Transcription
Are you making some money? Are you having some fun out here? Holy smokers, this is no jokers! Look at these small caps roll; Revolve with about a 10% move, Fubo 9%, Cheesecake Factory over 5%, and Honest another four plus percent. Incredible run these stocks are on!
Sofi continues to run. Sofi has now climbed to a 100% plus gain in the public account and has now climbed significantly above that; we're now up 121%! And look at Amazing on Amazon, right behind that. It could be the seventh stock in the public account to hit a 2X or more, which is absolutely incredible.
Three subjects I want to speak about in today's video. The first thing we’re looking at here is this one-month chart of Honest, which is up 134% in the past month. Revolve's up 53% in the past month, Cheesecake's up 16% in the past month, and the Russell's up 10% in the past month. Are we still early in this small-cap run? We're going to discuss that at the beginning of today's video.
I'm going to take you through some very important things if you’re thinking about, "Oh, is the Russell run about over? Are we actually early?" This is going to be pretty shocking to you guys to see what plays out here, and I’ll show you that in this video today.
Okay, the second thing we're going to speak about is where the best opportunities are in regards to small caps to buy. Obviously, that's where a massive amount of momentum is, so we'll speak about that. The third thing we're going to speak about is a stock that I own, and I'll be honest, I don’t want to sell this stock yet. The hint is there’s still major upside in the stock, and I’ll explain why. I’ll explain what's going on with that company and why there’s still major upside ahead, and why it just doesn’t make sense to sell shares even now at this point in time.
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Okay, all right guys, so what do we have going on here? Check this out—this is extremely important to show everybody this right now. This is a five-year performance of the QQQ, which is just think about it as the NASDAQ 100 versus S&P 500 versus the Russell 2000. Because if you're thinking about small caps, you’ve got to understand where small caps have been to understand where they’re likely going.
What we're going to see over the past 5 years is one of the most insane divergences we've ever seen in regards to the Russell 2000 versus the S&P 500 versus the NASDAQ. I mean, the fact that the Russell, keep in mind, over a 5-year span, these three indexes should move roughly in line. Now, one might be 5, 10, 15 percentage points ahead of the other; that wouldn’t be questionable over a 5-year span, maybe even 20%. But this is anything but normal. We have 40 percentage points of difference between the Russell and the S&P 500, and we have nearly 100 percentage points of difference between the NASDAQ and the Russell. That’s not normal; that is not going to last.
But it has been what has transpired here over the past number of years, right? Rona messed up a lot of the small caps. Then we went into the super high inflationary environment, which messed up a lot of the small caps, and debt got a lot higher, benefiting more of the tech-related stocks because those ones actually have unbelievable balance sheets with cash loads and usually low debt, or no debt on those balance sheets. So you had a whole multitude—several different factors all transpired that caused this divergence to happen between all these different indexes, but this is not going to last, folks.
This has happened. If we were to go back in time and you were to know all those things that would have transpired, you would have been able to put the pieces together and realized, "Oh, the Russell is probably not going to be looking good in the next few years."
Now, check this out: This is from November 2021 through November 2024. We just got back; we just got back to where we were three years ago, folks! Three years ago! Isn’t that incredible? We had obviously the massive drop there, and then we had a whole bottoming-out process that lasted well over a year, right? And then we started our recovery here, and we’ve just been recovering ever since. And we’re finally back to where we were three years ago.
But the important thing to understand about that is we just got back to where we were. It's not like we’re at some new record high for the Russell, and it’s like some crazy number like, “Wow, we’re by far way the highest!” No, we’re just back to where we were three years ago. Keep this in mind; this is very important: inflation has ran at what, 133% cumulative roughly over this particular time period? Huh, you know that means the Russell's well underperformed inflation over the past 3 years, which is incredible to think about.
Right now, what I'm showing you here looks back at the Great financial crisis. Okay, I’m looking at the Russell 2000 Great financial crisis three-year chart. Okay, so check this out. This looks back at, you know, 2007 going into 2008, right back here, and essentially, we know what happened in the Great financial crisis: the stock market crashed. We had an epic crash, and that didn’t just happen in the Russell; it happened in the NASDAQ, S&P 500, the Dow 30—all the markets crashed that particular year.
What’s interesting is basically, despite that three-year crash, it came back to life. So even though it had an incredibly violent crash—and this is a different sort of crash in regards to the Russell 2000 than what we had recently, right? Because the recent crash we had in the Russell 2000 was not kind of like a v-shaped recovery; it was kind of like a long, long bottoming out process—not as far down; you didn’t go down nearly as far in this crash, but it was a long bottoming formation, and then we started upward movement.
Look at the Great financial crisis then; it was a straight-off-the-cliff, insanely violent crash, right? A 50% crash, but then the v-shaped recovery was incredible from that, right? It wasn't like the Russell was down and out for a long period of time; it came back sharply, right? So basically, what we've just watched in the Russell 2000 over the past 3 years is exactly what the Russell went through in the Great financial crisis—just a little different in terms of the Great financial crisis being much more of a v-shaped recovery, but it went down farther.
And this one was more like a slow drag, just being dead for years, right? So the moral of the story is you got to the same place basically in the Russell 2000; just you got there differently, right? Which is incredible. But then what happened after it got back to where it used to be? Then it went on an incredible run the next 3 years. The Russell went up over 60 percentage points, which is an incredible run for the Russell after that period of time!
So this backs it up to, you know, kind of toward the end of 2010-ish, right, which is kind of where we wrap up this chart, and that goes all the way into late 2013. Incredible run! A 60% plus run over those 3 years. So the moral of the story in regards to understanding this Russell situation is there’s a real potential that over the next 3 years the Russell 2000 goes up 50%, 60%, 70%, or 80%.
I wouldn’t necessarily bank on it in terms of like, let’s go buy call options and all those sorts of things. But the moral of the story is here, folks, I would say the Russell sets up pretty darn well for the next several years, just to be quite frank. If it does what it did after the Great financial crisis, the Russell is going to be a lot of fun for the next several years. Now, that doesn’t mean you can’t have dips in between, right?
Look at right here, you had a major correction in the Russell here. The Russell here reaches up to about, we can call it about 87 or so, and in a matter of just a few weeks, the Russell went down to 640. So just keep this in mind: the Russell run could roll through the end of this year, maybe into the beginning of 2025, but then there’s potential, like in the springtime or the summertime, to have a major correction in the Russell before it starts its next upward recovery.
So don’t just think, “Oh, if it goes up 60% over the next 3 years, it’s just going to be in a straight line.” It doesn’t have to be at all; there could easily be one or two major corrections during that rally. Okay, so something to keep in mind there.
Now check this out: I wanted to say, “Okay, let’s look at what the S&P 500 did and the NASDAQ did over the next 3 years,” right? So once again, we’re looking at basically the same chart we were right here, and check this out: the Russell went up 61% over that time, the Q's went up 66% over that time, and the S&P 500 went up 53%. That’s normal.
So then you had a normal recovery after that point in time. If I was thinking about trying to gauge these different indexes together and I was trying to say what index do I think will outperform the other ones over the next 3 years, my thought about that is I think the Russell has a good opportunity to outperform the other two main indexes, the S&P 500 and the NASDAQ over the next 3 years. But if I had to bank on something else, I would bank on the NASDAQ over the S&P 500.
So we could get very much a similar phenomenon that we had at that particular time. Once again, don’t bank on it; I don't think, “Oh, I’m just going to buy calls and it’s all going to work out exactly like it did after the Great financial crisis.” But there's a lot of rhyming going on here when you start to look back at these historical patterns from the Great financial crisis and what we went through—what the indexes went through and kind of what we had transpire, especially in regard to Russell specifically.
So that's a little food for thought in regards to that. The moral of the story in regards to Russell is we could still very well be early in this move, and there could still be substantial upside in the Russell 2000 over the next two or three years. It doesn’t mean you won’t have a correction here or there in the Russell. When you do get that correction—let’s say the Russell rolls into year-end, and then rolls into the beginning of 2025, and then let's play this out, right? Let’s say it's springtime 2025 or summertime 2025—boom! Major correction.
Let’s say it happens to all indexes, not just the Russell—the S&P 500 and NASDAQ go down, Russell goes down, right? Oh boy, everybody's going to say, "End of the world! End of the bull market! You know, that was fun while it lasted; it’s all over! It’s all over!" Right? And then, boom! A steep drop in all the indexes for whatever reason. I don't know, trade war tensions, inflation starts going up again, whatever the reason will be. There’s always a reason to throw out when stocks go down, right? And they’ll throw a reason out there—multiple reasons that will be why the market goes down at that particular time, right?
And so then people will say, "Oh, that’s the end of the small-cap run. Bye-bye!" right? Only to maybe get a pie in the face, and then a few months later the Russell’s even higher than it was previously. So keep that in mind; that is something to keep in mind.
Now, regarding some of these opportunities in small-cap land and some of these stocks, look at a stock like Hest. Incredible move; it's up 165% year-to-date. Keep in mind, go back to October-November of last year, 2023—Honest was a dollar, a dollar and some change, right? And now it’s $8. I mean, just a ridiculous return profile over the past 12-13 months in the stock. But year-to-date, it's up 165%. You might think, "Is this move done? Is it overextended? What’s going on here?"
I’ll frame it like this: Honest is a company that, right now, there’s no debating; Honest is at their healthiest they’ve ever been in regards to that company—revenues, amount of customers, market share, margins, profitability—everything’s the healthiest you’ve ever seen it in regards to Honest. The business is by far the most well-run you’ve ever seen. The management team's got it all down. But keep in mind, this stock is still down over 50% from IPO—50 plus percent, right? So this baby has a long way to climb just to get back to that old IPO price even after this incredible move.
No, will it go there in a straight line? I don't think so. I think it's going to have corrections along the way and, you know, at some point they’ll report a quarter that finally is like—not the best quarter they’ve ever reported or something like that, right? Everybody will give up on the stock short-term, and then it will come climbing back.
But this stock still has to over 2X just to get back to where it was just a few years ago, so that’s something to keep in mind there. Remember, once again, this business is in a far better place than it was back here. I can tell you that. Look at the financials of the company back here; look at the financials nowadays, and it's a night-and-day difference in regards to this company.
So when I look at a stock like Honest, you know, I'm now up $101,000 on the stock in one of my portfolios. Right? I don’t own it in the public account, but I own it in one of my other portfolios—50,000 shares I have. I have no real interest in selling these 50,000 shares or even a portion of these 50,000 shares right now because there's really no incentive for me to do that. Other than, like, I made money; well, I make money in a lot of stocks, and it doesn’t mean I have to take a profit.
And I already have money in cash, so it’s not like I really need money to put over to cash. But when I look at Honest, I’m like, “This baby still likely has a long way to climb.” This could be a $15-$20 stock a year from now or a couple years from now. So there’s no real incentive I have to take profits in regards to a stock like this.
If the stock was $20 today, $25, I might feel different and might say, “Okay, let me take $10,000 off the table,” or, excuse me, not $10,000, 10,000 shares off the table or 20,000 shares. But at $8? Yeah, whatever! I’ll let it ride! And you know whatever, if the stock goes down to $7 in the short term because of whatever reason, I don’t care. I’d much rather, you know, not play the game of it might go down to $7 so let me get out.
I’d much rather hold this and feel better about it being at $17 than feeling bad about myself because it went to $7. Like, who cares? Who cares in the end, right? As a long-term investor, it means nothing. I remember I held the stock all the way down to a dollar something a share. So for me, holding now is easy peasy lemon squeezy regarding these 50,000 shares.
Right? I’ve had those shares for a while now. Revolve is in the public account, right? This position I have in the public account is just one of the six stocks I have that’s up over a double. Revolve’s now up almost 200% for us—197%! Another $8,000 up on this stock here today, RVLV.
Right? Check this out: Revolve is still in recovery, folks! If we go back to three years ago, November 2021, this stock was $85 a share. It's $37 today. I mean, this stock still has to climb, you know! It still has to well over double up to even get back to where it was three plus years ago, right?
So this is a long play in regards to Revolve and kind of what's going on here. Right? Look at Revolve’s latest income statement. This is another one I’m like, the consumer recovery really is going to be seen, in my opinion, in 2025 and 2026. So we’re still early in kind of even the consumer turn. Like, I really don’t think we're seeing that till next year.
Net sales increase: $26 million for the company year-over-year, while cost of sales only went up $14 million, meaning gross profits going to go where? Up $144 million! Gross profit from $133 million, gross profit income from operations went to $4 million plus from $324,000, net income went to $10.7 million from $3.1 million. Diluted EPS went to 15 cents from 4 cents, and their diluted share count, they brought that down substantially because they got big buybacks on right now with a phenomenal balance sheet.
So when I look at Revolve, I'm like, you know, this is another one. I’m looking at it and I’m like there’s not really a huge incentive. I’ve thought about it, I thought maybe I’ll cash some shares in Revolve, but I just don’t have a big enough incentive right now. I just don’t!
I mean, if the stock was $70, $80, I’d feel very differently, right? I’d say you know what? Let me take 700 shares off the table here or a thousand shares, or you know, maybe sell the whole position or something like that. But here I’m like, ah man! Even though I’m kind of like, uh, maybe it’s just I still doesn’t make that much financial sense, and additionally, I think the setup’s pretty good for next year!
Analysts, I believe, are too bearish in regards to numbers. Keep in mind, THXstock.com we’re looking at kind of what analysts are thinking about for these companies, right? In Revolve, you know, analysts are at less than double-digit earnings per share growth next year and less than 10% revenue growth.
I have a pretty strong feeling based upon the numbers I’m seeing from Revolve and also the fact I think there's going to be a decent consumer recovery next year that there’s going to be double-digit revenue growth and double-digit earnings per share growth for Revolve next year. I think it’s going to be quite substantial, and so then next thing you know, if all of a sudden Revolve gets back to 20% type revenue growth, you know what everybody’s going to start talking about? Revolve’s a 20% plus grower again!
And that’s when this stock was valued back at $80 plus a share—that’s when the company was growing revenues consistently 20 plus percent. And people kind of thought about, “Well, Revolve is going to grow revenues at 20 plus% year in and year out. We’re going to bid this stock up,” and that’s when it went to $80 plus!
So the moral of the story is in regards to this one, if they get back to that 20% plus revenue growth—look out! The move, you know, a double is coming if that were to play out there. Keeping in mind, right?
Now, Fubo—I’m looking at this one, and either I’m really dumb or I’m a freaking genius on this one, and I don’t know which it is yet. I’ll be honest with you guys because I’m looking at this company, and everything’s going better and better for them. The legal stuff is going better and better for them on the legal front, right? Subscribers keep going up for them. The revenue—look at the trailing 12-month revenue for Fubo and how that continues to build out, right? And that should continue to build out over the next many, many quarters and many, many years. So that’s all going phenomenal—the top line’s there; the top line’s amazing, right?
And then we look at the bottom line, look at the earnings per share, and you know now they’re starting to take these small losses. We could easily be talking about profitability in 2025 and start talking about when are they going to hit a profitable quarter, and then when they do hit a profitable quarter, how much is it going to be?
So the talk in 2023 and before was like, “How insanely big are the losses?” Talking 2024 around Fubo is how small loss is going to be. 2025, the talk's going to be, "Which quarter are they going to hit profitability?" And when they do hit profitability, how much profitability are we talking?
And those are very, very different conversations. So I’m looking at a stock like Fubo, and I’m like, “Geez, this one might be setting up for a pretty epic run.” But we’ll see; we’ll see. Maybe I’m wrong on that one. I’m just like I’ve thought about it so many times—I’m like, “It looks pretty darn attractive,” so I’m willing to risk some level of capital.
Now, let me say this, though; it’s very important when we talk about one of these companies that is technically still money-losing, like Fubo, right? And that’s a dollar something a share.
Keep in mind what I said in the video that I published back in September—right? I did a video called “16 Years of Stock Market Advice in 52 Minutes.” It’s my favorite video I’ve done this entire year. In 2024, if you ever see that thumbnail on YouTube and you’ve got 52 minutes on your side, watch that video because it will be, in my opinion, the most valuable video you will have watched in 2024. How much you'll be able to learn and pick up from that 52 minutes should be phenomenal, right?
But one of the many points I bring up in that video—which I bring up a lot of points in that 52 minutes—is watch out for unprofitable stocks! If you’re going to buy unprofitable stocks, make sure you keep position sizing small! It’s very key because keep in mind a stock like Fubo, if that one turns out and goes from a dollar to $10 or $20 or something like that, like you don’t need to put a lot of money in to have made game-changing money in regards to it!
Where people get into trouble with these sorts of stocks is they essentially put in too much money, you know? They take too much of a risk, let’s call it that, right? And then the company doesn’t work out, and it goes BK or whatever, and you know, you’re stuck in a bad situation.
Right? With a stock like Fubo, like sure it’s a risk—that’s why it’s a dollar a share—but if that upside works out, it’s phenomenal! And you don’t need to put a lot in to get insane gains out of it. So you just always have to keep position sizing small in regards to those ones.
By the way, that video—I was actually just looking at some data around it, right? 98.5% of people liked that video—it’s phenomenal, but you know, not a lot of people watch all the way through; people only make it 13 minutes into the video!
Guys, let me just state this before we get into this next part of the video: like, make sure you’ve got your attention span! If you’ve got the attention span of a goldfish, don’t do stock market investing! Don’t do it! You are doomed for failure, and also, you will never ever be wealthy! I promise you that!
If you've got a low attention span, you’re not going to make it. If you’re like one of those people that just, you know, you need like the TikTok dopamine hits and all that stuff, you’re not going to make it in this game. Because if you’re talking about you ever want to get big money, you’ve got to do so much boring stuff. You’ve got to listen to all these conference calls, read annual reports, and pay attention to all these different reports, right?
Like, anything you ever want to achieve big money with, you’ve got to put up with the boring stuff. You could be an NFL quarterback; you might say, “Oh, that looks so great! A guy makes $50 million a year, it looks so fun!” He just goes out there and throws—you don’t see all the boring crap those guys have to go through and all the film study, and they rewind the video a millisecond back and then a little forward to see what this defender is moving a little bit over here.
You don’t see all that stuff, right? And so in stock market investing, like you don’t see all the boring crap somebody like myself has to do, right? But that is what gets you to very, very high levels. Without going through all that boring stuff, you’re never going to be able to achieve whatever you want to achieve financially, I can promise you that!
I promise you that! So, the moral of the story in a video like that is it’s your loss if you don’t watch it all the way through, and you watch 13 minutes and you’re like, "Okay, that’s enough of this!" That’s your loss; you just missed all those points. It’s not my loss, I can tell you that much! I’m okay for life, but not everybody's okay for life.
So get your attention spans up, man! And you can fix that. A lot of different ways you can fix that out; mindful meditation definitely will help you out immensely if you’re having trouble keeping your focus. And you need help really, you know, getting to a deeper level of being able to pay attention to stuff that’s longer maybe isn’t the most exciting. You know, otherwise, you’re just a child! You’re just a child, right?
You know, that needs all the colors and the boom, boom, boom, boom, boom, boom, you know? Like, I have little kids, right? And I see the stuff they watch on cartoons and all that stuff—all the contrast and, you know, flips to a new scene, new scene, new scene. Like, you know, every second or two it’s like a new angle, a new angle—new angle on the cartoon or whatever, right?
Like, don’t be a child! You got to get your attention spans up if you want to achieve big money! Like, a lot of times the people that have the most money have the longest attention spans and have the most ability to, you know, like you think about these guys like Elon Musk and Jeff Bezos and these sorts of legends! Right? Like those guys could literally spend two days straight just having meetings and meetings and meetings and meetings, whatever's needed.
Right? Steve Jobs could do that! Like that’s how you really play this game on a high level.
All right, next up here let’s talk about a stock that I own that I won’t sell and why, right? And the stock still has major upside. I'm about to take you through why the stock has so much upside ahead.
So Meta—Meta is a big position for me. I’m now up $759,000 in the public account—right? Incredible! I can't sell this stock, and as bad as I would love to cash out 200 shares, because I really do, I can’t sell the stock yet!
Okay, here’s why. So, first off, by the way, dividends incoming! So anybody that’s watching this as a Meta shareholder, you got a dividend likely coming here pretty soon. I’m sure they’re going to announce that probably the first week. My guess, it’s the first week of December or maybe in the next few days—they’re likely going to announce their next dividend. It’s going to likely be $0.50 as the other three were, right?
And so I should have $850 coming to me, let’s call it kind of mid to late December there, right? Now, also, my opinion in regards to Meta dividend is I do believe this is just my personal belief. I believe they’re going to up the dividend to $0.75 in 2025.
I believe they’re going to up it a quarter, which, if they do that, that would essentially mean I'm going to start receiving $1,275 every 3 months for just the Meta shares I have in the public account. Never mind all the other Meta shares I have in, you know, outside of the public account as well.
So Meta shareholders, you know, in terms of the dividend—like that’s pretty sweet to collect that dividend money coming in, right? But in regards to Meta, like the dividend money is sweet, and I'm looking forward to collecting likely a lot more dividend money next year than I’m collecting this year, but that's still the little money in regards to Meta. The big money really is in share price appreciation that's coming here!
Keep in mind, forward P on this company is around 24 right now. Looking at ThousandStocks.com, kind of taking what analysts are thinking here, right? But the company comes in and beats and smashes those analyst expectations almost every single quarter. So if the forward P says 24, in your mind, you should be thinking probably 22, 21, or 20.
The forward P probably is considering Meta just comes and smashes analyst expectations almost every single quarter, right? Additionally, I think analysts are way too bearish in regard to earnings per share projections and revenue projections! Right? I think they’re way too bearish. I think Meta is going to smash analyst expectations next year.
So looking at some numbers here, right? Here’s what I expect Meta to do over the coming years. If I had to, like, you know, instead of averaging it out, have to like give you a concrete number of what I think Revenue will go up, I believe in 2025, Revenue will be up 18%. I believe in 2026, Revenue will be up 16%. 2027, 14%, and 2028, 12%.
Now, net income growth, I have them doing 28% in 2025 because net income should far outstrip revenue growth for Meta over the coming years. They seem to be keeping as far as employee expense in a relatively conservative range, and also, they have actually AI helping a lot on the cost side of the business, right? 25% net income growth I had them doing in 2026, 20% in 2027, and 18% in 2028.
That puts net income’s margins at 39% in 2025, which I think is definitely a doable number for them; 42% in 2026, 44% in 2027, and 46% in 2028. By the way, this is our projections calculator on THX, which can just be incredibly helpful, right? Looking here, I’m kind of thinking a 30 to 48 P/E ratio sounds about fair for Meta next year, given that they should likely grow revenue at 18% and net income at about 28%.
As far as 2026, 16% revenue growth, net income growth at 25%, that puts their P/E, I think, a P/E would be fair at about 27 to 45 in 2026, right? 2027, given 14% top line growth, 20% bottom line growth at 25 to 35 is very fair for Meta, right?
And then 2028, 12% top line growth, 18% net income growth, I think 24 to 33 P/E is very fair for Meta. Right? So look at this here: if this transpires what I think is going to transpire—and this is not some crazy bullish case I have for this; this is probably what you would expect Meta to do over the next couple of years—Meta will be likely over $1,000 a share either in 2025 or 2026, right?
And it's a $500-something dollar stock right now. So I’m basically looking like I’m going to get a 2X likely in the next, I would say, 12 to 24 months. It’s hard for me to sell out of Meta with, I would say, an extremely high probability that I get a 2X on the stock within the next 24 months. It’s just very difficult to sell when you’ve got that sort of situation, right?
Now, additionally, look at where the share price is kind of going out there. I have them either in 2029 or 2030 hitting $2,000 plus a share! So I got a double up coming here in the next 24 months, and I likely got another double up coming, you know, we can call it maybe three years after that—three or four years after that.
This is why it’s so difficult for me to sell Meta! And tell me if you can find another stock like this: A+ balance sheet, A+ income statement, under 25 forward PE, a top-tier proven CEO. It pays a dividend, and it has a diversified business, so they have many different businesses, right?
They’re the leader in AI and the leader in VR and AR, which are two massively growing markets over the next 10, 20, 30 years, right? And the stock is likely going to 2X within 2 years. Find me another company like that, and guess what? You can’t!
You can find other companies that have an A+ balance sheet—there are a few of those out there. You can find other companies that have an A+ income statement; you can find other companies that have a forward P/E under 25. It’s certainly not many companies that have an A+ balance sheet and income statement, right?
But you can’t find a company that has all of this! This is the only—this is one of one! There are one of one, you can find great companies that maybe have a lot of these things, but then, let’s say the forward P/E on the stock is like 80, or 100, or 150, or something like that, right?
So you can’t find a company that has all of this! They are one of one! This is why I can’t do it, man! I just can’t do it! I got to continue to hold that stock, and you know, as bad as I would love to sell 200 shares and deploy that money somewhere else, I just can’t right now!
If the stock was trading at $1,000 today, I would be able to sell 200 shares and say, "You know what? I’m taking 200 out. I’m going to diversify that and put that somewhere else." But given what’s going on here, I can’t do it, man! Can’t do it!
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