Guessing this news makes recent covered calls 'safer'
unless of course they find a way to jack up the target price.
Something like this: yes, we know its currently overvalued, so to protect existing shareholders from the dilution impact? We will issue a much higher target price so that new investors will help drive up the share price and bury the impact of the dilution..
Got to love how wall street and companies are turning to the selling of shares. Seeing it quite a bit right now and who can blame them when their valuations are off the charts (maximizing the bucks while they can for each share sold)
Good luck. Disclaimer: still no position waiting for it to find a bottom before I try weekly covered calls again (as long as the premiums make it worth it)
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