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Nah Tiggs..
Reference this post [https://investorshub.advfn.com/boards/read_msg.aspx?message_id=168543548] to get a better understanding of the shenanigans wes&co pulled off on this one. It'll give you the O/S and you can take it from there. This is going to go under pre-split price. & in 6 months will be getting delist notices.
Is the market cap only $16 million now? This is getting very attractive
Circle Jerk. Me today after being short garbage stocks for the last few weeks. https://t.co/MSfvD8NcBk
Seems like they're desperate is more like it. When the underwriters are in the pump room things got to be looking bad. Guess that over subscription is not happening as well. Classic RileyCo IPO though, usually good for 60-80% drops. They really $h!t the bed & took out everyone on this ticker. They deserve every drop down to delisting. Never trust the smartest a$$clowns in the room!
They are trying to save this thing….
B. Riley Securities initiated Applied Blockchain (APLD) at Buy and set the price target at $10
Needham initiates coverage of $APLD with a buy rating and a price target of $5.50.
Well guys it’s was nice being investor for over 5 years at this company. I’m fully out of here an I hope you guys recover your investment….
Hell of a lot of dollar volume.
Laying It Out..
Guess we'll all be parting ways soon on this one, but I guess I had to punch in the numbers & see how exactly we got the no vaseline treatment from the Hosts with the Mosts.
So as per that last S1/a, and well there's been so many out of the banksters. What they really did was kill us on the issuance, which in turn reduced the value on all the legacy shares [which there were only 1,283,978 after the split. The R/S should have created a 54M Share O/S entity, but they went ahead and issued 45M shares on top of that, for the ole pocket lining & cash printing press.
I suspect the one redeeming aspect of this result [as of now] is that they're only 15% below the true market cap value the R/S alone would have created. But for most legacy holders, we got thick shaft, the 1:6, and a ~85% share dilution. So the damage will only be seen once your shares reset & see you lost 85% just on total value. And now you have a whole lot less shares, so a $1 move is making no one any money here. So the murder scene is developing, as in a few days the 1.2M shares or what's left of retail OTC will likely head for the exits as well...But I'm sure they'll be a party scene in Dallas!! Bottoms Up! Congrats surely in order there for them!
Yep. I’m salivating for Wes or his flunky Regina to tweet anything so I can slam them for all the world to see.
With the current market conditions I’m sure potential buyers of the IPO were shrinking fast so they took what they could get. They still need to raise a lot more money for the current and future projects. I think someone will come along to support the price once things settle out so they can get another offering together down the road.
Bypassing OTC..
What they did, was by using an IB and S1 SEC filings, they really didn't care about OTC. They were purely looking to list, the OTC issued ticker was essentially only used as a placeholder cusip. The R/S. and then the sharp reprice that was just some extreme levels to kill off the OTC holders. So they enter the NAS with mostly all newly minted shares. All OTC holders are looking at likely a 70% value decline on their company share value. To have 100 shares now you needed 600 before. And those shares went from being worth $10.20 to being $4.50 in a blink. Many got trapped having bought in recently. If you owned this anywhere above $2 pre split [$12 post split] consider your money gone for a few years. Sub $4 when R/S shares get released..
1st time in my life I saw a stock go to Nasdaq directly from OTC Yield Sign..I thought it was compulsory to go PINK CURRENT through national exchange first.So strange
The Writing Was On The Wall.
They did what they had to do to get this to IPO, regardless of price they list at, they ALL get paid on it. So for them it's nothing but wins. At the same point, the older ticker holders are frozen with likely a 50-70% haircut on value coming as their shares get live over the next few days.
BitMain isn't in the business of buying these businesses...I know you wan't to be hopeful but they manufacture hardware. They still get the better end of all deals they step into. Essentially, they already own a major chunk of it through joint financing.
Total disappointment, a slap in the face; only hope that one day Bitmain will buy this company
They'll Be Popping Bottles!!
Big after work party today to celebrate the IPO, lots of of smartest guys in the room will be comparing stock grants/options & the millions they just made on the listing. They'll probably chuckle at the plight of those that got royally screwed in the process. Just another case of the sheistyness of most company executives & associates. OTC/Big Boards/ don't really matter. This was one of the most botched IPOs, iley & Co really did a number to get this done and over with to cash them checks. But true to form, they have another IPO that will return -50%+ as is their history. Day 1 return is already -50%, give it a week and it will probably be down 70% as retail gets their shares from R/S from the brokers and can then offload.
yea I gave him a royal smack on twitter sitting in this dog shit for over a year just to get plowed into the mud
Losing 3x Over..
Float really doesn't matter here bud, they just floated 8 million to the market. What really killed this was they R/S'd at $1.70, which was $10.20 pricing, but then revised the listing to $5. So I'm not sure how many screwings that was. Went from 16-20, to 6-8 to 5, and the R/S combined made likely many go down 70% in the red on this. They really f'kd holders over. But enriched themselves plenty on the IPO,,.smartest guys in the room!
Applied Blockchain, Inc. (NASDAQ: APLD) announced that yesterday it priced an initial public offering of 8,000,000 shares of its common stock at $5.00 per share. The shares are expected to begin trading on the Nasdaq Global Select Market on April 13, 2022, under the ticker symbol “APLD.” In addition, Applied granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on April 18, 2022, subject to customary closing conditions.
actually never one this bad before and Ive been through quite a few uplists from the otcbb, the float was so low, that any additional shares are gonna make it ugly
none of these makes any sense one thing is for sure they screwed us royally
Luckily already sold 70 percent of my holding through out months….
Exactly. Doesn’t make sense how it’s trading under the old symbol
Why The Confusion Fellas?
So they got the FINRA 1:6 through, and new CUSIP, so all shares are now non accessible until the brokers re org them. They got the APLDD and we all got the D. But erased it with the effective IPO.
They cut the IPO to $40M, and priced at $5 [83c w/ 1:6 R/S].
Now no OTC holder can transact on it due to the R/S. This is all pretty common place with R/S, but this comes with the now effective S1/ Listing on NAS..
Quite a way to lose money here. So shares are 1/6th less & the price has barely moved. Oh and you can't sell LOL..but you have the IPO issue with liquidity
how do price an IPO when there are already shares outstanding?
This is a lie! I've been caught like this twice in the past year and lost money. And now. My average price is $10.20 and traded at $4.7 over 50% of my losses on this position! Bitches!
No idea. Doesn’t make sense
Straight Garbage Actions..
https://finance.yahoo.com/quote/APLD?p=APLD&.tsrc=fin-srch
Cut IPO price to $5, 8M issued... $40M raised... What trash dealings this turned out to be... Guess we'll be under 4 soon.
4.52 but thats apld Im so confused supposed to be apldd and no one can sell so how is it trading this low?
can anyone even get a quote today?
APLD moved to the Nasdaq from the OTC:
https://otce.finra.org/otce/dailyList?viewType=Deletions
looks like nasdaq allready today ?? interactive broker shows status nasdaq / halted ??? real micro float this one now after split but let see
Numbers Say Different...
"B. Riley Securities is the lead underwriter and IPOs led by the firm over the last 12-month period have generated an average return of negative (45.0%) since their IPO. This is a bottom-tier performance for all major underwriters during the period."
https://seekingalpha.com/article/4500809-applied-blockchain-apld-proposes-60-million-ipo
Fun Times Ahead..
"As for valuation, management is asking investors to value the company on its expected future earnings at an EV/Revenue of 825x today for what is essentially a data center company."
Quite a Slide..
Seems OTC retail jumped off this sinker! Volume went quite high today, tons of trade for this ticker. No one wants to be on board a frozen ticker, the APLDD is now official, so let's see what's next. 1:6 declared official by FINRA today. Any guesses on when this will debut on NAS now that all these things have lined up?? Is a $1/$6 downslide going to be baked in soon enough??
APLD one for 6 reverse split:
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
form CERT out NASD on its way https://www.sec.gov/Archives/edgar/data/1144879/000135445722000234/8A_cert_APLD.pdf
is that 6-8 post RS? that confused me
You give them too much benefit..
Expect a lockout when they debut!
Bad days but still here...remember that APLD is backed by the core of BITCOIN world..BITMAIN.
Mr Bryant R. Riley and his spouse own a lot of shares of this company not by chance
https://fintel.io/doc/sec/1464790/000121390022007064/ea155342-13gbriley_applied.htm
Fyi Virginia Moore, a member of the Board of Directors, is the spouse of the CEO of B. Riley
APLD have a BIG management
GL $APLD
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