NewAge Inc (fka NBEVQ) (NBEVQ)

[NewJerichoMan]

Who pray tell is it then?

Below is the list of the culprits with sufficient size.



12.2M of those 22.16M are held by insiders (from Chuck Ence and above). If they sell, we hear about it immediately.

If one goes to Russell Investments and searches New Age Beverage, the first two results are Excel grids. From June 30 through August 31st, they sold nearly 1M shares of their 1.2M position. They update bi-weekly. They don't contribute significantly to the downswing after August 31st because they no longer had sufficient shares to do so. Link below:

https://russellinvestments.com/us/search#?query=new%20age%20beverage&skip=0&orderBy=Relevance


I haven't personally tracked down Vanguard but I'm told they are 100% out. I was informed this by the same person who directed me to Russell. So I believe it.

This is what gave me pause in the original Coco / shorting the box theory. But like Russell, their shares were mostly gone prior to August 31st.

For these to be Coco shares, their MM (NSDQ) would have to be "shorting the box", and to do that, they'd have to have an established position. I theorize that was August 31 and 2MM share volume day was them establishing their position. They start selling short and cover with the restricted shares. Since the shares never technically enter the "public marketplace", it's a loophole around the leak-out provision which is governed by Rule 144, which dictate they can't be sold in the "public marketplace" unless under certain provisions.

As far as reporting requirements, we'll get the 13Fs in about a month. 13D and 13Fs I'm not gonna pretend I know their reporting schedule but I believe NUWA reports once a year. They may be required to report when they decrease below certain thresholds (5% holder for example) but I'd theorize Coco is the holder of the all the shares until the transaction is 100% complete. Plus, I think this is a "lax" requirement. I've held 5% of an illiquid stock once and on the advice of my hedgie, didn't report it because in the eyes of the SEC, anything under $100M is chump change.