These converted shares have been sold off long ago. With the trading of 50-70 million PER DAY those converted shares are gone.
More coming up, sure. Those will be absorbed within a weeks time with these volumes of shares being traded.
So wait, one sentence its only a percentage but in another "they are all trying to sell at the same time"???
Please, which is it?
It is pretty clear, the converted shares have been sold off and the new ones coming up will be sold off very quickly. At that point the stock will stabilize and begin to rise. Especially with the increase of revenue because of the new 2015 Saleen Mustang in all 3 trim levels.
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