Yeah, I remember a few years ago there were two SPACs where the price just went absolutely nuts when mergers were either announced or occurred (can't remember which). And it also happened during a govt shutdown when the SEC was closed, or else SEC may have stopped trading. The warrants on those couldn't be exercised for a couple of months
I believe one was Organogenesis (ORGO). It went to about $300 in just a few days, and then collapsed almost as quickly back to like $7. Pull up a chart going back to Jan 2019 and you can see it. The warrants at the time seemed incredibly underpriced, but ultimately ended up not being so.
There was another company at the same time that went to $500 but can't remember the name right now (I want to say it was a software company out of Austin). In both cases it seemed like a crazy price manipulation but I don't claim to know how it worked. It just didn't seem like natural trading.
So yeah, MWM, keep in mind that during some crazy manipulation the price can also fall incredibly fast. The warrants might work out great, but they also may not -- in spite of it currently looking like a gimme.
