₦airaland Forum

Friends, the CEO of Boeing, David Calhoun, said yesterday that atleast a major airline in US will go bankrupt this year. Please, dont go to sleep because you bought the "bottom".

OakPearl:
Yes.
I got the message too.
Before now, portfolio valuation on the app's dashboard was still reflecting the previous exchange rate which is lower, but during withdrawal, it reflects the current exchange thereby giving a higher naira value.

Their message means they have adjusted the system's algorithm to also reflect the current naira equivalent when you are viewing your portfolio valuation on the dashboard.

Thanks for the explanation.
Trove needs to do more on disparity in FX rate during deposit and withdrawal. As at today, FX rate for deposit is N461, but for withdrawal is N434. Hence, investors will loose N28/$ if you withdraw. However, diff btw buying and selling in parallel market is N15.

afroxyz:
Can't seem to get their number from the app?

Trove CC - 0907 713 2746

afroxyz:
Please how long does Trove take to verify profile details? Mine has been ongoing since last week

Call customer care

OakPearl:
Honestly.
Now makes it look like ages when I made my last exchange at N360/$.
So even without a single trade from when I exchanged, I just made some money with this current rate of N461.3/$.
The more devalued the naira, the more money you make whether you trade or not.

Do you understand this message from Trove - "We previously used a median rate to calculate your Naira portfolio value. However, you all said the Naira exchange rate at withdrawal is more reflective of the true value of your portfolio. The algorithm has been adjusted and now calculates your portfolio in Naira using that metric instead. Please Note:This does not affect the dollar value of your wallet"

nna777:
I saw the graph you posted and I went back to do some digging.
In the month of February, it's range of support and consolidation was Btw 60 - 70. That was when they first announced about the drug trial.

By March, a breakout occurred to a range Btw 70 - 83 . It's has oscillated Btw these 2 points till now. from the charts, it's obvious it will soon breakout again and find its new support in the 80s range before consolidating there for a while.

That's why in my previous post I said q4 will be fantastic for them, they would have better improved and streamlined for efficiency. the reason for the W pattern is because it's still in its trail phase. once they get the required details from this current trial, they will go back and work to make it better.

I hope this helps.

If the drug fails, what will happen to the share price of the stock? I think you should consider potential negative effect of news on the price as well.

For example, DAL was trading around $25 and BOEING $142 before W.B said he exited his positions in airline industry because he believed the industry has changed. Since then DAL and BA have been going down.

YerYer:
I share the same sentiment. Think about it, Amazon reported a 26% sales increase in the 1st quarter, this is usually their slowest quarter. Despite this boom in sales, they reported 29% decline in profit because Bezos said they spent "even way more."

Amazon went on to say they expect to make $4B in the 2nd quarter but they plan to spend all of it on Corona-virus related expenses like keeping their workers safe and increasing wages. They plan to carry out COVID-19 testing on all employees and also plan to buy all the necessary masks and gloves for their employees.

The bottom line is, profiting from a pandemic looks really bad. Like many have said, millions are unemployed, millions are infected and several thousands have died as a result. To add to this, some Amazon warehouse employees are threatening to strike because they say they don't feel safe and protected. During the international Workers Day, some Amazon employees staged a walkout and it made headline news.

Same with Tesla; they reported good earnings and the stock jumped to over $860, the very next day, Elon Musk is tweeting about the stock price being so high. This is the same person who's always saying that anyone shorting Tesla will lose, he even makes fun of them on Twitter when they lose billions betting against Tesla.

Many articles have been written about how billionaires are getting richer in this pandemic and many of those articles include Bezos and Musk. It doesn't look good no matter how you look at it. So in order to save face, they had to say things to make it look like they aren't gloating in their massive fortunes. Bezo's statement about shareholders taking a seat or Musk's tweet about Tesla stock being too high are nothing but good PR. While I wouldn't completely call it a conspiracy because I believe Amazon is really spending money to incentivise and protect their workers, I wouldn't sell the stocks here, I would rather add to it. No one wants to come out and announce they are making billions of dollars while the country is falling apart, it just looks bad.

CNBC/Bloomberg did explained that probable reason for Elon Musk tweet was because the value of the company was about to reach $100B which will trigger contractual payment of millions of dollars to him.

4Play:
I had a small speculative position in Southwest Airlines (LUV) which I had to bail out of today at market open. Warren Buffett's comments definitely weighing on sentiments.

If I have spare money I will buy more of airlines stocks because they are cheap and the country will do all that is needed to ensure they survive. Without airlines, US is dead as a tourist destination. Though, it may take two or three years before the stocks reach there previous highs

seyisanya:
After doing your due diligence, and you buy stocks for long term purpose, you don't need to bother about the daily price fluctuations. Most especially if you bought at discounted prices like those who bought in March 2020.

Indeed they bougth the "bottom". ...Boeing: 95, Tesla: 300+, Apple:222(not sure), American Tower: 174 etc

CAPR gained 250% yesterday on news of 100% recovery for COVID-19 patients that used CAPR-1000. It traded below $3/share before the news.

YerYer:
NIO the chinese EV maker is up 17% today after securing $1Billion in funding. Bought some more shares and will probably hold till $4. Earnings is on may 26th.

Why do you want to go short on NIO?

YerYer:
Sold INO $13/$ for $390 profit. I was up as much as $2000 yesterday but the stock gapped down before I could sell.

I bought shares of Nordic American Tankers (NAT) yesterday. With the historic decline in the price of oil, there's just so much oil and little demand. This oil tanker stock is doing very well this period because they hep store the excess oil and they charge a premium. I'm up 18%, I might add more or look towards other tanker stocks like (FRO) and (STNG).

INO lorry refused to continue its journey once it realised that Oakpearl has aligthed. It has made a U-turn to go and meet its customer at kilometer 7.
I will go and wait for the bus there, but, watch out ooo, some shareholders already filed a suit of deceit.

1kinggy:
I am in your shoes and I have decided to wait it out.

However, if you a sure stocks that is likely going to rally and give you a good returns you can date it.

For now, I'm not putting any fresh Naira into those apps.

mission08:
Hi guys! I have been a silent follower of this thread and I want to say kudos to you all for the good work you are doing.

I started investing earlier this month using the Chaka app. I have some fund again that I’m willing to invest but my concern now is the exchange rate. The last time I checked on chaka earlier today was #450 to $1 and generally the black market rate goes for same range. The question now is should one wait this out and invest later when the naira regains higher value?

Remember dollar once exchanged for 500 in 2016/2017 before it eventually settled at #360. Is it advisable to convert to dollar now? What is your projection based on the current economic situations both in Nigeria and US? I can't afford to buy now for the value to be better tomorrow? Another school of thought believes the devaluation will continue until the oil crises is over.

Your thoughts on this would be highly appreciated

The naira regaining its value is dependent on price of crude oil and our foreign reserve. My opinion, I do not see it regaining its value this year. The black market exchange rate is the true value of the naira.
If you are highly cautious, I will advise you find out the selling price of dollar before conversion.

Please seek Gurus opinion before buying any stock. The market is still highly volatile.

OakPearl:
Bought INO at $7.36 on March 11th 2020.
Sold today April 22nd 2020 at $11.57 with a tidy $1,500 net profit.

CONGRATULATION[color=#006600][/color]

4Play:
USO stock suffers from rollover risks so is a poor way to play a bounce in oil prices. As I understand it, the ETF needs to be rolled over at the expiration of the front month's (nearest month) futures contract.

For instance, the ETF will currently hold the June contract for WTI which they have to sell in May to purchase the July contract - if they don't sell, it means taking physical delivery of oil which they don't want. Come May when selling the June contract, they will be selling at lower prices than they bought the contract due to the supply glut whilst purchasing the more expensive July contract. Therefore, they are constantly buying high and selling low in a so called contango market.

Hopefully, someone here is a better explainer but it appears a no-go area for anyone betting on oil prices rising. Unless one is looking at a short-term bounce.


There is also an article that explains the USO stock problem: https://seekingalpha.com/article/4338311-betting-on-higher-oil-prices-uso-is-not-right-vehicle


Maybe consider Occidental Petroleum (OXY) to play a bounce as it looks poised to rise once the carnage in the oil markets stop. A better run oil company is Chevron (CVX), though that has risen quite a bit since its lows.

Thanks 4play.

ArcFresky:
What are the charges on Trove?

Tommee, co-founder of Trove, said it is 1%.
Please read pages 26 & 27. He was here couple of days ago and he answered some questions regarding Trove services.

ArcFresky:
Guys, what do you think about the attached image?


Secondly is there a cheaper alternative to Bamboo, I want to day trade, and their fee of 1.5% is kinda high ( their fee is even more that the 1.5%, about 1.538%).
Lafuria1 oakpearl
Thanks

I will advise you dont day trade using Bamboo, It takes 48hrs for wallet to be credited after selling stock. For Trove, it is almost immediate.
I hsold stock on Bamboo on Monday with the intention of using the money to buy Zoom which was at $129. Unfortunately, I watched Zoom price moved from $129 - $142 as at yesterday.
My wallet was credited this morning.

Pennywise:
It seems Trove has serious issues with their customer service and from what you are saying, their operations if not the overall health of the company. It was the first online platform I chose for transaction. I funded my account and was about to place an order when I saw the disparity in exchange rate with a certain other platform I wont mention. I raised the issue with Trove and the person retorted- 'who told you so'?

I am like WTF!! Of course I took my money and made a run for it. At least temporarily. I may still go back depending on feelers I get. But I have to say what I have been seeing and hearing lately isnt encouraging. Which Nigerian stock broking firm are they working with? Who are their international partners? Its important Trove doesnt fail. Because if it does it is going to have a negative effect on all the other platforms. People might make a run for their money and that could send others into distress. Trove should shape up and fire who they need to fire and hire who they need to hire. Its a wonderful investment opportunity given to a certain category of Nigerians that should not be wasted.

US and International stock brokers have disrespected Nigerians long enough.

Hello,
Trove's exchange rate is higher (like cealing) than that of Bamboo and it will take almost a week before your account is credited. This problem emanates from how the company source FX. If it is Bamboo, your account will be credited within 24hrs.
However, Trove will credit your acc within 24hrs of withdrawal while Bamboo will take days.

I do not want to continue comparing both companies so that I do not appear biased towards one.

Lalaska:
Thank you for your encouraging words. I watched Tesla fall to $450 some weeks back and was biting my fingers because I was kept on waitlist for some weeks due to high volume and could not trade. Glad that it's here again. It's such a volatile stock that it can determine the overall shape of one's portfolio. It's going to be a fun ride with this one.

Somebody dey loose money, you dey happy say the bus dey go south. I will advise you watch prison break before you enter the bus....you migth need the knowledge.

Lalaska:
This is one stock on my radar. I'll just observe from a distance first before I jump in.

Look the bus well ooo, It migth be going in a route diff from yours

Wittysmith:
I don't think the reason is far fetched from the general paranoid caused by the corona virus crisis.
The important thing though, is that good stocks are now available for grabs at good discounts for the discerning investors.

I do not think it is wise to buy stocks now till 20th of April when the full effect of the lock down would have been felt. Or till all the companies have reported there Q1 financial report.

Does anyone know the reason why tech stocks are really down today?

OakPearl:
Live Price Check: ZM now $157.31

Thanks.

cutebobo:
Pls how long does it take for naira to dollar conversion on trove

It can take like five business working days on Trove. You need to be calling them if you want your money earlier than that.

OakPearl:
The pain can quickly change to gain.
I watched my $300 gain spoken earlier about rise to $400 and then suddenly heading down back.
I pulled the trigger at above $300 gain eventually.

Before This, it had fallen from the $120 I bought it to about $105; until the "pain" changed to gain.

What happened yesterday was profit taking: Many who bought at $130 and below were selling to take profits. It will rise again as covid-19 continues to hold sway.
Dear Abuabdullah, come and see your Zoom oh.
Pain changing to gain.

Thanks Sir Oakpearl.
It ia down less than $140 again. I guess the share price is really affected by what Trump said.
People are selling it to quickly take the profit before it crashes.

Zoom shed off $19 today; really painful.

Dears,
Which online school.or website is best to learn ITIL V4 CDS and how can I get the textbook? The cost of textbook I have seen online is £85 which I cant afford.

monopolistic:
Hello thanks for everything oakpearl, do you think BAC is good at this price? For long term and why is trove fx rate 402 to a dollar?
Thanks

I asked Trove service desk officer on Friday why the company FX rate is N402? He said Trove is buying it at N410.

My think is that the company peg the price at N402 because of its delay in converting on time and market volatility

Dears, I am new here and willing to learn.
What are the fundamentals I need to know before investing in stocks. Will appreciate material or url of websites which can be of help.
Well done all.

Hi Sienna,
I am new in this house.
Kindly inbox me ur email address. mine is freemee.pls@gmail.com

Hi Siena,
My email address is freemee.pls@gmail.com, kindly inbox me yours.