C3is Inc (CISS)

[Smilin_B]

I sold slightly higher than $1.80 in the pre-market session, before most trader brokerage accounts allow them to trade. My account allows me to trade from 4:00 a.m. while most brokerage accounts make you wait until 7:00 a.m. . In any event, I sold a partial position because I was not certain if we were going to Gap and run after earnings were announced. So I added the same amount of shares that I sold much higher, back in at $1.55 and $1.56. I listened to the earnings conference call and it was pretty amazing. Unfortunately there was no question and answer segment for whatever reason and I'm not sure if they're is any institutional coverage or interest at this time. I definitely was not expecting the share price to actually sell off down to the low $1.50s due to the elevated short interest but these shorts are extremely resilient. Insider purchases were filed a week or so ago to the tune of about 650,000 shares, indicating that insiders feel the share price simply drifted far too low.

Q1 earnings were stellar yet I have no plausible reason for why the shares or not reacting positively. I'm just going to assume that retail investors got a bit of ahead of themselves in purchasing in the $1.60s- $1.70s last week and even higher in the free market session this morning and they most likely stopped out out of pure frustration.

Their loss is my gain. As Q1 earnings news gets digested and disseminated over the course of the next several days, perhaps they will be renewed interest in the shares moving forward.

So yes, this will be another swing trade for me.

I'm in the middle of a couple of other trades so difficult to break down the numbers but I'm sure the post above should answer anyone's questions