XpresSpa Group Inc (XSPA)

[JP33]

Blackrock has increased its position from 1.4 ml shares at 6/30/14 to 4.5 million shares as at 8/9/2014 as per sec 13g filings

Interesting move.

1. Size of their position relative to their portfolio is meaningless

2. Unlike retail that tends to average down, Tut's will typically sell if they lose faith in a company, they don't try and 'break even'

3. Even moreso when the position is very small relative to their entire portfolio, easier to cut bait.

4. In this case they have more than tripled their position

I suspect they expect something to happen with this company in a positive manner, whether that be a proxy battle, hostile, buyout or settlement

Smart money just tripled down, that is interesting....