Which way will they take it
$SOBR Safe (SOBR.US)$ 60 million shares to be sold with 29 million being the exercising of warrants. Exercising the warrants will cause an inflow of capital and send the price upward to 19.00. But they can sell shares first and send it down more. Either way they are making money since they shorted it down from $19.35 they also are the reason it ran from 3.80 to 19.35. Thats why they have 31 million shares and 29 million warrants because they exercised 1 million which generated the inflow to run the stock. Then used the shares to short it back down to where its near today. Whatever is going to happen will occur between the price of 3.70-3.81 and probably about 30 min before the market opens today Monday or at the latest Tuesday. It will be very high risk because they can drop it big and fast or run it up the same way. May the force be with you young grasshoppers. 😂 I will get a few at 3.75 but nothing to stress over.
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luckme : Where did the idea of shorting this stock come from if shorting is not allowed?
Mcsnacks H Tupack OP luckme : The hedge fund that exercised the shares sold them in dark pools as short shares in order to make it fall. Dark pool shorting is allowed.
Mcsnacks H Tupack OP luckme : And it's not really shorting. The shares they sell in a dark pool haven't been processed into physical shares because that takes 60 days after exercising them. Once that 60 days is up they give them the shares which covers them without causing any price movement back up.
V Quokka : Why is it free falling?
Drosen21 : I guess we know which direction they chose… of course
Mcsnacks H Tupack OP V Quokka : Exercising warrants. So it will dip then recover then dip to a new low. Recover some.
Mcsnacks H Tupack OP Drosen21 : The company has already filed to do a Reverse split if that tells you anything
Drosen21 : Just watching for now