I don't understand how anyone knew anything about ASTS enough buy 35k dollars worth if stock/options. Basically going all in when the stock was 2 dollars and change. Unless...he was inside trading.
I have a friend working in Silicon Valley as an attorney, and he's genuinely one of the smartest people I know with a great investing track record.
He knew about BTC a month after the white paper came out when 1 BTC was tenths of a penny; we teased him about it and he dropped it lol. He also invested in TSLA all the way back in 2011, which I followed. He expressed interest in ASTS, so a few of us put in moderate sums back when the stock came out in 2021. My cost basis is $56K and I more or less DCA'ed until now.
Honestly? It's a ton of money but it's nothing we can't lose either. Most of my portfolio's in index funds, Roth IRA, etc... and ASTS is by far the largest position I have on single stocks. We're actually really interested in the dividend potential sometime by 2030-2032. The projected profit margins are fairly obscene. The share price should, of course, reflect that too.
It's a highly speculative stock, everyone should understand the risks. I'm really, really, really tempted to sell some at $40 right now though. Ugh... wtf.
9.9k
u/toppertd Aug 17 '24
It’s still a robinhood account. He belongs here. Give it a month.