$14,000,000 of smart hedge fund money says SIRC price is going up and guess what? It's continuing to go up, even though the entire market is down today... Follow the smart money!
SIRC cleaned up their balance sheet and have a list of definitive projects, is growing their Finance Division to service all alternative energy contractors, which all increases shareholder value. The reason a professional institutional investment fund like Granite would accept such a low amount of shares 4mm shares at the premium price of $3.50 a share in exchange for cancelling their $14,000,000 in debt with SIRC is they probably have done deep due diligence in the company and understand that it is extremely undervalued, they understand the value proposition that this stock will be well over $4 when they go to NASDAQ. They can go to Nasdaq via a reverse into a SPAC and this would cause a tremendous short squeeze, killing the shorts. Granite also probably understands that SIRC can get more funding with this debt off the balance sheet thus facilitating the increase in share price for the company as they have more capital to execute on their business plan. As this happens the price will continue to rise burning the shorts and causing another short squeeze which occurs before the short squeeze caused by the SPAC merger. Additionally, or alternatively, as an investor that has put $14,000,000 into the Company, Granite probably has access to more information than retail investors and is thus far more bullish than the average investor on SIRC’s prospects. I’m sure they did the math and understand the upcoming catalysts before agreeing to this. SIRC is at a bottom price now and is primed to take off.
Bullish
