JB and ZJMY Holding Co (JBZY)

[Renegades17]

This is true for straight preferreds

But we're talking about convertible preferred here. There's a big difference.

Looking at the market cap computed using just basic shares is very misleading and incorrect from a valuation perspective. That's not the way institutional investors will look at the stock. Now if "dumb" retail wants to exclude the dilutive effect of convertible securities, like this preferred, that's fine for them. I'm just trying to get to the bottom of the real valuation of this company (particularly when doing a relative valuation analysis compared to BYD and others).