CALA's cash position is another reason why I'm not overly concerned with any splits within the next 3-4 months, although admittedly their burn rate is a bit high. It's the dreaded RS and then offering combo that really kills, which I haven't seen a lot of the last ~2 years, but I bet we start to see more of again starting late year, along with more splits. A lot of time between now and then for dead cat bounces though.
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