Yup. For Every Eager Seller, there is an eager buyer. So far SPIN has traded around 20% of the float in the mid-teens over the past few weeks. Not bad for a stock that spent two years in the low single digits. Ya think something big might be brewing?
Read the Sticky if you want to know why this is waking up.
The "sticky" on SPIN is full of misrepresentations and SPIN is nothing like a "SPAC" like situation.
It is a poorly run company. Run into the ground by its current mgmt and BoD. It's only hope and the hope of existing SPIN investors is a reverse merger with a competently run company.
Lotta factors will play into what % of any new company existing SPIN holders will get. SPIN's only value is a clean capital structure and capital loss carryforwards presently that a properly run company can use. SPIN's mgmt is a ZERO add. And the few assets that it does have diminish on a daily basis.
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