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Should be reported on or about Friday if history is a tell. Took about 4 days. Not worried.
Not a lot but this is a good article
Social Capital Hedosophia Holdings Corp VI (NYSE:IPOF) is the next SPAC (special purpose acquisition company ) vehicle that Chamath Palihapitiya has put in-line to merge with a large private technology company. If you believe in his stock value creation track record, IPOF stock is likely to do well.
That is why it now trades for over $15 per share, even though its IPO was at $1o. If the company does not find a target in time, it will have to return its $566 million in cash, according to its latest 10-Q, to shareholders at $1o. Management has until Oct. 14, 2022, according to page 6 of its 10-Q, to find and complete a merger.
For all practical purposes, this means that the deal has to be announced no later than 6 months before then, or April 2022. So, IPOF stock has at least a year and three months left before you might see any major news.
Or not. Never mind, investors say, he is more than likely to find a good target and we want to get a jump on the price when it announces the target. That is why the price is at a premium.
Track Record Counts with SPACs
Finding a quality private company where the owners are willing to take shares in a SPAC is highly dependent on the SPAC’s sponsor reputation. Chamath Palihapitiya has a stellar reputation in Silicon Valley. Palihapitiya has apparently reserved all the symbols from IPOA to IPOZ on the NYSE for potential SPAC issues. He has an excellent track record.
For example, he was an early investor in Slack (NYSE:WORK) which now has a $25 billion market capitalization. His first SPAC (IPOA) took Virgin Galactic (NYSE:SPCE) public, and it now is at an all-time high with a $14 billion market valuation. His next SPAC (IPOB) took Opendoor Technologies (NASDAQ:OPEN) public at the end of 2020, now with a $19 billion market cap.
However, one stumble was Clover Health (NASDAQ:CLOV), previously IPOC, which went public in early January. Since then the stock has fallen 22% or so. However, although Social Capital Hedosophia IV (NYSE:IPOD) stock has no target it is trading above $16.
But Social Capital Hedosophia V (NYSE:IPOE) recently announced that it will merge with Millennial finance company Sofi Finance. IPOE stock is now at $23.
What to Do With IPOF Stock
Therefore, to be blunt, this is what investors in IPOF stock expect what will happen. When the target is announced, unless it is a real dud like Clover Health, they expect to see IPOF to move at least 40% to 50% higher in value.
For example, if IPOF stock moves to $23, that implies a potential gain of over 50% over today’s price of $15.06 per share. Of course, a lot of the upside will depend on the target.
Recent reports emerged of a rumor that Stripe, a major fintech transactions company based in Silicon Valley, was a target for IPOF. If that report comes to pass, you can expect that IPOF stock will move higher. According to Crunchbase, Stripe is large enough now that it makes acquisitions of other smaller fintech companies. For example, Wikipedia reports that the latest valuation was $36 billion as of April 2020.
It’s a Gamble
If Palihapitiya is able to pull off a merger with Stripe at a higher valuation than $36 billion, IPOF stock will soar. I suspect it would easily double. The question is why would Stripe merge with this Palihapitiya SPAC when they could easily just go and do an IPO?
If they like working with Palihapitiya, then I can see this happening. This is especially so since a SPAC deal will clarify ahead of time how much capital the company will receive. I suspect that along with the $566 million in the IPOF SPAC coffers, there would be another $500 million in PIPE investment money (private investment in public equities). That is what might attract Stripe to this deal.
Please note, there is no guarantee that this is even IPOF stock’s target. It’s all speculation now. However, I believe, that given the excellent Palihapitiya track record, and the potential Stripe merger rumors, it is worth gambling a little on IPOF stock.
On the date of publication, Mark R. Hake does not hold a long or short position in any of the stocks in this article.
Mark Hake writes about personal finance on mrhake.medium.com and runs the Total Yield Value Guide which you can review here.
Agree. Added another 3500 in the low 1.80s. I don’t see this as any less than a $20 once it goes live in the 14 big countries and if it can get to a US exchange game on. Pun intended.
Just saw on Cramer that he knew about Paysafe and wants to have Foley on his show.
Let’s hope he does. No way this is staying low with the volume that Paysafe processes.
Patiently waiting and will have to add again if this goes much lower...
BRGGF ticking up to March first. Once it’s live on Microsoft it’s off to the races. GAN part 2.
I was watching the blocks and they just look like lots of big blocks from people that probably bought at .02.
Once the main flipping slows or we are able to get some big volume on good news it looks like it’ll move up.
Looked like big bites are being taken now so there is definitely interest.
Hopefully last weekend under a dime or even quarter!
Nice. Can’t happen soon enough. All these clowns bring spacs are giving the good ones a bad rap. This one will be worth it. Wish I could add 1000s more!
Thanks PC! I was trying to find that filing and was looking in the wrong place.
That count is excitingly low.... Ready to roll with the rest of you all and appreciate the feedback.
Hi guys, very intriguing here. Looks like share count of around 879mil is that correct?
Interesting portfolio and I look forward to getting that report from them this week.
Nice bounce.
BRGGF. Under $2 for now but not for long. Similar to GAN which is $30
Just a matter of time before this hits the radar big time... tried to add more at $1.85. Didn’t get it.
I agree. 2 big catalysts. Uplist on NASDAQ and the list of countries where it’s available from Microsoft starting March1. Glad it’s a short month so we don’t have to wait long.
Seeing comparisons of GAN $40, to BRGGF $(1.86) definitely similar models and as of March 1 Bragg Gaming will be live in the United States, currently just in about 14 other countries.
Anyone see a reason not to take a chance on a few shares of both with the US market adding gambling per state all the time? Seems like huge opportunities for both?
Looks like a selling day is on tap until more news. Would’ve liked to see more volume today. Hummmmm...
BRAGG. ;They are $1.90 with $67 mil in revenue and will be live in 14 more countries including the US March 1st. 3x P/E and 117mil share float.
——————————————————-
2weeks ago CEO interview
BRAGG. ; You need to look into this one. I did and couldn’t believe it.
They are $1.90 with $67 mil in revenue and will be live in 14 more countries including the US March 1st. 3x P/E and 117mil share float.
——————————————————-
2weeks ago CEO interview
BRAGG. You need to look into this one. I did and couldn’t believe it.
They are $1.90 with $67 mil in revenue and will be live in 14 more countries including the US March 1st. 3x P/E and 117mil share float.
Insiders bought up the entire $3m placement in January. There is an interview with the CEO explaining the expansion plans and that they are on the Toronto exchange uplist if to the Nasdaq soon. Looks like a great opportunity.
401p ET 1/13/2021 - Globe Newswire
Bragg Closes $3M Non-Brokered Private Placement
Mentioned: BRGGF
Bragg Gaming Group (TSXV: BRAG, OTC: BRGGF) ("Bragg" or the "Company") is pleased to announce that, further to its press release dated December 10, 2020, it has completed a non-brokered private placement offering comprised of approximately 2.5M common shares of the Company, at a price of $1.21 per share, for an aggregate gross proceeds of $3M (the "Offering").
This offering was exclusively taken up by Bragg employees and Board members, including Board Chair Richard Carter, CEO Adam Arviv and CFO Ronen Kanor. All Board Members subscribed to the offering, demonstrating their confidence in the future of the Company and the exciting changes being made to further grow Bragg into a global player.
All securities issued pursuant to the Offering will be subject to a hold period expiring May 14, 2021. Proceeds of the Offering will be used by the Company for general working capital purposes and to develop and commercialize new products. No commission or finder's fee was paid in connection with the Offering. The Offering has been conditionally approved by the TSX Venture Exchange.
About Bragg Gaming Group
Bragg Gaming Group (TSXV: BRAG, OTC: BRGGF) is a next generation gaming group with cutting-edge technology, leading brands and world-class management expertise, developing into a global gaming force. Formed by a team of gaming industry experts, Bragg's main portfolio asset is ORYX Gaming, an innovative business-to-business i-gaming platform, product aggregator, casino content, managed sportsbook and managed services provider.
Through this brand and targeted acquisitions, Bragg is focused on becoming a leader within the evolving global gaming industry. Learn more at https://www.bragg.games.
For Bragg Gaming Group, contact:
Yaniv Spielberg, CSO, Bragg Gaming Group
info@bragg.games
For media enquiries or interviews, please contact:
Kelly Morgan
kelly.morgan@kaiserpartners.com
For investor inquiries, please contact:
Tim Dawson, Bragg Gaming Group
tim@bragg.games
Oops wrong board sorry chaps.
Bragg Gaming Group Inc. (OTCQX: BRGGF) (TSX-V: BRAG) commented earlier this week, "on the move by Google to allow the download of online gaming apps by in 15 more countries, including the U.S., starting March 1, 2021.
In case you missed this;
Miami, Florida--(Newsfile Corp. - February 3, 2021) - AllStar Health Brands Inc. (OTC Pink: ALST), a specialty pharmaceutical and nutritional supplements company, is pleased to announce it has signed an Agreement with a Consulting group intending to Distribute the COVID-19 suite of testing capabilities and reporting Software AllStar Distributes for TPT Medtech. The new territories include South Africa, Sub-Saharan Africa, Angola and Portugal.
"Our goal is to quickly build on the model we have begun in Jamaica, and now offer rapid and reliable testing solutions to various sectors of the South African economy, including testing in the vast mining industry as well as other sectors of the economy such as tourism and the public in general," remarked Dr. Daniel Bagi, CEO of AllStar. "We offer a full range of solutions, including the mobile testing labs which can be set-up at the entrance to mines, complete with all the current testing solutions available: PCR, Antigen, and Antibody tests as well as the QuikPASS and Check & Verify software to ensure the testing is validated across several accepted platforms. The added benefit of the software is that once vaccinations begin, the results will also be available on the individual's "COVID19 passport". We view acceptance and launch in South Africa as a springboard into other countries in Africa, so we are working towards having South Africa as our entry point into the Continent," added Dr. Bagi
Huge potential on this. Low shares are getting eaten up quickly!
Good call on ALST. Looking good from here!
Big wall at .25 of about 150k shares but not much to .4 it looks like.
My thoughts based on a couple I’ve been involved with (most recent was PIC to XL fleet). Once they announced the merger it took about 4 months to work it through. This was announced about Dec 8. So that could put it mid March early April if you add holiday delays.
This is a huge deal and transaction so I wouldn’t be surprised if it took longer but these guys are experienced and that accounts for something.
The last filing was this below and it makes for some awesome reading. I also suggest looking at the Paysafe website. The releases there are good too.
https://www.sec.gov/Archives/edgar/data/1818355/000119312520311998/d54063d425.htm
https://www.paysafe.com/us-en/paysafegroup/news/
My observation and opinion. Hope this helps you with your own DD.
I’m with you on the Rhino posts from over there! Intriguing and I read it as bagging something. Could be a fun week! Good catch
Not sure I care for that as our go to stock. Hate rumors like this, it’s the reason I missed cciv, DISH rumors, I didn’t want anything to do with that so I stayed out. Then when it was announced with Lucid, boom. I can’t imagine he’d do a deal without there being a big payout. Flying cars seems like it’s be hella regulated and very speculative
Nice buying opportunity today. Little dip.
Nice little buying opportunities. Dang sure not selling. :).
Tomorrow or Monday the short percentage will reveal where this is. Then reality will set in or it’ll start all over. Like the gambler says.. “gotta know when to hold em’, know when to fold em’”
Grasso endorsed again, said back to $20 quickly. Good pop again coming
I would say if we were in it during the manipulation and hurt by the share price then we'd be eligible. The link just lets you sign up and get your name on it, I've not heard back but signed up...
If you want to join the class action suit, here is the link.
https://saverilawfirm.com/contact-us/
https://saverilawfirm.com/our-cases/short-squeeze-antitrust-litigation/
Antitrust lawsuit: Details. https://saverilawfirm.com/our-cases/short-squeeze-antitrust-litigation/
News from 5 pm Monday The retail trading community is targeting stocks with the highest percentage of short interest to force institutions to cover their positions, which helps drive the share price dramatically higher. Small retail investors, large hedge funds and financial institutions may be wondering what stock they'll successfully target next.
Related Link: A Short Seller Joins Benzinga's 'Power Hour' To Talk GameStop. The Rest Is History
Below are the next 10 most heavily shorted stocks on the Russell 3000 as of Jan. 29, 2021:
Accelerate Diagnostics Inc. (NASDAQ: AXDX): Market cap of $600 million with 31.03 total share float and 45% short.
Academy Sports and Outdoors Inc (NASDAQ: ASO): Market cap of $1.9 billion with 21.07 million total share float and 45% short.
AMC Entertainment Holdings (NYSE: AMC): Market cap of $2 billion with 56.56 million total float and 58% short.
Bed Bath & Beyond (NYSE: BBBY): Market cap of $4.3 billion with 230.80 million total float and 63% short.
Ligand Pharmaceuticals Inc. (NASDAQ: LGND): Market cap of $3 billion with 15.34 million total float and 65% short.
Macerich Co (NASDAQ: MAC): Market cap of $2.3 billion with 137.99 total share float and 57% short.
National Beverage Corp (NASDAQ: FIZZ): Market cap of $7.1 billion with 11.64 million total float and 63% short.
SunPower Corporation (NASDAQ: SPWR): Market cap of $9.2 billion with 80.91 million total float and 57% short.
Tanger Factory Outlet Centers Inc. (NYSE: SKT): Market cap of $1.4 billion with 90.15 total share float and 57% short.
Tootsie Roll Industries, Inc. (NYSE: TR): Market cap of $2.6 billion with 16.11 million share float and 46% short.
(Photo by Giorgio Trovato on Unsplash)
RUNnnnnnn Forest! Runnnnn! :).
Great day! Nice opportunity last week to grab a few more, thanks to whoever sold em. Good luck and patiently waiting for that vote so we can get to $50 and beyond!
I definitely would not buy a RH IPO... no thanks. Everyone I know that had RH, is moving. Rookies running that thing, no thanks.
Watching CNBC and they said that RobinHood has increased its funds/backing by over $3.4 billion since Thursday. Either they are going to fully remove the restrictions finally or they are working to ensure they do not fold. Either way that looks good for this in my opinion.