Well, once the pps becomes larger than the strike price, then the difference gives you a solid basis for the value of the warrant. But as long as we are below the strike price, the only value of the warrants is the speculative "time value" because there is no reason to exercise them.

It's interesting to see that the volume of trading of VERBW was quite low in comparison to the huge volume of VERB (respectively 80k and 1.5m). And for what it's worth, VERBW ended up at +57%

I do not know if the entirety of warrants were part of the PO or if there were already some untradeable warrants before (sold to previous investors, given to insiders...) that can now be traded under VERBW. As for the crazy volume of VERB sold today (as you said earlier Red, somehow someone wanted the price to be there today, for whatever reason), I wonder who sold some warrants today and why (it represents only about 50k$, in comparison to the 4 million traded for VERB). So many questions...

And finally, for what it's worth, I see that VERB just hit 3$ after hours, so there is that

I know I'm packing a lot of raw thoughts in my posts but as I only have a free membership here, I can only post 5 times a day, sorry