Rain Man and I could be very happy next Friday when Tesla officially joins the S&P.
Originally Posted by :
Silverblatt said Tesla could be similar to the experience with Yahoo, when it was added. It was not a member of an S&P small or midcap index, and there was a lot of buying interest by institutions. Yahoo stock rose 50% between the announcement and its entry into the index, he said.
Funds managers that must buy the index will try to buy Tesla as near the Dec. 18 closing price as possible. "It's probably going to be one of the biggest market on close buy orders of all time," said Boockvar.
Oh, man. I don't want to be greedy, but come to papa.
I've actually been wondering if I should sell some to lock in the profit. It's been my second-greatest thing about 2020 after the Super Bowl. (Edit: third-greatest as long as I don't have to pay back my PPP money.) [Reply]
Originally Posted by Rain Man:
Oh, man. I don't want to be greedy, but come to papa.
I've actually been wondering if I should sell some to lock in the profit. It's been my second-greatest thing about 2020 after the Super Bowl. (Edit: third-greatest as long as I don't have to pay back my PPP money.)
You haven’t done the forgiveness paperwork yet? [Reply]
Originally Posted by Buehler445:
You haven’t done the forgiveness paperwork yet?
Not yet, and it's making me nervous. We have to go through our bank and they've told us that they'll be sending out the forms to subsets of companies between October and March. I just want to get it over and done with, but we have to wait until our name is called. [Reply]
Originally Posted by Rain Man:
Not yet, and it's making me nervous. We have to go through our bank and they've told us that they'll be sending out the forms to subsets of companies between October and March. I just want to get it over and done with, but we have to wait until our name is called.
Ugh.
The paperwork is not a big deal. It’s frustrating they won’t just do it. I had the payroll to cover the PPP so it wasn’t a big deal, but even if you had to use other expenses I don’t think it’s a big deal.
It’s also not great if they miss your FYE. Not sure if you’re 12/31 or have some other FYE with a C Corp but you can’t deduct the expenses associated with the forgiven, essentially making it income (they have a specific 1099 for loan forgiveness. I don’t know why they couldn’t do that but that’s just the preparer in me whining). And if things return to a normal level of income, and your income is down this year, it is not great to add income to a year you’ll be paying in a higher tax bracket.
Maybe you should get your beating stick and go to the bank. [Reply]
