The stock price is up 50% in barely a week and no comment here. I’ve been long since pre despac so I’m very aware of how this stock trades and this week was very different. Below is what I wrote on another message board. Just food for thought.
Per fintel the short volume as a percent of traded volume collapsed in the last few days to very low levels, so the shorts are leaning far away from this very steep move which suggests they know something , as normally they’d aggressively lean into it. The sector has not run up near as much as CLVR this week (unlike the February run up which was sector wide) so I just don’t think this is due to a possible decriminalization bill finally coming to the Senate floor. If this were a newsletter or analyst recommendation I could certainly see a one or two day run up but nothing like the activity we’ve seen the last week. Oversold rallies rarely go from oversold relative strength and money flow to almost overbought in barely a week on no news announcement and without similarly strong moves within the sector. Earlier in the week when I saw GME and AMC were again on a tear, it made me wonder if this run up in CLVR was the wall street bets group piling in (I have not been able to verify it). So, having ruled out most possibilities, if it’s not the WSB group then I think a very significant announcement is forthcoming possibly even a buyout or merger of some sort. Adding to the mystery, the warrants are at $2.55 on Fridays close but they were well over $3 the last time the commons were in this low $12 range, so either the warrants are undervalued and will catch up or this reduced spread differential is telling a bigger story...that the $11.50 strike is keeping a tight leash on the warrants pending forthcoming news. . Curaleaf just bought EMMAC for 286M to position itself for EU growth in coming years. So what would a company pay for CLVR to be able to position itself in a similar manner in the EU plus gain huge exposure to the entire Latam region? Anything less than 500M would be a really bad deal for investors imo. Just spit balling here but this latest activity is way out of the norm since its despac.
