So here's my best guess as of what's left in the float to be sold still....
Nice tool here that let's you see the volume of every market maker month by month. Shares became unrestricted in May, as you easily can tell by the addition of BKRT/BMAK/VFIN/DLNY in the activity reports from May forward. These are NOT retail routes and are used 99% of the time to sell conversions off..
YTD Volume for market makers used for private placement shares sold:
BKRT 10,784,015 BMAK 12,083,379 VFIN 20,814,894 DLNY 3,712,429 ____ Total sold May - July: 47,394,717
So let's round that down to 47M for easy calculations..
The float has increased from 21M in May (when shares became unrestricted) to 85M currently for a net of 64M shares added to the float.
64M added - 47M sold = 17M left as of end of July to be sold..
and we've already gone through probably 10-15M shares in August so far based on volume..that leaves and absolute maximum of 2M-7M assuming every last share is liquidated...
This is of course assuming the float doesn't rise further, which it hasn't in the last two weeks..
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