RE:RE:RE:RE:-7% today.... It's all marginal selling. Not all of the trading would be related to the initial convert conversion. There were also two ETF removals.
A lot of long only probably share your frustration and are moving on to other stocks that are "working".
I think talking about the amount of stock as a ceiling isn't particularly helpful since it's not a lot of dollars to eat through it and the momentum can change quickly if they start reporting solid numbers.
I don't care if it takes years personally because the converts pay very well to wait.
theTransporter wrote:
So if MMcap isn't selling (which we would know about through their mandatory requirement to report it), how much equity that was created was NOT in the hands of MMCap?
there has to be some sort of limit to how many more shares can be dumped like that. I haven't done the math but we must have churned through 20 million shares of volume since the shares were released?
Good thing the 4 month hold on the other half isn't lifted until after Q1 is posted as I can see another stock price depression when those shares are released.
This cheap paper has put a cieling on the most this stock can move for a while.
Method wrote:
it just seems like a bad take that MM is doing anything with their position. They put Beena in charge, the debt has been restructured, EBITDA is supposed to be strongly positive starting in the December quarter. It makes no sense for them to pee in their own soup.
Investors who bought in for excitement/price momentum and haven't done any analysis could definitely be discouraged though. Plus convert holders who don't really want to own equity. I sold the shares I could but I bought converts with the proceeds. I'm sure most just sold the equity because that was the plan.