As you all know, Chinese stocks tanked about a week ago after Xi was elected for the third term. Given his track record of cracking down on tech companies, many Chinese stocks tanked.
My question for all of you is…didn’t we know that he was going to get his 3rd term? So why was there a panic selling?
So we bought a bunch of stocks and call options since the drop and here is a list of what we bought.
- $BABA: bought calls and made 100% return in one week (exited)
- $TAL: bought calls and made 4x return in one week (exited)
- $WB: bought calls and made 2x return in one week (still holding)
- $NIU: bought calls and made 57% return in one week (exited)
- $NIO: bought calls and made 33% return in one week (exited)
- $EDU: bought calls and made 123% return in one week (exited)
Why are we still holding onto $WB? We have some time now since it expires on December 16. Also, there is a rumor that they are going to ease their Zero-Covid policy. Hence, worth keeping at least one since we are playing with the house money. And $WB has traditionally been focusing on user growth and less on monetization and I think that’s about to change. Hence, we will hold onto it a bit longer. I think $WB Dec 16 $15 call might be our 10x candidate.
Please do your own DD before making any investment decisions.