RE:RE:Private Placement expected to close by WednesdayI think there is some funny business going on. Bought deal announced $1.50 below the share price around the same time the short interest spikes up to $2 million.
I bet part of the short was people buying the bought deal and selling the shares short. If you know you will buy shares at $5.75 in the placement and they will be issued to your account on Feb 11th, you can go short any price higher than that and keep the difference. You know you don't have to buy back becasue you are getting shares from the placement on the 11th.
I could see this drifting back closer to placement price but I doubt it dips much below.
And, the good news, now that the regulatory elements of this cash raise are in EGLX's rear view mirror they can focus on the Nasdaq listing. I'm guessing we get news on that in the next 2 weeks.
PonyandTrap wrote: When you said
Then off we go.......
I think you could have been more specific, i didn't think you meant the ground floor.
Oh, well I still think it is work $14