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Thursday, February 13, 2014 8:48:48 AM
The selling going on yesterday is still investors hedging their position.
Think about it. If you purchased the new issue shares at $1.40 where it was priced and you have a FULL warrant go with it then you ascribe a value to the warrant – lets even say $0.10 per warrant at a minimum.
Then you could sell the your free trading shares all day long at $1.40 less the warrant value of $0.10 or $1.30 and you would still be even.
That is what is going on here.
The hedge guys were all over this issue.
I did not say that on the 19th this was going to rise to $2.00 but I am confident in my opinion that we will be there much sooner than most people think. So what if we don’t get there in the next few months, I have lots of time.
There is lots of strength from my perspective in the way this is trading.
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