RBZ/WINR -- recent SPAC reverse mergers like PHUN/ORGO.
PHUN and ORGO are unique in the fact that the vast majority of pre-merger shareholders redeemed their shares, leaving virtually no float, warrants not able to be redeemed, and common shares stuck in lockup....--> kind of the perfect storm
that said, despite a warrant exchange upcoming for both PHUNW and ORGOW, in addition to changes in # of shares per warrant and exercise price, it would seem that the warrants should be tracking better. this is where DD does not meet the litmus test. something is awry, and i'm not sure what it is.
that said, in the case of WINRW, these don't have an exchange pending (that i'm aware of), and quite the opposite in fact -- recent PR indicates that the company is interested in reducing the exercise price from 11.50 to 4.00. this is GREAT for warrant holders, but it's pending a vote whose date hasn't been made public yet.
WINR had a great day today, and could have other volatile days. I'm not sure WINRW will track the magnitude of WINR moves yet, since the warrant terms haven't been officially changed yet.
Solid DD combined with timeliness and conviction is a recipe for profits.
