OTCPK:NWKRF - Post by User
Post by
7Twiggyon Mar 18, 2018 3:28pm
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Post# 27736210
73 % of warrants traded since 3 week issue date of Feb 28
73 % of warrants traded since 3 week issue date of Feb 28It has been a nice slow rise for Newstrike the last 7 or 8 trading days. I have always felt that the real bottom for the stock was at the 1.34 price of the bought deal just completed. Did the math on the warrants which have only been trading for 3 weeks. ( Feb 28 ). As far as I can figure there were roughly 70,000,000 warrants issued on February 28, 2017. Over 51,000,000 have been traded since that date. 140,000 traded in the last six minutes of trading on Friday. Almost 12 million traded at .15 to .17 on March 5 & 6. There is a good summary of the numbers on Stockwatch if you would like to do a more thorough analysis. That also tells me that those selling are mainly from the very recent bought deal. Most likely they were a little financially stretched. 92 million added to the cash balance and with this type of investment those investors were not looking for a 10% gain. 30% or more would be more realistic and that would put the stock at 1.74. Add the I think 9 million breakup fee and you have a nice 100 million war chest. I think the stock should continue to rise this week. The warrants could do even better with what appears to be most of the bought deal sellers exhausted. If we have news that looks the least bit positive all bets are off.