I agree and now since it closed over a buck this week (didnt go 30 trading days below a $1)there is no threat of $1 compliance notice which is very important
obviously underwriters bid it up and made sure it closed over a buck for at least 1 day before july ,31 (basically end of this week) in order to avoid delisting notice
from prospectus :
" ..The underwriters may also elect to stabilize the price of our common stock or reduce any short position by bidding for, and purchasing, common stock in the open market. "
now since underwriters were allowed to short/naked short the stock (at higher prices of course) the question is how much did they short and when will they elect close cover their short/naked short position
"...Specifically, the underwriters may over-allot in connection with this offering by selling more shares of common stock than are set forth on the cover page of this prospectus. This creates a short position in our common stock for the underwriters’ own account. The short position may be either a covered short position or a naked short position. In a covered short position, the number of shares of common stock over-allotted by the underwriters is not greater than the number of shares of common stock that they may purchase in the over-allotment option. In a naked short position, the number of shares of common stock involved is greater than the number of shares of common stock in the over-allotment option."
one of the positive things in all this is that they didnt let idxg get delisting notice meaning they care about it and/or they have something in plan that would involve share price appreciation
i guess we will have to wait and see what happens
in my opinion
gl
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