Nope, no news announcement as I am not...
...privy to any such information.
...simply tracking/charting ONE OF THE FACTORS that could explain what is going on.
...hope it is 'games to MAX the conversion of the Series B and we get an announcement.
...if not, then there certainly is a lot of real liquidations of positions (and yes, someone is on the flip side of each).
...could be a FACTOR of potential decrease in US corporate tax rate on the NOL deferred tax benefit.
...if the rate, for example, decreases to 15%, that is 42% residual (a loss of 58% of the benefit).
...as PPS was floating around $2.50, the proportional relationship would result in a 'after tax effect of $1.05 (using $2.00 around Election and its $0.84).
...so, with resistance @ $1.50 it makes me lean towards it is not all about the tax rate, rather MAX conversions of the Series B.
...and the 'lack of reference to "in the process of dissolving WMIIC" in the most recent quarterly (such empty shells are classic SPAC).
...why the non-Series B institutional funds didn't see this and act is disappointing (if such is the case).
...or, with their Chinese wall chats, they might believe that the planned M&A will "underwhelm the market."
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