Current Events > Stock Market General #37

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theAteam
06/29/21 10:40:54 AM
#102:


WSB starting pumping PSFE so of course it dumps today. It was making a nice comeback to my breakeven too.

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CableZL
06/29/21 10:50:21 AM
#103:


Thaumaturge posted...
That... doesn't sound good.

Yeah, the company was really really bad. I'm kinda interested to see how their stock does now, though.

tl;dr: GTT bought out the company I worked for and they were an extremely shitty company to work for. The CEO at the time was a snake and they had no idea how to manage our network or support our customers.

My history there:

November 2012: I got hired at a company called Outernet as an entry level NOC tech.
December 2012: One Source Networks bought Outernet
October 2015: GTT bought One Source Networks

GTT's CEO at the time, Rick Calder, came to speak to us. He was selling us on how great GTT was. The only thing I remember from his speech: "We'll be great to our large customers, but not so great to our small customers." They were the 4th largest global internet backbone provider at the time and were trying to compete with Level3, which was the largest at the time.

GTT would essentially buy a new company every quarter, do massive layoffs from that company as well as internally, and then repeat the cycle. One Source Networks had about 133 employees and they cut us down to about 70. They cut some critical people who were responsible for the maintenance and administration of important platforms like Solarwinds. Solarwinds started breaking and they never really fixed it while I was there (I was there about 7 months as a part of GTT).

As a part of the merger, they demoted me from network engineer to the NOC and told me to work trouble tickets. I was pissed. At first, they said I would only have to do it for 60 days and then I could pick where I wanted to go. 60 days turned into 90. 90 turned into 120. And then by the time they came to me with the offer of moving out of the NOC, I was already knee deep in the job search process to get the hell out of there. I didn't care any more.

Rick Calder was a snake in human form. OSN had a genius level network engineer that I was very fortunate to learn a ton from over the years. There was never a problem I went to him with that he didn't have a solution for in like 5 minutes. We had an all hands meeting one day where he told the whole company that they had completely integrated the OSN network with GTT's network. A few of us from OSN looked at the genius level network engineer and he shook his head. He had no idea what Rick Calder was talking about, LOL. The networks were definitely not integrated.

They put that genius level network engineer in the NOC, too. One day, he grabbed some network equipment to configure it for a customer and they got mad at him for configuring it because the NOC isn't supposed to do that, LOL. He put in his 30 days notice soon afterward and I knew I had to GTFO. At that time, the network engineer expertise rankings in the company:
  1. That genius level guy
  2. Another guy who had his CCNP
  3. Me (I was 1 exam away from CCNP at this point)


And I knew that once the genius level guy was gone, the 2nd guy was gonna be out, and then pretty much everything GTT couldn't figure out, which was most semi-advanced things about OSN's network and their customers, would fall to me. Even though I was in the NOC.

GTT had some policy where customers would need to put major support requests in at least 72 hours in advance or they would get ignored. A customer tried to follow this process. They put in a request for support on a Monday because they were moving to a new office that Friday. They needed a network engineer to reconfigure their routers and set their dynamic site to site VPN tunnels up again with new IP addresses.

Typically, they would just copy us all in on emails and we would handle it even if they made the request a couple days beforehand. If it was last minute, we would just do our best. I saw the request come in that Monday. I was very familiar with their network, so I offered to do the support. I was told not to because I was in the NOC and I needed to do trouble tickets. I insisted that I help them because of my rapport with that customer and my familiarity with their network. They refused and said they would take care of it. Tuesday morning came and no one had responded to him. The customer sent another email to check the status of the request. I again offered to help, but they snapped at me and told me not to. Wednesday morning came and still, no one had responded to him. The customer was getting a little panicky. He sent a bunch of emails that day trying to get a response.

Thursday rolled around and they still hadn't responded. At this point, he's panicking. I'm pissed because I'm watching all this go down and they essentially handcuffed me. Thursday afternoon (they're moving offices the next morning), the customer is freaking out. Then at like 3:30pm, someone comes over to me and says "Hey CableZL, can you help them with this?"

I was fucking livid. I could have been prepping to do the work all week, but because they ignored it until the last fucking minute, I had to stay up all night to plan and prepare. I got it done, but I was very upset. This is what they meant by "not so great to their small customers."

I got my CCNP and was out of there within 30 days. The guy who got promoted to voice engineer at the same time I made network engineer left a few months after I did. He had a LOT of money in their stock. He ended up trying to hold on and lost about $40k when the stock crashed.

They had a class action lawsuit against them because they had been lying to their investors. They eventually fired Rick Calder. They've also sold off all of their network backbone and they're purely a managed services provider now.

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CableZL
06/29/21 10:55:10 AM
#104:


There are some other details about GTT back then that I'm not sure I can even legally share, but... that run up to $65/share was definitely not going to be well-lived.

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Lebronwon
06/29/21 10:58:32 AM
#105:


theAteam posted...
WSB starting pumping PSFE so of course it dumps today. It was making a nice comeback to my breakeven too.

That just the way WSB does their thing. They short term minded with their buy calls that expire next month. I like Goldman Sachs, JP Morgan, Jefferies, Morgan Stanley, etc pumps more. When they do their upgrades it can often cause more sustained upward movements since they do price targets so people have a price in mind to dump.

I got lucky and GS just upgraded one of my stocks. It was CPNG and now they up 9% right now thanks to that manipulation.

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Thaumaturge
06/29/21 10:58:59 AM
#106:


CableZL posted...


Yeah, the company was really really bad. I'm kinda interested to see how their stock does now, though.

tl;dr: GTT bought out the company I worked for and they were an extremely shitty company to work for. The CEO at the time was a snake and they had no idea how to manage our network or support our customers.

My history there:

November 2012: I got hired at a company called Outernet as an entry level NOC tech.
December 2012: One Source Networks bought Outernet
October 2015: GTT bought One Source Networks

GTT's CEO at the time, Rick Calder, came to speak to us. He was selling us on how great GTT was. The only thing I remember from his speech: "We'll be great to our large customers, but not so great to our small customers." They were the 4th largest global internet backbone provider at the time and were trying to compete with Level3, which was the largest at the time.

GTT would essentially buy a new company every quarter, do massive layoffs from that company as well as internally, and then repeat the cycle. One Source Networks had about 133 employees and they cut us down to about 70. They cut some critical people who were responsible for the maintenance and administration of important platforms like Solarwinds. Solarwinds started breaking and they never really fixed it while I was there (I was there about 7 months as a part of GTT).

As a part of the merger, they demoted me from network engineer to the NOC and told me to work trouble tickets. I was pissed. At first, they said I would only have to do it for 60 days and then I could pick where I wanted to go. 60 days turned into 90. 90 turned into 120. And then by the time they came to me with the offer of moving out of the NOC, I was already knee deep in the job search process to get the hell out of there. I didn't care any more.

Rick Calder was a snake in human form. OSN had a genius level network engineer that I was very fortunate to learn a ton from over the years. There was never a problem I went to him with that he didn't have a solution for in like 5 minutes. We had an all hands meeting one day where he told the whole company that they had completely integrated the OSN network with GTT's network. A few of us from OSN looked at the genius level network engineer and he shook his head. He had no idea what Rick Calder was talking about, LOL. The networks were definitely not integrated.

They put that genius level network engineer in the NOC, too. One day, he grabbed some network equipment to configure it for a customer and they got mad at him for configuring it because the NOC isn't supposed to do that, LOL. He put in his 30 days notice soon afterward and I knew I had to GTFO. At that time, the network engineer expertise rankings in the company:
1. That genius level guy
2. Another guy who had his CCNP
3. Me (I was 1 exam away from CCNP at this point)

And I knew that once the genius level guy was gone, the 2nd guy was gonna be out, and then pretty much everything GTT couldn't figure out, which was most semi-advanced things about OSN's network and their customers, would fall to me. Even though I was in the NOC.

GTT had some policy where customers would need to put major support requests in at least 72 hours in advance or they would get ignored. A customer tried to follow this process. They put in a request for support on a Monday because they were moving to a new office that Friday. They needed a network engineer to reconfigure their routers and set their dynamic site to site VPN tunnels up again with new IP addresses.

Typically, they would just copy us all in on emails and we would handle it even if they made the request a couple days beforehand. If it was last minute, we would just do our best. I saw the request come in that Monday. I was very familiar with their network, so I offered to do the support. I was told not to because I was in the NOC and I needed to do trouble tickets. I insisted that I help them because of my rapport with that customer and my familiarity with their network. They refused and said they would take care of it. Tuesday morning came and no one had responded to him. The customer sent another email to check the status of the request. I again offered to help, but they snapped at me and told me not to. Wednesday morning came and still, no one had responded to him. The customer was getting a little panicky. He sent a bunch of emails that day trying to get a response.

Thursday rolled around and they still hadn't responded. At this point, he's panicking. I'm pissed because I'm watching all this go down and they essentially handcuffed me. Thursday afternoon (they're moving offices the next morning), the customer is freaking out. Then at like 3:30pm, someone comes over to me and says "Hey CableZL, can you help them with this?"

I was fucking livid. I could have been prepping to do the work all week, but because they ignored it until the last fucking minute, I had to stay up all night to plan and prepare. I got it done, but I was very upset. This is what they meant by "not so great to their small customers."

I got my CCNP and was out of there within 30 days. The guy who got promoted to voice engineer at the same time I made network engineer left a few months after I did. He had a LOT of money in their stock. He ended up trying to hold on and lost about $40k when the stock crashed.

They had a class action lawsuit against them because they had been lying to their investors. They eventually fired Rick Calder. They've also sold off all of their network backbone and they're purely a managed services provider now.

I paled as I read most of that and wondered if I needed to invest in some rope for myself, but now at the end it looks like the company is in good condition again, so here's hoping it hits $3 again soon. But that sounded really rough for you. Good to see you're doing better now.
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Thaumaturge
06/29/21 11:01:17 AM
#107:


CableZL posted...
There are some other details about GTT back then that I'm not sure I can even legally share, but... that run up to $65/share was definitely not going to be well-lived.

I'd be satisfied with a fraction of that. I'd probably be happy with 1/10 of that.
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E_S_M_Z
06/29/21 11:02:37 AM
#108:


Oof, thanks for the story, CableZL. I don't have much to add, but you took the time to write it out, so I figured you'd appreciate knowing somebody read it, lol.

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CableZL
06/29/21 11:05:07 AM
#109:


E_S_M_Z posted...
Oof, thanks for the story, CableZL. I don't have much to add, but you took the time to write it out, so I figured you'd appreciate knowing somebody read it, lol.

LOL, thanks. I get a little eye twitch when GTT is mentioned, so I just feel the need to share the story. They're probably the 2nd worst company I've worked for. The worst being MCI as a telemarketer.

One thing I realized after a little while of working there was that NO ONE in the office in Austin, TX seemed to enjoy working there. I mentioned we had about 70 people left after GTT cut us down from 133. There was a going away party every week because someone from OSN was quitting. I was so happy when it was my turn for the going away party, LOL.

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Trumpo
06/29/21 11:11:14 AM
#110:


WSB is full of bots and shills
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Lebronwon
06/29/21 11:11:18 AM
#111:


I was just looking up Coupang and found out Goldman Sachs was trying to find out if they could get back their 265 million loan back this year instead of next year yesterday. And now today Goldman Sachs comes out and upgrades their stock to pump them.

https://pulsenews.co.kr/view.php?year=2021&no=622581

lmao Like I said earlier this is why im long GS they can openly manipulate the market in their favor like this and no one cares.

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Lebronwon
06/29/21 11:41:54 AM
#112:


project_night posted...
NVDA has been on fire. I'm thinking I should sell some right before the split. Bought the dip back in March when it went under $500.

Is it done growing though? If it has room to keep growing i'd hold on to the stock even through a split.

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krazychao5
06/29/21 11:45:00 AM
#113:


Lebronwon posted...
Is it done growing though? If it has room to keep growing i'd hold on to the stock even through a split.
theoretically the split should help it grow more.

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vbty3
06/29/21 4:43:54 PM
#114:


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E_S_M_Z
06/29/21 4:45:30 PM
#115:


Man, why do I even bother checking my stocks on Tuesdays lol.

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littlebro07
06/29/21 4:51:52 PM
#116:


ENZC still up like 20% from a week ago

*crawls back into fetal position*

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Trumpo
06/29/21 4:57:47 PM
#117:


AMC will probably barcode for another month and that's ok.
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vbty3
06/29/21 5:03:03 PM
#118:


I need HCMC or MMEX to pull an ENZC

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fan357
06/29/21 5:08:37 PM
#119:


Dang Nvidia. I might sell just to make a few bucks. Or should I hold until after the split?

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Trumpo
06/29/21 6:14:36 PM
#120:


fan357 posted...
Dang Nvidia. I might sell just to make a few bucks. Or should I hold until after the split?
I have you tagged as paperhands
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Thaumaturge
06/29/21 6:22:26 PM
#121:


Oh, GTT. $2.47 to $2.41 to $2.67 to $2.48. What a rollercoaster of a shit day.
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fan357
06/29/21 6:49:55 PM
#122:


Trumpo posted...
I have you tagged as paperhands

:(

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tommybel89
06/29/21 7:02:20 PM
#123:


The last few days of the TRCH and MMAT merger have been a mess. My savings account still hasn't updated with the changes. I'm down 10's of k's waiting for the dust to settle lmao.

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Lebronwon
06/29/21 7:04:35 PM
#124:


vbty3 posted...
u up?

Yep. CPNG covered the majority of the losses I had in other stocks so I ended green. Kinda surprising since they had that major fire that killed a firefighter and people in South Korea was saying to boycott them. But they got upgraded and that saved the day.

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C6Driver
06/29/21 7:04:52 PM
#125:


vbty3 posted...
I need HCMC or MMEX to pull an ENZC
I also have all 3. Other than ENZC, it is my opinion that HCMC has at least something resembling a pulse, unlike MMEX.


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Thaumaturge
06/29/21 7:14:50 PM
#126:


MMEX is worth $0.00055. How is that a thing? What even is that?
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littlebro07
06/29/21 7:27:12 PM
#127:


Thaumaturge posted...
MMEX is worth $0.00055. How is that a thing? What even is that?


ENZC was worth less than that a year ago lol

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#129
Post #129 was unavailable or deleted.
Thaumaturge
06/29/21 9:11:27 PM
#130:


littlebro07 posted...


ENZC was worth less than that a year ago lol

Yes, but ENZC had better showings this year with a 52-week high of $0.96. MMEX looked awful this year with a 52-week high of, I think, $0.025.
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lilORANG
06/29/21 10:33:26 PM
#131:


MMEX was a scam. They announced a 10k/1 reverse split lol. Nobody's going to buy a shell with no active business activity for the new price and it will just keep going down.
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Admiral_Zero
06/29/21 10:55:58 PM
#132:


Trumpo posted...
AMC will probably barcode for another month and that's ok.

Translation?

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Trumpo
06/29/21 11:20:03 PM
#133:


AMC in the 50's is consolidation like when it was $10-$13.
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vbty3
06/30/21 7:43:47 AM
#134:


How do yall find these runners?

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Lebronwon
06/30/21 8:21:24 AM
#135:


vbty3 posted...
How do yall find these runners?

I'm guessing for some it is either luck or going to a site like finviz and seeing the top gainers and jumping in on those.

I'm kinda wondering if TTCF is in the middle of a pump and dump due to its option activity from yesterday but cant find any info around the social media type sites for that type of sentiment. It just the usual useless info like take that hedge funds and $25 end of day. It seems like one of those pump and dumpers targets anyway since it has a small float, small market cap, and percentage of float shorted above 20%.

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theAteam
06/30/21 8:43:20 AM
#136:


vbty3 posted...
How do yall find these runners?

You can make a lot of money if you get in early and get out early on wsb tickers.

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Lebronwon
06/30/21 8:49:53 AM
#137:


theAteam posted...
You can make a lot of money if you get in early and get out early on wsb tickers.

In general does WSB ever offer long term stock tips? Are it still short term get in and get out (pump and dump) type stuff. I havent been following since it gets tiring the whole moving on to new tickers. Im more into buy and forget type stocks where you dont have to check portfolio daily.

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Lebronwon
06/30/21 9:06:43 AM
#138:


Lebronwon posted...
In general does WSB ever offer long term stock tips? Are it still short term get in and get out (pump and dump) type stuff. I havent been following since it gets tiring the whole moving on to new tickers. Im more into buy and forget type stocks where you dont have to check portfolio daily.


I kinda found the answer to my own question off the top thread over there

https://www.reddit.com/r/wallstreetbets/comments/oahtji/a_brief_look_at_me_missing_out_on_every_popular/

So I haven't really missed much not visiting there.

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doomcrusader
06/30/21 9:10:11 AM
#139:


Lebronwon posted...
I kinda found the answer to my own question off the top thread over there

https://www.reddit.com/r/wallstreetbets/comments/oahtji/a_brief_look_at_me_missing_out_on_every_popular/

So I haven't really missed much not visiting there.

I'm not into meme stocks, but the posts there can be pretty funny. I'll go there on occasion to see the memes of people losing thousands, or someone winning big.

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Lebronwon
06/30/21 9:21:27 AM
#140:


doomcrusader posted...
I'm not into meme stocks, but the posts there can be pretty funny. I'll go there on occasion to see the memes of people losing thousands, or someone winning big.

Im not either. Just feels like you are entering a cult when in some of those threads. The upvote system probably plays a part in it since if you say something against the crowd it can get your post hidden.

It is interesting they turned investing to some people as an us against hedge funds thing. Rather than looking for general trends going on and invest based off that. But I guess short term people can make money off it.

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E_S_M_Z
06/30/21 9:28:08 AM
#141:


The dream was initially to send everything through the moon by all cooperating, but obviously that isn't tenable, and you get meteoric rises and falls. You can absolutely make money by following their trends as long as you get out at the right time, but if you get greedy and hold too long or buy when it's already up, you'll probably lose.

I happen to know this, because I got a few hundred bucks of Clover, it basically doubled, and I got a little extra...right before it dropped lmao. If it was the next AMC, I would've made a killing, but it wasn't, it rose for one day and I'm still down about $60 a month later lol.

Meanwhile, AMC, yeah, hindsight. I should've sold all my stocks and put it in AMC in Jan/Feb lol. I also invested a few hundred bucks in that and it went up several fold.

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littlebro07
06/30/21 10:07:32 AM
#142:


ENZC getting slaughtered again

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E_S_M_Z
06/30/21 10:08:15 AM
#143:


littlebro07 posted...
ENZC getting slaughtered again

Must be a day that ends in "day"...

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Flockaveli
06/30/21 10:11:35 AM
#144:


ENZC losing me money. As if that wasn't the plan all along.

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Tyranthraxus
06/30/21 10:19:05 AM
#145:


They cancelled my IPO order because too many people buying and not enough shares to go around. What does this usually mean when it starts trading normally?

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doomcrusader
06/30/21 10:36:03 AM
#146:


littlebro07 posted...
ENZC getting slaughtered again

There goes the Monday gains.

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TheGoldenEel
06/30/21 10:38:03 AM
#147:


Days like this I just use the Zillow value of my home to feel okay about myself

at least that market is consistently great (right now)



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ToPoPO
06/30/21 10:47:04 AM
#148:


Stupid ass meme stock
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E_S_M_Z
06/30/21 10:48:07 AM
#149:


Has anyone noticed that meme stocks and penny scams are really fun they go up, and not that fun when they go down? Thinking of applying for grant money to study this formally.

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krazychao5
06/30/21 10:57:19 AM
#150:


bought my house at the peak and closed it on monday. but i am seeing new listings in teh city for much shittier looking homes, smaller sizes, and listing for same or more. we got a good deal

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tommybel89
06/30/21 10:57:47 AM
#151:


Meme stocks look fun. But getting in on the ground floor and being up 1500% is better.

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E_S_M_Z
06/30/21 11:04:13 AM
#152:


krazychao5 posted...
bought my house at the peak and closed it on monday. but i am seeing new listings in teh city for much shittier looking homes, smaller sizes, and listing for same or more. we got a good deal

Congrats on the house! It's a huge event, just getting a house is a big accomplishment, even better that you did pretty good despite the high better.

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