My Crypto Video, Metaverse Opportunities, And Lots Of Stocks

Here’s the transcript from this week’s Trading With Cody Live Q&A chat.

Q. Did I miss the video where you talk about bitcoin and cryptos with the CEO of Immersed? There wasn’t an attachment or link in my email.

A Here’s the link. Sorry: EASY-TO-UNDERSTAND Explanations of Bitcoin

Q. The metaverse is a great investment theme. Have you looked into any crypto focusing on the metaverse? If so, what are you looking into?

A. I think ETH is probably the surest winner in the crypto world for the metaverse. According to a US News article I just pulled up about the metaverse: “These seven names are the top metaverse stocks to invest in: Facebook Inc. (FB) Microsoft Corp. (MSFT) Unity Software Inc. (U) Roblox Corp. (RBLX) Amazon.com Inc. (AMZN) The Walt Disney Co. (DIS) Nvidia Corp. (NVDA).” Aren’t you glad I got you into ETH back in 2018 at $500 (Read: “Trade Alert: Building out my basket of cryptocurrencies”), along with FB at $25, AMZN at $500 or something, and NVDA back at $8, long before the US News was writing about the best ways to invest in the metaverse. Do you have other metaverse-centric cryptos you think I should check out? Please share, if so. Thank you!

Q. Crypto’s with a metaverse focus I know are MANA, SAND and ENJ. I’m sure there are others.

A. Thanks Rahul, we’ll take a look.

Q. Hey Cody. Two names come to mind for your new coin venture- “Crapto” Coin and “Black Hole” Coin

A. Haha, I love ’em both, except the Black Hole Coin is supposed to be a positive thing!

Q. My vote would be for an anti-crypto.

A. Yes, but how?! LOL.

Q. Hi Cody & Team, I’m writing in response to Cody’s comment about a SpaceCoin. I’ve also been looking into the crypto space and am completely fascinated by utility coins such as Livepeer (peer-to-peer video sharing) and Helium (HNT), aka the People’s network. I think these examples offer a possible hint into a type of SpaceCoin that may or may not exist. SpaceX is already launching mini-satellites to provide coverage for global internet via its Starlink service but is not based on crypto like HNT. There may be other use cases to fund a decentralized, user/crypto supported satellite network for other practical applications or uses. Examples include satellite imagery or examples like Spire’s use cases in their recent investor presentation. Maybe a smart-contract-based token that enables services (e.g. fractional sharing and/or use of satellites)? Hubble is a perfect example where there is public use rights but extreme competition (not every proposal is accepted..1 out of every 5). One possible consideration is to build on top of existing tokens such as Cardano or maybe even Chainlink for smart contract services. I’ll ping you if I think of something else. Thanks.

A. Thank you for all of this, I love it! I think you’re onto something with this concept. Let’s do a group zoom call about these AntiCryptCoin and SpaceCoin ideas on Wednesday next week at 4:30pm ET if you all can make it. Everybody is welcome. We’ll use the usual Trading With Cody Chat zoom link for it. Here are the details for the Zoom call.

Q. Create a space coin that would allow us to own a percentage of SpaceX.

A. Unfortunately, that would be a security then.

Q. I like the crypto ideas Cody. It sounds like a conversation with Naval might be in order. On a different note, does anyone know how to identify locations where Amazon is building fulfillment centers that will employ 1000 or more people? I have some ideas for housing investment.

A. Thanks. Can you set up a talk with me and Naval? I don’t know about how to find the Amazon fulfillment center question, but I get where you’re going with the idea. As long as you’re early enough when you get the properties, it might be a good idea.

Q. Cody, have you researched ADA (Cardano)? Any thoughts?

A. ADA looks good and I actually own a little bit of it now in one of crypto wallets courtesy of someone buying it on my referral code or something. I don’t own much of it but I like it and would love to build up a reasonable-sized position in Cardano if/when the cryptocurrency market crashes again next time.

Q. Are you expecting more correction ahead or do we go higher from here? Thanks.

A. Not sure it’s helpful for me to make market predictions, but okay, here goes. Feet-to-fire, I’d expect we slow grind lower for the next month or two and then there’s a rally into year-end.

Q. In your “latest Positions” you wrote “I think QCOM could get to $200 by year end.” I tend to take things literally, and it’s unlike you to make this kind of short-term prediction. So, I’m wondering if there’s anything specific behind this, e.g.- possibly something you anticipate in October’s 3rd quarter earnings, that could drive the price up before year end.

A. I don’t know why I felt cavalier enough to write that about a year-end potential price for QCOM as I should have known it would be taken too literally by some of my subscribers. I do think it’s possible that QCOM gets to $200 by year-end but I wouldn’t want to bet on it other than just holding onto the QCOM we’ve got already.

Q. I don’t have any position in RKLB so far. Should I start nibbling some at $15? Also, should I make it a small sized position? Thanks.

A. I always suggest getting started with a small position in a great company like this right away but leaving yourself some room to add more. Maybe 1/4 or so of a full position to get started and then nibble more in coming weeks and months.

Q. At what price would you like to replenish your sold RKLB shares?

A. I’d start to nibble some back around $14 or so and then at $12 I’d get aggressive.

Q. Cody, do you ever sell puts to generate income and get in lower? I have RKLB but sold oct. 12.50 for 1.34. Pocket the premium or buy for 11.16? I wouldn’t mind either way it goes.

A. In the hedge fund I do this rarely and never in my personal account. But yea, sometimes especially when a stock gets crazy volatile like RKLB has and the premiums on the options skyrocket (no pun intended).

Q. Any news for BKSY?

A. Not that I see, but small caps like this are very volatile anyway.

Q. Hi Cody, could you please take a look at Virgin Orbit stock (NGCA)? They already have a few successful launches.

A. Yes, we’re on it. Let you know if we like it and will send out a Trade Alert if we buy it of course. Thank you.

Q. Have you added anymore fubotv since your first buy a couple of days ago?

A. Yes, just a bit, still have room to add more.

Q. I started nibbling ABNB at 143, but I did very little at that price. The price went up to 156 and now it’s at 166. Should I keep nibbling more at these high prices? In general, what is your recommendation when the prices go higher like this whenever we start nibbling?

A. I try to have my cake and eat it too by nibbling more over time. Even if the stock goes up, I’ll force myself to pay up for the second or third tranche if I didn’t get enough when I started buying it. There’s no science to it, but you do the best you can to make the stock market art look pretty.

Q. What do you rate UBER (apologies if I missed it). How big of a position do you have in it now and plan to make it? What prices would you nibble and then get aggressive? Is there a risk that TSLA cars will turn into autonomous taxis, or is this way off?

A. I’d rate UBER an 8 while it’s below $40. I have a mid-sized and plan to make it a large position in coming weeks. I’ve nibbled around these $39 levels and I’d be aggressive about buying more near $35 if it gets there. I think UBER will buy a fleet of self-driving Teslas if Tesla figures out self-driving, which is unlikely for the next few years anyway.

Q. Cody – with the China crackdown, are there any thoughts on Alibaba – BABA? Stock is trading right near 52w low.

A. I prefer Ten Cent (TCEHY) and JD to BABA.

Q. What’s your stance on NKLA? Are you still holding calls on it?

A. Yes, but it’s looking unlikely they’ll pay. I own a little bit of NKLA common stock too.

Q. Cody, have you taken a look at APP yet? Its last quarter revenue is growing 123%!

A. Trading at 10x this year’s sales and 9x next year’s sales, trading at 100x next year’s earnings estimates and topline growth is supposed to slow to 20%ish next year. Looks expensive, but it is an interesting play.

Thanks all, that’s a wrap!