Big BUY Opportunity with PP Closing Thursday? Now I wasn't overly thrilled with the PP being at $3.00 - but I can understand why they did it. Helps de-risk the deal a bit, pays down debt faster and overall gives the company a bit more breathing room in the short term.
However it makes no sense to me why the stock price would fall from $3.50 to $2.70 with a major wave of insitutional money coming in at $3.00. I asked a few people over the weekend who had more experience, and one friend of mine indicated that it might be becasue the normal buyers of the stock are no longer able to play in the daily trading.
This got me thinking, will there not be a big uptick in the stock Thursday/Friday once the private placement closes (DCM said in the PR that it was closing May 25th)?