/biz/ - Business & Finance

>>54400584
DWAC is shit. That's not the point. The larp is still obvious.

>At least DWAC helped me with the down payment on my house
Implies you couldn't previously afford it
>also funded a 40k payment on the backyard renovations
Implies minimum 40k profit from DWAC alone.

>I am willing to sell as many shares of DWAC as my portfolio constraints allow for (400 bps)
>I had a max 350 bps position before
Using bps when talking about portfolio makeup is retarded since its a term for yields, but lets ignore that. A 3.5% position. Lets take the absolute minimum implied 40k profit.
DWAC had an absolute peak near $200 in Oct '21, but in Feb 2022 the peak was 101.87. The floor is 12.34. Lets ignore the short fee rate, although with DWAC being total garbage and clobbered by shorts the whole way down it was probably monstrous. I have no historical data for potential fee rates, they'd vary by broker, and it's pretty irrelevant to the conclusion anyway.

101.87 -> 12.34 is an 88% profit on the short.
To gain 40k profit off this, you'd need a $45.5k starting position size.
At 3.5% of portfolio net value initial position, this means the portfolio starting size would've been approximately $1,300,000.

Even in downtown San Jose, that's enough to buy a house outright. So no, there's no world where DWAC paid for your 40k backyard renovation on a new house that you just recently accumulated the downpayment for.

There's no need to larp. Post good plays and we'll take you more seriously. Yes, I'm autistic.