RE:RE:2$ back on the level 2 My opinion about the recent run up:
- There is anticipation that a deal will be announced this month since the presentation left the September reference unchanged
- Sigma news about a bidding war forming there brought new investors betting on a takeover for CRE as the only one with a permit in hand and a very low valuation in QC.
- Shorts most likely covered most positions as well, after the SGML news, as the bet is more risky now.
- Another thing - the $2.5 warrants will expire soon and as of June 2023 there were 8.5M warrants outstanding.
Here is my prediction:
- Price will run up to a bit above $2.5/share so the major $2.5 warranty holders can exercise them so the warrants do not expire!
- As Eric said the financing timeframe is now the end of the year, not September as noted during the Crux interview
- The run to $2.5 will happen in the next two weeks, before the end of September
- Website will be updated once we go above $2.5 to align the timeframe with what was said during the Crux interview
- Stock will go down since speculative investors will leave, similar to what happened after Q1, 2023 deadline was missed and the ‘conservative’ time was provided.
- IMO there will be no deal announced in September
- Will monitor the volume but if it keeps going up on a small volume (less than 200K) will sell my remaining shares above $2 at 10c increments
- If volume increases (~700K-1M) will keep my shares but that’s unlikely IMO
- The next 2 weeks will show if my prediction is correct, and if it is, the best time to buy back will be December, so good luck to all.