocks to buy and hold?

 

How does everyone feel about Cineplex stock right now?

 

Is Light speed a good long time hold?

 

 

 

 

 

 

If you've never invested before I highly suggest you start with ETFs, at least for majority of your portfolio. I never recommend starting with stocks unless you are willing to lose most of it. Early on in your investing career your biggest problem will be understanding your own investing personality and not selling when things go to hell or buying when markets are at all time highs and not knowing the 'true' reason for buying. Buying a company just because you 'believe' in it is not good enough. You need to be able to do your own due diligence and research and by that I mean looking through financial statements, learning about fundamental analysis and value investing and also learning about technical analysis. Also it's helpful to learn about cyclical stocks and understanding that some companies will have their time in the sun and then fade away for many years.

 

Having said all that, to answer your two questions I'm not sure I feel very positive about Cineplex until they can prove that A. Movie goers will want to come back and B. Their subscription will actually generate a large enough following. Personally I feel there are much better stocks to own at this moment. LSPD is very overvalued from fundamental analysis but as tech stocks have proven time and time again (at least for the last 10 years or so) valuation doesn't matter as long as a company can grow into it. So far they are firing on all cylinders and it doesn't look it will stumble anytime soon. However, be prepared for some significant volatility on it but that's pretty par for the course.

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13 hours ago, Chip Kelly said:

Brand new to the investing game. Finally got tired of bank accounts giving not even 1 percent interest.

 

Opened up a TFSA to start not sure how much my contribution room would be.

 

Thinking of using RBC direct investing practice account.

 

Willing to invest 50k into the market right now.

 

Any tips or ideas on where to start to do your research on good growth stocks to buy and hold?

 

How does everyone feel about Cineplex stock right now?

 

Is Light speed a good long time hold?

 

 

 

 

 

 

I was at the exact same spot a little less than a year ago.

Didnt have 50k to invest, but otherwise similar story.

Was strong out of the gate and was up about 30% in three months before the market shifted at the same time that I was getting cocky.

I don’t have much advice except to stay conservative and research well - rather than jumping on the things that have people chattering and hyped up.

 

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16 hours ago, Chip Kelly said:

Brand new to the investing game. Finally got tired of bank accounts giving not even 1 percent interest.

 

Opened up a TFSA to start not sure how much my contribution room would be.

 

Thinking of using RBC direct investing practice account.

 

Willing to invest 50k into the market right now.

 

Any tips or ideas on where to start to do your research on good growth stocks to buy and hold?

 

How does everyone feel about Cineplex stock right now?

 

Is Light speed a good long time hold?

 

 

 

 

 

 

The front page of your MyCRA profile will give you this information. 

 

I recommend reading the Intelligent Investor (I was in your position about a year ago and it is the book I learned the most from). 

 

I don't have much advice, but after reading that book, I made $SPY the bulk of my portfolio and haven't regretted it at all. 

 

 

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20 hours ago, Chip Kelly said:

Brand new to the investing game. Finally got tired of bank accounts giving not even 1 percent interest.

 

Opened up a TFSA to start not sure how much my contribution room would be.

 

Thinking of using RBC direct investing practice account.

 

Willing to invest 50k into the market right now.

 

Any tips or ideas on where to start to do your research on good growth stocks to buy and hold?

 

How does everyone feel about Cineplex stock right now?

 

Is Light speed a good long time hold?

 

 

 

 

 

 

Basically what Gokou said with regards to ETFs and individual stocks. A lot will depend on time horizons - ie. do you need the money in the next year? Is it for retirement in 20 years?

 

Both Vanguard and BMO have '1 stop shop' ETFs to suit different timelines/risk tolerances that capture the whole market, with varying equity:fixed income splits. I would park money in one of those funds that suits you, while you read some books, research and practice (with small amounts or play money).

 

Vanguard: VEQT (100% equities - ie. higher risk, longer time horizon - focused on growth), VGRO (80% equity : 20% fixed income), VBAL (60:40), I don't know the tickers for the other splits (40:60, 20:80, 0:100)

BMO: They have similar funds - I think ZGRO, ZBAL etc. (https://www.bmo.com/gam/ca/advisor/products/etfs#--tabs-1629911910498-) - they are listed under the "Equity" tab.

 

 

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22 hours ago, Chip Kelly said:

Brand new to the investing game. Finally got tired of bank accounts giving not even 1 percent interest.

 

Opened up a TFSA to start not sure how much my contribution room would be.

 

Thinking of using RBC direct investing practice account.

 

Willing to invest 50k into the market right now.

 

Any tips or ideas on where to start to do your research on good growth stocks to buy and hold?

 

How does everyone feel about Cineplex stock right now?

 

Is Light speed a good long time hold?

 

 

 

 

 

 

The current TFSA maximum contribution would be $75,500 if you have never contributed before. 

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