Thread regarding AT&T layoffs

What is Elliot's Strategy Now???

So Elliot sold all of their AT&T position. They also sold much of the rest of their portfolio. They also bought a very significant number of ETF QQQ Put Options. QQQ is a large-cap growth ETF with large positions in the FAAGM stocks (Facebook, Apple, Amazon, Google, and Microsoft). A Put option gains in value when the underlying stock declines in price.

In short, it appears that Elliot believes the market is going to hit the skids, especially the high momentum FAAGM stocks that have gained the most in the past six months. They may have sold out their AT&T position as part of their belief that an overall decline in share prices, including T, is imminent.

That doesn't mean they are not going to have a new significant position in AT&T in the relatively near future. They don't give up that easily.

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| 2291 views | | 9 replies (last September 2, 2020) | Reply
Post ID: @OP+16GdsuwB

9 replies (most recent on top)

With Tesla, Apple, Square, Facebook making daily moves that AT&T could not make in years if they are spending time and resources on AT&T, they are plain stupid.
They realized it and are moving on.

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Post ID: @4zlu+16GdsuwB

Not everything Elliott touches turns to gold. I’d say their success rate is really not that great. So just because they feel the market is going move in a direction does not mean it will. They thought AT&T would push higher with some changes. See how that worked for them?

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Post ID: @3hoo+16GdsuwB

I don't care what their strategy is now, glad their influence is gone. We are perfectly capable of running this into the ground ourselves, thanks very much. Now get back to work you bunch of racists.

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Post ID: @yoz+16GdsuwB

If Elliot believes there is going to be a near term market decline, that would trump any belief in an eventual jump in AT&T earnings and share price. There will be plenty of time for Elliot to get back into AT&T if an overall market decline does occur, after which they can buy in at a lower price.

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Post ID: @jhm+16GdsuwB

@OP+16GdsuwB..They dont give up that easily? THEY ENTER IN NOVEMBER AND CUT IN JUNE.

What are you talking about, Lmao

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Post ID: @bst+16GdsuwB

hehehee he said faag-m heheeh heheh

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Post ID: @pnv+16GdsuwB

Why waste time with T when you can make more $$ riding the FANG wave up and down

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Post ID: @pbj+16GdsuwB

tldr

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Post ID: @ahf+16GdsuwB

Cool story

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Post ID: @ibv+16GdsuwB

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