I think there are a lot of shorts, and I don't think the float is as high as your calculations are saying. Maybe 9-10MM. And maybe 6-7MM as a functional float. Could be as much as 3MM shorted right now.

I'm almost wondering if PIC is getting back their original investment. I doubt that though.

The other thing about the spread is if you watch the trades, there are bunches of shares that move outside the inside spread. So hidden orders maybe?

No clue. Like most everything else in life that is good, this will take some time to play out. Hopefully in the direction some of us want.

Having said that, predicated on how you got in, everyone should still be up significantly on this, so no sense worrying about paper losses.

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Posted by Omada

Member since Jun 2015

695 posts

Posted on 6/18/15 at 10:39 am to Iowa Golfer

quote:
I don't think the float is as high as your calculations are saying. Maybe 9-10MM. And maybe 6-7MM as a functional float. Could be as much as 3MM shorted right now.

I was doing manual calculations: 57% ownership by Lawal, 30% by PIC, 2.5-3 million shares owned by upper management and BoD, ~1 million owned by institutions according to Nasdaq 13F information, an additional 1.5 million bought by Lawal, etc. That gave me a range of 22-24 million, but there are obvious limits (such as hedge funds either too small or exempt from filing a 13F with the SEC and any shorted shares).

Yahoo Finance says 9.93 million and TD Ameritrade says 11.3 million (since Yahoo also says 2 million are short, I will assume TDA did not cut the float by shorted shares). I think I'll leave the float calculations to those with more information than myself from now on.

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