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I just had time to take the shot.
Thanks. I'll consider it so for my DD, in conjunction with my current crypto holdings.
In my previous post, I mentioned a typo. I found it while doing DD on SOS.
I am not really understanding the company based on its website, but it seems that buying SOS is basically buying a crypto mining company for Bitcoin and other cryptos.
Am I correct in this assumption that this is now their primary business? And if so, that the share price will be "tied" to the crypto value, mostly Bitcoin.
Not on website or PRs. Anyone have any email address for them? They have a consistent typo in their boilerplate.
The core infrastructure of SOS' marketing data, technology and solutions to insurance and emergency rescue services is built on big date, blockchain-based technology, cloud computing...
Big date should be big data.
With EUA, what's the pop? 50%? More? Less? Looking at other stocks, 50% seems about right.
But tell me I'm an idiot.
In addition to shares and warrants, I have some March and June call options.
My March options expire on the 19th. They are deep ITM at $17.50 (high delta, almost non-existent theta). If we don't have a deal announced by then, I will need to do something.
My plan is to roll them out to June (again deep ITM at $20.00 and take the excess cash from the roll and buy more shares).
I'm wondering, with a March 19 expiration date, what people think about when I should roll. I could do it on the 19th, but wondering if there are any other thoughts.
I have March & June. I will roll March a week before expiration. I will decide if roll to June or September.
Your plans?
Wow. Nothing regarding the current price action here.
It sucks, but still a long hold.
Powered Brands (POWRU): Kind of liking this due to the market they want to target. Unit includes 1/3 warrant.
Female-backed SPAC, Powered Brands, aims to create new beauty conglomerate after public listing.
Here's some coverage from CNBC: link
And pre-market says it ain't over yet.
I bought $17.50 calls in October. Still up +100%. Almost no theta and great delta. So will hold until week before expiration, I think.
Hoping I won't have to roll into June. Then I'll do same 17.50 or 20.
Welcome. Looking for the DA.
Not a Penny Stock.
I told an investment friend that I was going to sell all my SBE warrants (I'll get back in after the PIPE and current shareholder lockup 6 months after merger) and take 1/3rd and go into BUSXF.
He said "It's a penny stock," only because it's OTC. I just said, well, if you think that, then don't put your money in it. Or do some DD and then see what you think.
Haven't filled the entire order yet, but over half way there.
My two issues with this projection are the 41.5 percent PIPE shares in the SPAC and the even larger amount of current owners' shares the has a 6 month lockup after merger.
Common = NGA
Warrants = NGA-WT
Units = NGA-UN
But brokers do their own thing for warrant and unit tickers, so best to just search for Northern Genesis Acquisition Corp on your broker's platform. On Fidelity the warrants are NGAWS
Wrong unit, that's Northern Genesis Acquisition Corp. II. NGA is the first, you're looking at their second SPAC.
Kept WKHS, Sold $50K of SBE warrants and moved to NGA warrants on Monday. A good move, I think.
While this board is somewhat biased...
Have both NGA & WKHS. Have been thinking about not waiting on the possible USPS contract with WKHS and moving position to NGA.
Thoughts.
While this board is somewhat biased...
Have both NGA & WKHS. Have been thinking about not waiting on the possible USPS contract with WKHS and moving position to NGA.
Thoughts.
Depending on what you paid for the warrants. Just do the math.
Your math is correct, but the difference is you having the (500 x 11.50) $5,750 (~148 shares). So 148 + 199 = 347 shares.
What you are missing is having to tie up $5,750. But that DOES NOT MATTER, because...
The BIGGEST thing you are missing is that you can't rely on the SBE+ price. It's at a discount because it's not redeemable yet. You have to run the math once they are redeemable, which should equal SBE share price - $11.50. That math will be MUCH closer. Plus you have the time it takes for your broker to to the redemption and any redemption fees they may add.
Non-redemption discount: 38.90-11.50=27.40
SBE+: 15.48
Difference:
Discount due to non-redemption status and deal falling through/SPAC failure: 30% (which is on par with other SPAC warrants in the same timeline).
500 Warrants X $15.48 (SBE+ PPS) = $7740
$7740 / $38.90 (SBE PPS) = 199 shares of SBE
Calling the warrants:
$7740 / ($9.28 + 11.50) = 372 shares of SBE
No? Am I missing something?
Ticker will automatically change a couple of days after merger.
Or just sell warrants and immediately buy shares with proceeds. No additional cash or redemption costs.
Also, company can call warrants early based on SEC filings. Then you have 30 days to redeem or they become worthless.
As of now, warrants (not yet redeemable) show ~30% discount.
Looked like a good time to buy in...so I did.
Nope. Warrants have been called for redemption. Call your broker. Must sell or redeem with cash by January 14.
Roll PSTH Options or Buy Shares or Warrants?
I have a number of PSTH options (March 19, 2021 $17.50 call, up 32%), in addition to stock and warrants. Assuming there’s no merger announcement before expiration, I am contemplating three things and would like opinions:
1-Roll to December 17, 2021 (either $17.50 or $20 calls) – this is the furthest date out as of today
2-Take proceeds and buy PSTH shares
3-Take proceeds and buy PSTH warrants
Thoughts?
Nope. They only refund if SPAC dissolves, not if the merger fails. It'll crash and they can decide to look and extend deadline (and be like a non target SPAC, but with questionable management) OR dissolve.
SBE: Overvalued or Impatience?
Over the past few days, SBE has decreased significantly in value. I have seen posts saying it's overvalued, the percentage of ownership is too low, and that the merger move date of (possibly) one month out (maybe Jan 15 - no confirmation).
What's your opinion? Obviously there will be a difference in opinion on whether you are a trader or long term investor.
Registering doesn't mean immediate delusion. It just makes the shares available. And since the SPAC doesn't own all of the company, it might have something to do with owner shares.
Regardless, doing this before merger would be STUPID.
I know interest rates are low, but wow:
Farfetch’s partnership with Alibaba and Richemont took a step toward completion this week, with the online fashion platform issuing a total of $600 million, or $300 million each, of 0 percent convertible senior notes, due in 2030.
But at what timeframe? A year, like regular analysts?
Saw merger vote delay to Jan 15 frim Dec 15. Can anyone confirm?
Recent Headline: Workhorse Shares Fall On Delayed USPS Mail Truck Decision.
This tells me one very big thing...when (if) Workhorse gets part of the USPS contract, folks will be selling trying to call the top on the news. This will crash in a major way after the post announcement FOMO, until a good earnings report.
If just a single quarter delay can crash this stock, it may have shaken weak hands. But plenty are wailing to cash out once the announcement hits. They are not even willing to wait one more quarter.
For the record, second fiscal quarter of 2021 is calendar Q1. Federal fiscal year starts Oct 1. So many probably sold on thinking it was 2 quarters out.
As I'm still up 176%, I'm holding strong and long.
Major profit taking. Look at today's volume spikes.