Clever Leaves Holdings Inc (CLVR)

[kahlua]

There has been extreme selling volume since the reverse split (daily volume by price chart says it all). Good old shady as hell Canaccord, CLVR’s sales agent for the at-the-market offering, has apparently tagged in the shorts/mm’s to dump into the bid with impunity and cover with the cheaper ATM shares. Until regulators step in and stick Canaccord and similar players with huge punitive fines, instead of tiny slap on wrist $100k fines, these games will never stop to the complete dismay of most retail investors. From the volume chart, I am estimating about 700K shares have been shorted or sold via the ATM since the share reversal. Let’s see where the stock trades once the dust settles and that should give us a clue of how much dilution is currently occurring. Based on my calculations using the latest cash position (7.8M) + estimated remaining Portugal assets to be sold ($1.5M) confirmed 2023 revenue and ebitda guidance and ongoing opex, I suspect they need another $3 - $4.5M to shore up all liquidity needs through Q2 2024. With that in mind, I am going way out on a limb and guessing we are going to see the share count go from 1.5M to 2.5 or even 3M in the near term, meaning significant dilution, which they were incapable of orchestrating prior to this r/s. Been watching this stock unravel since the ipo and unfortunately still holding some virtually worthless warrants.