Old BAA holders will be replaced by new BAA holders mostly.
As BAA price increases some old holders will gradually take profit and hope buying back later at lower price.
But they may have no chance to do so.
First, you need think who will sell you back at lower price if your BAA shares were absorbed by institutions. Remember, BAA shares are limited to 250 MM, if some shares are held for some time by these new buyers we will be short of shares quickly on the market.
Second, you sell your shares because you witnessed the share price increased 50% from $0.15 to %0.225 in couples of days. So, you think Wow 50% profit in days! However, the new buyers just found BAA now as I first found BAA when it was $0.7, so I thought (they must also think) Wow BAA is so cheap but with a tremendous potential. So, you think BAA is overbought now, but new buyers think BAA is so undervalued now.
Third, you think BAA did not reach its prediction in Q3 because you know very well for BAA detail, however, new buyers will think Wow BAA production increases so quickly Q over Q because they don't have memory data for them to be picky.
