Re: I may buy the next dip. But I believe so many here under water and do not...
There are 1.38M total rights shares that have been delivered. I don't believe you can count last week. We have allot more downside here. I will not be adding.
I have literally made and lost a fortune trading SPACs. The potential is irrelevant. Unless a hedgie comes in here to flip the float we are going to be waiting for quite awhile. It will be about tangible results.
They have already done some degree of dog and pony shows but that will continue. The one thing I do like here is that there are legit stake holders who are incentivized. I have definitely been apart of inferior deals with worst logistics.
Compraing this to PECK or KERN is moot. You have to look at the merit of this specific situation. Assuming there are still 900K rights shares on deck this is going to have plenty of downside and buying opps ahead.
As far as those private transactions goes and making up the gap in equity, some of those transactions have already taken place. Last Thursday there as a mid six figure block after the market closed that traded $10.30 handle.
Re: I may buy the next dip. But I believe so many here under water and do not lik...I'm in it at least until management does a roadshow and makes the rounds on CNBC, FoxBusiness, etc. They were already on FoxBusiness once, so I expect a follow up soon. I find comfort in knowing the management is highly motivated to break even on their shares! If they just did that, I'd make 132%.