Yep, I agree. Coagulation as you put it was anticipated. And hope is for a turn around. I had not read your posts before about coagulation. The build up in speed is understood and what is hoped for. Dilution selling 100s of millions of shares a day does drive the price lower, does it not? Ted mentioned “Wall Street loves liquidity.” A run and higher pricing is expected some time. Is it before or after another Reverse, if another Reverse at all? It does seem they’re selling like crazy, and they only have 5 Billion shares where $30M ’raise’ at 3 cents is 1 billion shares, and at a penny is 3 Billion shares.
Also mngt started and kept doing really poor financing deals undercutting share valuation by 30% to 70%, Cannacord providing discounted share buy-ins then priced under the current value, and with cheap warrants further undercutting valuation. So, trend down was started and then reinforced by Helios mngt.
10,000 pre-reverse shares now just 40 shares worth $1.20. That seems abusive to me.. Yes, a ‘coagulation’ as you say. What is their ‘true vslue’? Valuation was about $13 M before the Q2 release. Now likely about $35 M. Well, that’s a nice increase, yet share price tanks for this to occur. Ted n Mitch made for a rosy outlook which appears was misguided and then not acknowledged. I hope they pull it out. Hope they show us what they’ve quietly been saving to establish their place in the marketplace well beyond the competition, as Mitch suggested. Yet their relayed confidence and ‘no problem accessing funds’ is countered by needing an emergency $6M loan to pay their credit card processor which resulted in their subscription service not working. Etc.
MoviePass success may not be contingent upon a high HMNY valuation.
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