Approx. 85 trading days from the first of August (when the "partners are buying 1B shares" PR came out) and the end of November (when the Preferred conversion opportunity expires).
We're averaging between 10-20M shares a day right now (removing the 2 high volume days from the beginning of August). If they plan on buying even 1/2 of those on the open market (supposing that they received the other 500M from a private placement), they would still be buying approx. 6M shares a day on the open market. To me it seems that they should be able to do that without moving the pps much, especially if they work with an MM and buy between the Bid and Ask.
So I wonder what is going to happen to make the partners suspect they will pay between .06-.10 on average per share? Whatever it is, it's going to have to be bigger news than ungagging the TA and a $6B contract...
"Experience: that most brutal of teachers. But you learn, my God do you learn." C.S. Lewis
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