In 8 years of watching and writing on and curating the stream I have seen it all. Than of course something happens that blows it all away. In 2007, when I dreamed up Stocktwits, I believed all the best, weirdest and most creative public company CEO’s would use Twitter. We started Stocktwits as a place to entertain the traders/investors that wanted to talk about this all day in real time, trade and share news, research, charts and bring context.
This week I bring you $MGT.
The Pump is on. The weird and wild John McAfee is using Twitter in a very shrewd way. He’s a candidate for Libertarian President and just so happens to have a penny stock he happens to be a part of that is out to better mankind no doubt. The Company that brought him in has gone from online gaming to cyber security. Business Insider has some more details.
John is not so busy running the Company as to stop promotional tweets about the stock.
I love how people squeezed in a short position try to troll down the stock price. Good luck with that folks. https://t.co/VTWiIbqhY4
— John McAfee (@officialmcafee) May 17, 2016
Here is a chart of the moment:
If you want your mind blown keep reading.
— StockTwits (@StockTwits) May 18, 2016
Over on Stocktwits a few days back, the stream went wild. It has risen quickly now from $.50 cents. We see the numbers happen in real time. We have a policy to keep stocks under $5 from being in the trending algorithm. Sure enough today the stock has risen above $5. Yesterday, because of Robinhood and free trading I joined the party with $100 shares at $4 and this morning sold at $5.30. Good enough for $140 of sushi for the team if they want.
But I doubt this party lasts. What is different about this one speculative run is the mood of the stream is very light and positive. Hilarious pictures and messgaes and GIF’s are rolling through the $MGT stream. Over 15,000 just yesterday a single day record for a ticker on Stoctwits. John McAffee is the Donald Trump of the ‘Pump and TBD’.
Here is one personon our stream that killed it with his entry.
— Andrew (@Andrew_GVN) May. 13 at 07:01 AM
As I finish, the stock is already back to $4.90 and you can see a screenshot of my desktop and the chart of $MGT and it owning the number 1 trending spot on Stocktwits
Full Disclosure – I have no position and just traded the 100 shares for my own fun and education. These episodes usually end in tears and big losses for small shareholders chasing a story and a microcap stock.
Also published on Medium.