We never ran from 13 to 20 when sportsbook was supposed to be released. Also, the outlined release time has come and gone. We saw 2 big sell-offs, and all those shares were absorbed by new investors. Anyone who is/was going to panic on the lack of sportsbook release already has IMO. Any more selling would be just a lack of patience. We moved down on low volume. Today was the first day we saw some considerable buying pressure at the ask. I presume it was new investors taking this as a entry point.
I'm still not really sure who all those 14s were. It wasn't a completely "Fake wall." It took a decent amount of pressure to knock a few of them down. If we had that kind of buying a few days ago when we sat at 15/16, we'd have moved up 3 tics.
I don't believe any PRs will come out until all these Ts are finished. We don't know when that will be, because we don't know why and who the shares are going to. There has not been a ton of money transferred in those Ts, only a lot of shares. As I've said before... Someone is taking these shares at a cheap price and believes they are going to be worth something. The amount of dilution from them will depend on when and how much are sold... and at what price. If someone is involved with the company, and is trying to actually make some money on their newly acquired, they'll hold as long as they believe the company is undervalued. There may be restrictions involved with these shares. We just don't know.
But again, these Ts are being traded at a pre-set price, so the PPS needs to stay here until all transactions are finished. This is all going off the theory that these shares are being used to buy property. If that assumption is not correct, my logic is flawed.
