My fellow regards,
I’m a guy who noticed that Intel’s accounting department is part of our community:
Today I’d like to present to you Mat’s Golden Nugget – UWMC.
Golden Nugget can mean a lot of things, both good and bad. And so is UWMC for Mat and you’ll understand why momentarily. UWMC was popular on WSB five years ago, and many things have changed since then. First, let’s discuss WHY THE OPPORTUNITY EXISTS TODAY. Here’s a short summary for you:
“HELLO I’M MAT AND I’M RÉEEETARDED AHHHHHHHHHH
https://preview.redd.it/8vsi2cu3nfah1.png?width=761&format=png&auto=webp&s=3a780a8f3241852a90b05351d02404817ba6ddf4
I LIKE WATCHING BIG SWEATY MEN PLAY EACH OTHER AHHHHHHHHHHHHHHH I NEED MONEY TO BUY THIS SHITTY NBA TEAM AHHHHHHHHHHHHH I’M A TOTAL DEGEN WHO LEVERAGED HIS OWN COMPANY AHHHHHHHHHHHHHHH AND MIGHT GET MARGIN CALLED AHHHHHHHHHHHHH
The stock is down almost 80% from its 2024 high of $9.50 and is currently trading at just above $2 for the following reasons.
Since IPO, the company has cumulatively earned $3 billion.
https://preview.redd.it/q6bk67zymfah1.png?width=720&format=png&auto=webp&s=1f0644f69973afc674351cf026e042e634e25202
Since 2021, Mat has withdrawn $4.4 billion from the company to satisfy his wet dreams in the NBA.
https://preview.redd.it/1wzulf6jnfah1.png?width=1125&format=png&auto=webp&s=b8e485578283bcd452f429f8f4dfaba04cc11da5
That’s a deficit of $1.4 billion ($4.4b - $3b = $1.4b), because he withdrew more than the company earned during that period. That’s also the main reason why total equity declined in a similar fashion ($1.6b):
https://preview.redd.it/7nefeazymfah1.png?width=720&format=png&auto=webp&s=388efa6a6d87f5297af8e34c731c9f4a670f0376
In 2022, Mat had enough cash to buy the NBA team.
https://preview.redd.it/jl76dw7qnfah1.png?width=1125&format=png&auto=webp&s=8ce8b1f217dcdae06b1969491f05a16777c5c454
Later, there was a rumor circulating that the Suns were out of money. In a June 2025 podcast appearance, NBA reporter Zach Harper of The Athletic said the following:
https://preview.redd.it/9sslag0zmfah1.png?width=720&format=png&auto=webp&s=961a9e5ce968e3cf2ce9a50af9d26f87c8b31c98
That could be the reason Mat kept the high dividend ($0.10 a share) long after the Suns purchase date.
Now, a couple of important facts. The story is that Mat pledged 805 million shares (more than half of all his stock) to JPM to buy the teams. The stock was trading at roughly $6 at that time.
https://preview.redd.it/ynwng1ktnfah1.png?width=766&format=png&auto=webp&s=9afd6cb2183e184af013d2f82f411a2f1fae390a
As the stock is heading down, our boy Matty is in big trouble, because he can get margin called. I don’t know what his personal financial situation is, but things could escalate very quickly.
Catalysts
Now that we’ve discussed Mat’s FAFO situation, let’s move on to the most interesting part. What’s in it for us?
1) TBH, I don’t know the name of this particular technical analysis pattern, so you’ll have to help me out on this one, but the STOCK IS TRADING AT AN ALL-TIME LOW.
https://preview.redd.it/6q5ci4y4ofah1.png?width=704&format=png&auto=webp&s=47d00a7721c7ea81e54957dc7000fb68c7f05183
The support looks broken here. Gemini says that CAPITULATION is characterized by a VOLUME SPIKE, which we can clearly see from the graph below.
AI Overview:
"Capitulation in the stock market presents visually as an aggressive "volume spike" - frequently printing 2 to 3 times the normal 50-day average trading volume alongside a sharp, climactic price drop. This sudden, heavy volume represents a massive wave of panic-selling as exhausted investors "throw in the towel" to liquidate holdings, regardless of price."
https://preview.redd.it/kdzhzezymfah1.png?width=540&format=png&