Friday, October 24, 2025 3:09:17 PM
It's so nice to jump off the bottom, though some will complain that we probably won't close at the HOD. You can never please everyone, LOL.
I think there was at least some pure random trader momentum buying, including by some who probably misunderstood the deal. Namely, that the whole of Advent's revenue stream will not be additive to NW because 70% or so was what NW itself was paying to Advent. Also wrt Advent's total assets, most of that $ amount is accounting for the AP that NW owes to Advent. That amount is stated to still be payable as consideration, so that can only mean that NW still has to pay that amount to the former owners of Advent. I.e. NW isn't going to be paying itself, hence that isn't an improvement to NW's balance sheet, though some might do a quick read and think that since NW is acquiring Advent, that cash asset will go onto NW's balance sheet. It won't; it's still only a liability to NW.
I think there was at least some pure random trader momentum buying, including by some who probably misunderstood the deal. Namely, that the whole of Advent's revenue stream will not be additive to NW because 70% or so was what NW itself was paying to Advent. Also wrt Advent's total assets, most of that $ amount is accounting for the AP that NW owes to Advent. That amount is stated to still be payable as consideration, so that can only mean that NW still has to pay that amount to the former owners of Advent. I.e. NW isn't going to be paying itself, hence that isn't an improvement to NW's balance sheet, though some might do a quick read and think that since NW is acquiring Advent, that cash asset will go onto NW's balance sheet. It won't; it's still only a liability to NW.
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