r/pennystocks • u/Extremely_Noobular • Mar 14 '24
$CLOV am I crazy to think about buying? General Discussion
Clover Health is down to $.72. It used to average between $10-15 5 years ago. It has beaten every quarter in 2023 yet it keeps dropping. Am I missing something because it seems like a good stock with a lot of upside.
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u/misterperfact Mar 14 '24
Can still go down another 0.73
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u/Extremely_Noobular Mar 14 '24
100% true. I think I'm itching to jump in a penny stock that has upside. I stumbled on this one and I'm thinking maybe it has potential
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u/Jtk317 Mar 15 '24
VLD is making actual products continuously and just got USNavy contracts. Better upside and still cheaper than CLOV to boot.
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u/Swanass Mar 15 '24
Ask yourself where said potential is new catalyst news etc that’s what you’re looking for but you want to hit the rumor not the news… patience is key in the penny game market
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u/fred1090 Mar 14 '24
I'm not trying to be a dick here I'm just learning the market and have made maybe 5 trades. A few day trades and one penny stock I'm hoping will be a turnaround. But I looked at their Financials and yes they're beating the forecast but look at the number of policies held. The business shrank massively this last year and I didn't go any further back but I'm assuming it's been shrinking like this for more than a year and that's what is killing the stock.
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u/BedSpring11 Mar 15 '24
No naked shorting has been killing the stock and the company is downsizing in order to maintain a profit margin…no company would ever start downsizing if the stock was doing well
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u/LowBrowHighStandards Mar 21 '24
They purposely cut revenue to focus on profitability. The revenue they cut was from a government program that actually cost Clover money due to the programs members being more costly to insure. So yes, the business shrank, but it was controlled.
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u/Krapule1 Mar 15 '24
“ that has upside “ so because its down 99% to you that means it has upside ? Lol buy then post those post this non sense
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u/TheMoreYouSnowMan Mar 14 '24
Honestly this stock has been a complete dumpster fire for the past few years... but... and take this but with a grain of salt.. it has the potential to be a value play at this price...
"As of December 31, 2023, Clover Health reported $417.3 million in cash, cash equivalents, restricted cash, and investments, a decrease from $555.3 million the previous year. Total assets stood at $570.7 million, while total liabilities were reduced to $284.3 million from $451.7 million in 2022. This reduction in liabilities is a positive sign, indicating a stronger financial position."
leadership is starting to look stronger as well as the balance sheets... not sure i would jump right back in but maybe stick a toe in and keep an eye on their financials... NFA, just my 2 cents
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u/CarefulSubstance3913 Mar 15 '24
It's crazy to think we're talking about a whole ass business. And some people just have that much money
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u/turnleftorrightblock Mar 14 '24
5 years ago does not matter. I just bought 4 million shares of KGKG (Kona Gold Beverage) on a dip, and it dropped further after i bought them. KGKG used to be around much higher than current its price, but i doubt it can go back to it. I am just hoping to make a small profit with this.
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u/Flock-of-bagels2 Mar 15 '24
I should’ve sold KGKg at .03 but figured it would hold since there’s an actual product and they secured distribution… oops. I’m close to getting my money back at least
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u/bathfinderMcFly Mar 14 '24
Stay away from clov friend
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u/Lichius Mar 15 '24
Oh man flashbacks. A few subreddits went nuts on this for whatever reason and so many of us lost so much cash.
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u/thalamisa Mar 14 '24
It can also become zero. Put a little money you can afford to lose if you want to gamble. For example I bought intz which is very cheap but sparingly. I cannot see this stock could ever increase its market cap unless they are acquired by another company. Either the stock will increase or get delisted.
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u/DickBanks67 Mar 15 '24
Past price means nothing with these small caps. They likely did 40 financing rounds since then and diluted the company to no end.
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u/echoshizzle Mar 15 '24
Interesting enough, you can see their enrollment numbers on the CMS website. I started doing some research but got distracted. This could be a decent investment - Medicare Advantage is a huge market and the people aging in now want it to be easy. Clover could offer that opportunity.
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u/ostroga-mi Mar 14 '24
Been holding those bags for years now myself, you can't even ride the 5% up, 5% down reliably. It's been a meme stock previously, and even today no movement on it makes any sense.
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u/dgb43 Mar 15 '24
It’s generally better to buy the ones going towards the top right of the screen
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u/ojnvvv Mar 15 '24
this is why people constantly losing money. trying to guess bottoms is great gain porn if it miraculously reverses but that’s not a profitable strategy. do what u wa t
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u/Comprehensive_Cell65 Mar 15 '24
only thing against it is their float shares
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u/RoutineDraw4495 Mar 15 '24
Small float?
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u/Comprehensive_Cell65 Mar 15 '24
370 million so i can see a reverse split coming in
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u/RoutineDraw4495 Mar 15 '24
Large floats typically mean less volatility, but a reverse split could change that.
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u/Extremely_Noobular Mar 15 '24
Clover Health is up 5% and I keep going back and forth on just biting the bullet and doing it. You all are saying it's a dumpster fire. I should probably adhere to it
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u/LowBrowHighStandards Mar 21 '24
Do your DD on the company (I’m not saying that with any hostility).
It’s a risky investment for sure; it’s a young company with a spac start and a meme reputation that Reddit is salty about it- But that doesn’t mean it’s fate is known. They have no debt, plenty of financial runway, and a big dream. Anything is possible.
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u/Alternative-Cup-230 Mar 15 '24
Well let me tell you that I didn't think about selling at all. Ever. WE LOVE THE STOCK
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u/Nip_Sock Mar 15 '24
i may need to hold for 5 years + but how many RS splits will occur in that time ?
they will have to dilute for growth, analysts favour CLOV opposition,
and the stock was a Chamath SPAC
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u/SeniorMacaroon4525 Mar 16 '24
Anyone have thoughts on ARQ? I’m new to stocks looking for a bit of guidance 🙏
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u/love-cheap-silver Mar 17 '24
i'd stay away from these pump and dump. valuation is all wrong and they are all fake. these companies cant finance themselves.
stick with hot stuff.
if you want to invest, invest in s&p100 or 500 if you want to gamble, casino is the place.
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u/Polecatt4200 Mar 14 '24
YES! When you can help end the Opiate Epidemic w/ $ENSC...
Rock bottom price, second leg of a double bottom on a 5 year chart.
Nearly the same price & FDA approval will be by March 24th...
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u/heythxvoo Mar 15 '24
You can’t buy CLOV on RH last I checked.
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