NEW YORK CITY, NY – Davey Day Trader, the COVID-19 persona of Barstool Sports President Dave Portnoy. Portnoy has been under fire during the quarantine by the Wall Street suits for his sometimes noobish and unorthodox approach to stock trading. Last week, he laid down the gauntlet for the Wall Street know-it-alls and said he can pick random Scrabble tiles and produce better results than the suits and all of their financial analysis, spreadsheets, and predictions.
Well, that didn’t go well…or did it?
So picking three tiles from the bag last Friday, Portnoy picked RTX, Raytheon.
Portnoy said he dropped $200,000 on the stock to prove that picking random letters out of a Scrabble bag can beat the Wall Street blowhards.
Well, so far RTX dropped faster than a Christopher Columbus statue…but it’s not as bad as it sounds.
Raytheon stock was trading at a high of $68.36 last Friday. By the time the stock market closed on Wednesday Dave’s smush letter pick stock closed at $61.72.
Wall Street 28 Davey Day Trader 3 5:02 1st Quarter
Once again Portnoy finds himself down 28-3, except this time, there’s still 5 minutes left in the first quarter. There’s a long game ahead of us before this one is over.
We’re rooting for Raytheon to make a comeback because we’re huge fans of Dave and can’t stand mouthy know-it-alls in any industry. Market analysts this week openly mocked Raytheon and Boeing for taking huge dumps as the overall market continued to gain. You can probably blame COVID-19 for Raytheon’s stock suck. The stock dropped from nearly $100 per share, nearly 40 points to about $60 in mid-march. Since Raytheon specializes in just about every industry that isn’t operating at full capacity right now, it’s easy to see why Dave might have a great long term stock buy on his hand.
Hey Cuomo and Murphy, give RTX a fighting chance will ya?
Once America beats the crap out of COVID-19 and Governors stop with this weird science of who can do what and what day and who can go where, maybe the sector will pick up again and he can sell off Raytheon at $100 and slap the floppy right in the face of the Wall Street know-it-alls.
Davey Day Trader 34 Wall Street 28 0:30 4th Quarter
At the end of this, Portnoy could find himself taking a knee with 30 seconds left in the 4th quarter, up 34-28 against the dicks at Bloomberg and others who criticized him.
Can Dave beat the monkeys?
Who knows, maybe in 30 years if this playbook works out, stock market analysts won’t be talking about monkeys throwing darts at newspapers, but the time Dave Portnoy picked random Scrabble tiles out of a f’ng sack and beat Wall Street. You never know, by the end of 2020, we might even see Jim Cramer picking Scrabble tiles out of bags on a future episode of Mad Money.
$RTX Comes Out Of The Scrabble Bag, smush letters together and buy $200K of it. #DDTG
Posted by David Portnoy – El Presidente on Saturday, June 20, 2020