Goed Stock price has dropped % since its IPO in early 2020.
Now, many retail investors who have been holding the bag are turning to Goed Stocktwits for insights.
But Is Goed Stocktwits a serious forum disciplined investors should turn to for their due diligence?
Goed Stocktwits has 9000 Followers looking for elusive Insights
Stocktwits touts itself as a real time trade and investing ideas forum with the largest community of traders and investors.
That is a great marketing motto.
However, when it comes to the reality, the story is not quite the promise is all about.
Example in case, 1847 Goedeker Inc (Stock Ticker: GOED) Stocktwits page has almost 9000 followers.
For a would-be investor in the GOED Stock, you will be hard pressed to find any serious ideas on how to trade or invest in this stock.
We are not even talking about the free version of Stocktwits.
I have been a paid member of Stocktwits for several years therefore I can confirm that GOED Stocktwits is not the exception here.
This is just a confirmation of what I have seen over the years which prompted me to write the piece:
Beware: Stocktwits is Not what you think
You Do not know Who is Who on GOED STOCKTWITS
Instead of trade ideas, you ought to expect banters exchange between the bulls and bears.
However, since this is a social media (albeit for stocks), you do not really know who is masquerading a bull or bears.
In researching this topic, I discover that the main bear on GOED Stocktwits is a follower who goes by the handle “Soda9111”.
Soda9111 posts on the GOED Stocktwits several times per day.
Here is a series of 4 post from June 28, 2022, alone.
This follower of GOED stock on Stocktwits does not have many followers himself.
Only 15 according to the user profile which was created early 2021.
The content of GOED Stocktwits forum is a mix of humor, followers sharing unverified data to support their bullish or bearish hypotheses.
Therefore, it is fairly difficult for retail traders to objectively use this information as a trade idea for GOED Stock.
It is not a surprise that other users have questioned his credibility as depicted by the view below.
Follower of GOED stock on Stock Twits seem to be the most levelheaded of all.
Despite his own speculation, he does admit when his hypothesis is wrong on the company.
In essence, this proves the importance of doing your own DD (Due Diligence) as discussed in a previous tutorial.
Goed stock Price is down 90% since its IPO
1847 Goedeker Inc (NYSE: GOED) is an online shopping platform for appliances, furniture and all related home goods.
The company went public Friday July 31, 2020, at the attractive price of $9.40.
By the last week of October 2020, it briefly reached at all time high price of $17.75 before settling back down in the $5-$6 range.
In early 2021, a mini rally took the stock to$14.91.
Those who invested in GOED Stock above $10 have been holding a heavy bag ever since.
Indeed, the stock has gradually plummeted all the way down to $1.20!
In fact, the current 52-week high for the GOED stock is below $5.
Goed Stock Forecast amid Rebranding Rumors
Because there are no analysts rating on GOED stock, this is leaving room for wild speculations from GOED Stock Stocktwits investors.
Everyone is eager to interpret a piece of information taken out of contest in order to validate a simple opinion on the stock forecast.
Especially now that GOED stock is a penny stock, it will not take much of a rally let’s say from current $1.2 to $2 or so to attract more followers and would be investors.
One recent piece of news discussed on GOED Stocktwits is a potential rebranding coming in 2023.
This may serve as a big catalyst for the GOED stock price according to the bulls on the social media platform.
Goed Investor Relations
GOED Investor Relations page does not provide much in terms of news.
Here is how to reach out to GOED stock investors Relations.
You are better of following a serious YouTuber with a thorough analysis on GOED stock.
Here is one such recent example:
People Also Ask FAQs
Is GOED stock have a new name ticker in 2023?
There is speculation of re-branding in 2023.
So, it is very likely that Goed will have a new ticker in 2023.
FINAL THOUGHTS ON GOED STOCKTWITS
GOED stock went from a nice promising affordable stock for retail investor toa penny stock in less than 2 years.
Turning into GOED stocktwits may not be the best way to perform your due diligence before building a position.
Hold a Master Degree in Electrical engineering from Texas A&M University.
African born – French Raised and US matured who speak 5 languages.
Active Stock Options Trader and Coach since 2014.
Most Swing Trade weekly Options and Specialize in 10-Baggers !
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