Zach Morris Gone: Where Do SPACs Stand?

My grandmother used to tell me stories about the old days, a time of peace when the Furu Zack Morris kept balance between Short Sellers, Hedge Funds, Retail Traders, and Discord Wannabe Millionaires. But that all changed when the Hedge Funds and Short Sellers attacked. Only the Avatar mastered all four elements. Only he could stop the ruthless Short Sellers. But when the world needed him most, he vanished….. (Shoutout to all my Avitar: The Last Airbender fans)

Gone from Twitter, to be “discord only,” the Rolex wearing, supercar driving, hairless arms stock “guru” Zach Morris has deleted his Twitter account for good. This comes after a multi-day hiatus and a few weeks of being relatively less active. His departing tweet: a quick flex of his last public trade. A $1 Million P/L Gain from shorting Tesla.

While he flexed his cars and various watches on his 400,000 Twitter followers daily, his followers had been taking a beating from the stocks he was unsuccessfully trying to pump. Unfortunately for bag holders, his slew of GIFs were not enough to move any of his SPACs green.

CLOV – the stock that was supposed to hit $100 by summer according to Mr. Morris now sits at around $7.37 on 3/8/21. Unfortunately, we do not have Morris’ Tweets, but in the eyes of Hugh Henne – fellow millionaire and renowned pumper (not in a good way) – you should have been adding CLOV at $13 a month ago. If you took Hugh’s advice, you would currently be down a solid 43%. I wonder how Hugh and Zach are doing on this stock compared to their followers…

Other SPACs that were not able to make it past Morris’ massive pump & dump scheme of Atlas trading is $LOTZ and $UWMC. Both being featured on Hugh Henne’s podcast, Pennies Going in Raw – otherwise known as the place SPACs go to get a quick pump then die.

Twitter personalities such as Morris and Henne set huge, unrealistic price targets for stocks ($100 for CLOV by the end of Summer or $100 for FUBO) that offer nothing innovative to their industry and lack exciting financials. Instead, they allow the company’s CEO to appear on their top ranking podcast and answer easier questions than Joe Biden gets from Anderson Cooper.

Sure, their podcast is informative and helpful for traders who may just be getting into it. But by preying on new traders, they are causing more damage than good.

Most traders who aren’t as “knowledgeable” as Hugh and Zach woefully get left as bag-holders, watching their account slowly bleed. Unfortunately it seems like Jordan Belfort’s Father lost roughly $200,000 but luckily for him he has “transparent” traders who give out plays for free on Twitter!

I personally am unsure if I will be able to continue to trade stocks without the GIFs letting me know that Mr. Morris had made another million dollars.

The ability to see Morris hoping on a private jet, while the stocks he gave a 5x price target for continue to go red, gave me the motivation I needed to continue trading when my account was free-falling.

At this point, we can only hope a new Guru – or Avitar – comes along to lead FinTwit into battle with these Short Sellers.

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