Post by
u30822 on May 18, 2023 10:27am
Selling
This BS selling is getting way overdone....
Comment by
u30822 on May 18, 2023 10:53am
The shorts are having a field day and the only thing that can stop it is some decent news from the company.
Comment by
nedstar71 on May 18, 2023 10:57am
With the placement at $2.25 it should almost always temporarily trade down to just above that price before the it closes. People shorting it or flipping what they own for the cheaper option.
Comment by
tamaracktop on May 18, 2023 11:15am
It's the close that counts.
Comment by
nedstar71 on May 18, 2023 12:40pm
Bid now below the bought deal price
Comment by
u30822 on May 18, 2023 12:49pm
The problem is no one wants to try and catch a falling knife.
Comment by
tamaracktop on May 18, 2023 1:30pm
The Company has granted the Underwriters an option to purchase up to an additional 2,025,000 Common Shares (the "Over-Allotment Option Common Shares" and together with the Common Shares, the "Offered Securities") to cover over-allotments, if any, and for market stabilization purposes at a price of $2.25. Once again, it's the close to that counts.
Comment by
nedstar71 on May 18, 2023 1:46pm
How could the underwriters being given the option to buy more shares at $2.25 be used to stabilize the market? I've been thru numerous of these and never understood that notion.
Comment by
BSdetector2016 on May 18, 2023 1:50pm
More like additional oinking at the trough for the underwriters.
Comment by
tamaracktop on May 18, 2023 1:53pm
Because they can sell if the stock is trading at a premium in the aftermarket to fund subsequent purchases. The firm's own capital isn't at risk