There are 2 things that scare me about WAX:
1. If they do not get the bid then they have 80 million shares that would be getting dumped into the market, unless they would hold to try and get the higher PPS that may be offered. But if they would dump all those shares, this thing would go down next to nothing..
2. If they do win the bid for the company, since they own 80 million shares already, do you think they may just do the cancelation of the shares? Since they own so much, it would help them have a bigger say in the right for the takeover. I know they wouldnt pay themselves back for the shares they bought, and possibly not for any of the remaining shares.
One good thing I saw on that list, though, was it was WAX AMERICA and not the Chinese based WAX. Man its tanking right now....
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