Is PSA safe in all this? - Page 2

dfr52 · 06-03-2019, 09:16 AM

Quote:

Originally Posted by steadned36

Surely CLCT has a game plan in place for this.

-Sever ties with bad actors
-Improve grading standards and anti-fraud measures
-Raise price of grading
-Further establish themselves as market leader, now distinguished further by new measures

Short-term inverted bell curve. Just about everyone comes out ok or better in 6 months, except those bad actors of course.

That would seem like a good idea to me.

palmetto7 · 06-03-2019, 10:08 AM

CEO is going to have to address this situation. Stock down 5 percent as of now. Could be a bloodbath within a few days with no response?

Sent from my SM-G950U1 using Tapatalk

Carrbeaz · 06-03-2019, 10:34 AM

Quote:

Originally Posted by gymratcards

Down 4% so far this morning. $7 million+ off their market cap.

6.27% as of now

CMpunk13 · 06-03-2019, 10:35 AM

I should have bought put options once this was discovered.

I do wonder if their coin business has this same type of fraud happening.

Brndan130 · 06-03-2019, 11:18 AM

PSA may want to consider using the anti-fraud marking they use with their autograph authentication. I would think that along with photographing the cards they grade could help to minimize the “professionally” altered cards from slipping by. I understand it’s not a perfect solution, but could be a starting point to explore and to work with the other major grading companies, SGC & BGS, to create some type of standard measure across the board.

JMarchand1981 · 06-03-2019, 11:45 AM

Quote:

Originally Posted by rcmb3220

I wouldn’t short a stock with such a small market cap. Also worth pointing out that coins make up a much larger part of their business. I would sell the stock if I had shares though.

This guy is correct. At a sub $200mm market cap, it could be bought out at a premium by a hedgie and then all of the inexperienced shorts would play victim to market mechanics.

If I owned it, I would sell puts and capitalize on someone thinking they are ahead of the market.

caflisch78 · 06-03-2019, 01:53 PM

-8.06% .... knew I shoulda traded options this am!

I texted my buddy this morning who works at PSA, no reply yet.

coreywt · 06-03-2019, 03:32 PM

Quote:

Originally Posted by caflisch78

-8.06% .... knew I shoulda traded options this am!

I texted my buddy this morning who works at PSA, no reply yet.

Maybe he's busy updating his résumé.

jr24ai3 · 06-03-2019, 04:08 PM

Quote:

Originally Posted by caflisch78

-8.06% .... knew I shoulda traded options this am!

I texted my buddy this morning who works at PSA, no reply yet.

You know someone who works at PSA? Prepare to be investigated!

caflisch78 · 06-03-2019, 06:13 PM

Quote:

Originally Posted by jr24ai3

You know someone who works at PSA? Prepare to be investigated!

He's a software engineer, former coworker. He told me he's not allowed anywhere near the grading process so i'd doubt it. lol

06-03-2019, 01:53 PM	#32
caflisch78 Member Join Date: Jul 2010 Location: Southern Cali Posts: 6,892	-8.06% .... knew I shoulda traded options this am! I texted my buddy this morning who works at PSA, no reply yet. __________________ I collect Mike Trout RC and Prospect cards Follow me below for a view of my PC IG: https://www.instagram.com/caflisch78/

06-03-2019, 10:08 AM	#27
palmetto7 Member Join Date: Aug 2016 Posts: 3,429	CEO is going to have to address this situation. Stock down 5 percent as of now. Could be a bloodbath within a few days with no response? Sent from my SM-G950U1 using Tapatalk

06-03-2019, 10:35 AM	#29
CMpunk13 Member Join Date: Sep 2009 Location: Fullerton, CA Posts: 1,752	I should have bought put options once this was discovered. I do wonder if their coin business has this same type of fraud happening.

06-03-2019, 11:18 AM	#30
Brndan130 Member Join Date: Dec 2018 Location: Connecticut Posts: 27	PSA may want to consider using the anti-fraud marking they use with their autograph authentication. I would think that along with photographing the cards they grade could help to minimize the “professionally” altered cards from slipping by. I understand it’s not a perfect solution, but could be a starting point to explore and to work with the other major grading companies, SGC & BGS, to create some type of standard measure across the board.