David

You don't have to call the bottom to recognize the opportunity. I'm bullish on AI infrastructure and the digital asset buildout. I'm not assuming the market has finished testing either thesis. Those are different statements. Markets have an expensive way of teaching the distinction. The bullish case is that investment in compute, memory, power and connectivity can translate into durable earnings growth. Digital assets offer a separate opportunity as adoption and financial infrastructure develop. Neither requires a repeat of 1999. Neither guarantees today's prices are cheap. Historical analogs help frame possibilities. They don't put the recovery on a calendar. What matters next is whether demand converts into revenue, margins and cash flow and how much of that success is already priced in. Prices falling while the business strengthens can create opportunity. Prices falling because the earnings case is breaking require a different response. A backlog isn't cash. A low forward P/E isn't protection if the estimates fall. And crypto adoption doesn't prevent liquidity shocks or forced selling. Another leg down is possible. So is a longer consolidation. I can remain constructive without dismissing either. The goal isn't to own everything that fell. It's to own businesses that can fund and execute their plans, at valuations that leave room for disappointment. Buy in stages. Keep leverage from dictating the exit. Leave room to add and room to be wrong. I don't need the exact low. I need the thesis to survive scrutiny and the position size to survive volatility. Meanwhile, digital-credit preferreds such as $SATA $SATS $STRC offer another way to approach the thesis: income, with issuer risk and terms that matter. Conviction without complacency. 😎 More research: hydrawealthadvisors.com/rese… Not FA. DYOR.

BREAKING: California voters just passed Prop 37. Buyers of newly built homes can now put down 3% instead of 20%. How: the state lends you the other 17% as a second mortgage, funded by up to $25 billion in bonds. On an $800,000 home that's $24,000 down instead of $160,000.

I see so many posts about $OPEN brutal sell-off yesterday, so here are my thoughts: - I still trust the management to be competent, it's not common to see this level of honesty and transparency - holding the stock sucks, IF you are not used to own high-volatility stock, yes, it's brutal. yes, that's part of the stock market game. welcome! but if you already did not sell immediately when the macro turned - meaning - we found out that rates need to go up, instead of down, as we were expecting in dec 25, jan 26. now it's too late, unless you think, they will go bankrupt. now, you will be selling into brutal capitulation, and at least me, I'am here for the long game, holding for stock to 50x. and I can do the financial model for that path, it's NOT my fantasy, retail frenzy or sth like that. there is market for that here. - I'm from Europe and the transactional inefficiencies in US real estate market are INSANE, that why my general bet here is very simple - there is sh*t ton of money being spent on unnecessary things when American ppl are buying their homes, $OPEN needs to cut this transactional bullsh*t and make it smoother, better and more ONLINE, more like 21st century stuff. if they do it, they will earn sh*t ton on money on the way. - why does it take so long? because the industry is full of regulatory barriers - mortgages? quite a hassle to do that? title, escrow? not that easy either. hopefully OMG getting rid of real estate agents? that is a big one. why this regulatory bullsh*t could be quite a good thing for you as a shareholder? because it just simply filters out the competition for Opendoor. that's why the industry is so DIFFICULT. short term it sucks, long term it could benefit the company. - so am I still holding? yes. I'm not selling for $1.4 😂 no fking way 🙂 shorts won this year, and what? congratz guys! good job. I can still make hundres of % returns, those who are short can only make 100% 🙂, I'm not here for 100% 😂 that's not my game. know your game and play in accordingly 🙂 Not investment advice! DYOR.

More demand doesn’t have to mean owning every home. Our bet: 3P becomes @Opendoor bread and butter. List is live. Buy is in beta. The three priorities from the $OPEN House:
Grow without overpaying.
Clear inventory.
Build operating leverage. Christy put Q4 marketing at around $20M, versus $5M in Q3. Q2 was also $5M - That spending helps acquire homes ahead of spring and summer. As we’ve stated, acquiring every customer doesn’t have to mean acquiring their home. List + Buy let Opendoor serve buyers and sellers without taking ownership. @nejatian pointed to roughly 9,000 true sellers already coming in each week. My take: that demand can feed Cash (1P), Cash Now, More Later (2P) and List (3P). Cash Now, More Later still means buying the home - with less capital upfront. Keep clearing the homes already owned. 3P is just getting started. I’m watching what happens when it works alongside 1P and 2P: existing demand, more ways to transact, and growth that doesn’t require owning every home. My bet: that’s how 3P will spread and scale. The products working together, not in isolation. If 3P executes, that’s what could make the whole model stronger: more transactions without tying up capital in every home. Less capital committed to balance sheet and more to move.

That’s it my guy - all we can do is learn as much as we can about our companies - it’s not always about timing it, it’s about TIME invested in great companies - it hasn’t and won’t be easy but greatness never is - the mission is the American dream, families and homeownership.

You get 6 months time from when reaching 0.99$ for a whole month at close for the first time. We don't know when it will be. And after the 6 months you get another 6 months normally. It should be at least 14 months time from now on before reverse split needed.

“I genuinely think that if we end up having 10% of the market five years from now, we should all be kind of disappointed, right?” -@nejatian Convertible notes due 2030. 10% of market share would be around 500,000 homes generating $20 billion a year. Assuming no dilution, that would push the stock price around $50/share. An almost 3000% increase from today’s stock price. I like this opportunity. The timeline makes sense. The housing market will recover, it always does. It’s not a matter of “if”, but a matter of “when”. Because of this, I will continue to buy every day. $OPEN

The AI buildout doesn't end at the data center. It ends where the spend finally earns its keep. 🛰️🤖 🛰️ SPACE $ASTS - Brazil just approved S-band spectrum for direct-to-cell. No towers, no dead zones. $RKLB - the real launch challenger to SpaceX $PL - daily imagery of Earth; defense customers 🚁 DRONES & DEFENSE $ONDS - drone autonomy with Army contracts $RDW - the military keeps reordering 🤖 ROBOTICS & EDGE AI $OUST - lidar perception $AMBA - edge AI vision chips as inference moves onto the device 👑 THE ANCHOR $SPCX - never bet against Elon Inference is moving off the rack and into the machine. The chokepoint follows it. Forced buyers are the best customers in capitalism. 👀

Let’s break down some numbers and objectives here. The intent: $20 million of Q4 marketing, while they watch the data coming back from the 3P programs already live. $5 million bought 6,000 contracts. In 2022, it took $81 million to do the same 6,000. At today’s efficiency, $20 million maps to about 24,000 contracts. The three objectives: clearing inventory, scaling acquisitions and operating leverage. Resale velocity has to keep pace in the midst of all this -scaling acquisitions and clearing inventory at the same time — for the operating leverage case to really work. $OPEN