Listen up peoples.... Let me tell you why I am not worried one single bit. I hope it helps reassure others.
First of all, let's talk about what we know about the merger itself and then let's focus our attention on the speed at which it was executed.
We all saw yesterday that the price was hammered down 50% premarket while we, retail weren't able to trade. Probably a lawsuit in there somewhere but I won't comment on that.
This happened to a stock that is big on BITCOIN, with its own power plant (clean energy). At the same time the price was being hammered down, the BITCOIN price was rising and getting close to the 50K mark yet, GREE still continued to go down throughout the day.
What is interesting is that I, just like many others haven't had SPRT shares converted yet (hmm!!). Even more interesting is the numerous posts from SPRT holders who are saying they have had some of their shares converted but not all (double hmm!!)
What can we deduce from this evidence Watson? (pause for effect while taking a puff of my pipe)
I also rode the TRCH/MMAT merger and I am not aware of anyone who didn't have all their shares converted at the same time. So, this tells me this 'partial conversion' of shares situation is not a merger issue per se, rather a specific SPRT/GREE issue..
So, let's look into why I think this is specific to SPRT/GREE? (another puff of my pipe)
If you bear in mind we have been on the threshold list FOREVER... or so it seems, and combine that with the fact we went into the merger at almost 100% short interest, you come to the conclusion...
'THERE AIN'T ENOUGH FUCKING SHARES'
thats right boys and girls... although they may be able to carry over the legal shorts to GREE, which in my opinion will hurt them even more in the end, they cannot carry FTD's and naked shorts over... because they shouldn't and can't exist.
Most of us probably own shares that were a result of a short position or even worse, haven't been located yet by the MM, hence why some of us haven't yet received any of their GREE shares or, only partially received.
So, how can they get the shares they need?
Well that is an excellent question Holmes! The answer is simple my dear man...
'THEY DUMP THE FUCKING PRICE HARD TO SCARE RETAIL INTO SELLING',
Well well... Isn't that exactly what they have done, and everyone (except me) is panicking?
Ask yourself another question... as they've managed to drop the price 85+% in only a few days, why not just cover now... they've won! They get to cover at the equivalent of $5 rather than 20$+. Do you not think it would be the perfect time, after all, GREE is a BITCOIN play with huge potential as it also falls inline with the GREEN energy policies of the US Government... Furthermore, BITCOIN is close to all time highs.... El Salvador has made it legal tender, companies like AMC are now on the record saying they will except it as payment. Do you really believe that the shorts think GREE is worth less than 5$ a share????
No, you don't therefore, YOU WOULD HAVE TO BE FUCKING STUPID TO NOT TO COVER AT THIS PRICE!! and hedgies are many things, but they ain't stupid !!!
They are not covering. In fact, they borrowed more when the most of us aren't even able to trade the stocks we legally own (another possible lawsuit in here.... but I won't comment on that either).
I am more than confident that we are not seeing any covering because they simply cannot cover.... and they know they cannot cover... so they take the last ammo they have and try inflict even more damage to the share price in the hope of scaring retail out of the precious shares.
Now this brings me on to the second part of my case - why was the merger executed at such speed?
SCENARIO 1 - Was it done quickly as many are claiming to screw Retail?
Well, if it was, it came at a price to ALL shareholders, not just retail. They own the same company we do, which means, their share price ALSO halved in premarket, just like ours. So, unless they got a real big payoff from the HFs to do it, why would they shoot themselves in the foot? I don't fucking think so GREETARDS!
But to remain objective here, let's say for a moment, they got a huge payoff from the hedgies, (pause to giggle), to fuck retail.. Let's explore the reason why hedgies would want to pay them off?
Simple you would say, because they wanted to cover their legal and illegal shorts at the lowest price possible... correct me if I am wrong please.
To summarise the highly unlikely scenario 1 - the owners of GREE helped the HFs to screw retail over. By doing so, they shot themselves in the foot and their own fortunes were halved over night. They did it to give HF the opportunity to get out of their positions before the price takes off.
Guys.... (turns to the audience for effect) - If this were true.... why aren't the HF covering now, what are they waiting for.... a better fucking price - c'mon people... think about it!
OK - SCENARIO 2 - Was it done quickly to trap the FTDs and shorts?
I have never heard of a CEO who 'likes' institutions that short their company. If fact, some of the more public exposed CEOs (like Elon and AA) actually make comments about their dislike for those who want to see their company fail... With that in mind, and knowing that almost 100% of the SPRT float was shorted (and that is only the legal shorts), why would GREE want to bring this insane amount of shorts over to their company - GREE?
Let's be honest, if they had waited and SPRT squeezed before the merger, most of us would have sold their SPRT shares for a nice profit. Then, the SPRT price would have settled down again.... tell me I'm wrong?
By executing the merger quickly, they were able to bring the short squeeze potential over to GREE where they, as the existing owners of non tradable GREE shares (remember the free float of GREE is the old SPRT shares), could profit in the event of a squeeze. If we are also honest, GREE is a much healthier company with an awesome future potential, this will probably attract more institutional buying... Don't forget, a high short interest is not enough to trigger a short squeeze, you can only trigger a squeeze with buying pressure, SPRT was not producing that necessary buying pressure.
Furthermore, by executing quickly, they would know it would cause a huge problem for MMs who had lent out shares for shorting, without first locating those shares. Hence, the continuing FTD problem and inclusion on threshold list. The fact that many of us haven't received our converted shares yet only confirms that our brokers are finding it difficult to get the shares for us.
In order to provide us with the legal shares we own, these shares need to be found... in other words BOUGHT.. But if nobody is selling.... where are they going to come from?
Remember, the market price is driven by supply and demand.
The price we are seeing now, is irrelevant because I am not selling... if you want my shares, you pay my prices otherwise you can continue to pay the CTB for a long time... it doesn't cost me anything to hold but it costs you as a HF to wait.
There is also a SCENARIO 3 where there was no plan in place and what we are seeing is just chaos, where retail is blocked out and HFs are free to manipulate. Do you really think the lawyers and accountants who plan these mergers would fuck it up that much? Do you really think they would have been blind to the huge lawsuit that would be brought against them... the fallout from the SEC.
No, sorry I don't think so....
So, in my humble opinion, I think we are seeing the result of a well executed trap against the shorts... it may get ugly, (it already has) but you only lose when you sell... Remember what you own, shares is a BITCOIN mining company.. a unique company that is GREEN!!! Green is the new black... sustainability, the future of the planet etc. Crypto is the new currency, gaining traction... at all time highs.
Once the merger is complete, with a greater than 1BN$ market cap, algos will initiate buying... it is hugely undervalued.. Other retail buyers will get in (MMAT for example has already more than doubled from its lows post merger... and their short interest was nothing compared to SPRT/GREE.
Once the buying pressure starts... the short squeeze will come... but when is anybody's guess.
If you really believe that GREE is a sub 50$ stock then why did you buy SPRT in the first place?
Me... I am selling other positions and buying GREE... best opportunity I have ever seen!
this is not financial advice... for me, common sense!
