Replies to post #308 on NRX Pharmaceuticals Inc (NRXP)

[Tiger Money]

it is because the convexity profile of the warrants. think stock options and that may help as you can't simply subtract 11.5 from the stock price to get the value of the warrant. so the warrants have delta, gamma (convexity) and theta (time value as they expire in 2025 i believe. when nrxp finally runs if we get eua, the return on the warrants will supercede that of the stock. if the stock goes up say 80% the warrants will be up about 120%