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It's possible.
From what I could find, there is less than 100,000 shares available to short.
We shall see if it is buyers over $0.04 or sellers under $0.10 who show up tomorrow.
Even now there isn't any guru pushing this.
Less than 5 million shares traded from the point of announcement.
If there isn't much overhang coming out, there isn't much resistance for this to run.
We shall see if a significant bid shows up at $0.04, preferably $0.05 tomorrow.
Also waiting to see how much selling comes up below $0.10, but seeing a decent bid is more important.
Unlike others, this wasn't frontloaded.
We shall see if there is significant selling on Tuesday or if the float is relatively low.
A smallish reverse split is far different than the 1:1,000+ ones that happen.
It's a small one, not one of those 1:10,000 crippling ones.
Shares never really traded here.
Today's 2 million shares traded represents a good amount of the trading float.
As I already mentioned, there isn't much evidence of frontloading before the news.
This has the ability to run because of how tightly held the shares are and because there isn't someone who loaded in anticipation of this.
You have not posted here or elsewhere for quite some time.
Do you have any thoughts on the potential here, or did you sell into the volume surge?
It has some potential because there wasn't much trading before this announcement.
Unlike some others which are frontloaded.
We shall see what interest there is on Tuesday.
Not a lot of volume before the news, so it doesn't look like it was frontloaded.
We shall see on Tuesday.
See 100k bid now which is nice.
No, they announced a merger.
Well, at least this guy with 100k shares for sale is having fun moving their ask up, down and around.
Well, someone likes the story, the bid and ask is pretty wide though.
I guess it suggests no selling, just don't really want to buy in and be down 40% on a bid hit.
I mean the reason the price broke down was shorting.
Whether those shorts have non-public information is what makes it scummy.
Sickening to see a stock do a placement that is 50% less than the last traded price.
I understand the company needs to raise capital, but it doesn't change the bad feeling from it all.
100k bid looks good.
Let's see if there is much overhang left.
Damn, well glad I waited on the $0.10 support that has not materialized.
Contemplating picking up a few, but unsure given I think most are out until January now.
Merger news is usually good for a few days.
It didn't really overshoot.
I think it looks like it is consolidating a little bit.
Perhaps a little poor with the timing as a number of potential traders are out until the new year.
Personally, I want to see $0.10 again before getting interested.
Some overhang shares coming out at this time.
If the bid gets back to $0.10 and builds it will catch more eyes.
Couldn't find a reason for today's move.
Should have trusted Pumpers first thoughts.
I did some digging on my own.
Interesting that the Forzani family went from taking their own company public before and then selling for $800 million.
Wonder how much the family got out of that?
Just realize that when promoter says company is trash, just realize that should funds clear, it becomes a great company!
Got to ask promoters whether this is just a one day wonder or if they actually paid for 2 days this time.
If it wasn't for the election stuff, this would probably have gone to $3s today.
Nice news but seems someone is shorting everything.
Not the best day to put out news. (US elections)
So much shorting since the last spike.
No offering and it flies.
Thanks goes out to the market makers that shorted yesterday giving a better entry point today.
Shorts trying their best.
Not really sure I would risk it when a $4 million buy order comes across mid-day on a stock like this.
Always happens these days.
You have to trade with the reality that it happens 90% of the time.
However, there wasn't much of a flush at the end of the day.
Have to wonder if it wasn't pre-sold this time.
Always a stock offering.
Experience tells me to sell most on any of these big run days.
At least there is no crappy warrants this time around.
Guess the float just got locked and MMs got what they wanted.
Just as I post this it seems like a couple more are seeing it the same.
If it jumped to $4, it would be a different story.
Just seems like MMs were caught without shares and trying to get a few before letting it go.
Doesn't this imply $7ish per share value?
Low $2s seem like an easy entry to me.
MMs maybe keeping it down until they get a few?
Such a vague PR.
I wonder how big of a discount they will have on the inevitable offering?
A lot offerings these days seem to be pre-sold.
Financiers know company needs cash and sell into news.
When offering news hits, they already sold shares for a profit once they buy back.
Compared to other $0.000s runners, there wasn't that much loading before yesterday's pop.
We shall see if this can continue.
Strong earnings.
Up nearly 30% after hours today on small volume.
Have to see what tomorrow brings, may be a good time for an entry at the right level.
Trying to understand a little about SPACs
Anyone know why this would be down 30% the day before the new company officially goes on the exchange?
Could it just be so that if it were to go to $10, it would appear to be up?
Seems strange to dump the day before new company is listed.
Perhaps some people can't sell after it changes for a few days and would rather get out before?
If anyone has any theories or examples, it would be appreciated.
Trying to learn a little from this current example.
This would be so easy without the $6 billion tossed in casually at the end.
Damn.
It also said it is eligible to receive up to $6 billion in research, development, launch and other payments, along with royalties on product sales.
Yeah, but can they sell their HKD?
If yes, this is undervalued.