I think it was a brilliant move yesterday by Rory.
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Posted On: 01/24/2023 10:13:11 AM
I think it was a brilliant move yesterday by Rory. It may be due to talks with Roger Hamilton of GNS and other small cap stocks that have joined the fight against naked shorting.
Step #1: Force the shorts to cover.
Verb Board to Evaluate Actions to Address Suspected Illegal Trading of Its Shares
Notice how high yesterday's trading volume was? 145,501,500 trades.
https://www.nasdaq.com/market-activity/stocks...historical
If I was a short, I would have panicked at both the volume and price. I'm sure there were plenty of shorts (both legal and naked) that panicked yesterday and ended up buying back shares at a loss. That sure did help our SP, which allowed for Step #2.
Step #2: Use the ATM when the SP is high to get maximum value out of the offering. Shorts helped the most by covering and raising the SP value.
Verb Technology Company, Inc. Announces Proposed Underwritten Public Offering of Common Stock Without Warrants
I here the most complaints from shorts about VERB's ATM offering. Why would that be? Let's see, they think they need to cover due to the high volume and quick rise in SP. They covered at a loss while the SP was skyrocketing. Now the SP came back down below the peak of the day (but still about a 70% gain from the previous day's SP). Shorts now need to borrow again in order to short the stock, which looks like what is happening as I type.
Any long term investor would not be harmed by the ATM in my opinion. As I mentioned before, we actually closed higher yesterday than we did on Friday before the Verb Board announced they were planning to evaluate actions to address suspected illegal trading of its shares. It closed almost 70% higher yesterday compared to Friday's close. Only people that could be upset with that are shorts and day traders that may have missed their window to trade.
Step #3: Wait for shorts to short the stock again before releasing stellar news about an acquisition, merger, etc.
Looks like the shorts are going at it again this morning as I type.
Another update,
Since December 28, there has been 17 trading days. VERB's SP has gone from $0.1093 to $0.388. That is an average of 15% per day increase. If the SP continues at this pace, it would take about 7 more trading days to achieve a SP around $1.03 on February 1st. If we get a good PR or two, then we will most likely reach $1 or more before then. Nothing is guaranteed, only observing the price trend over the past 2 weeks.
Step #1: Force the shorts to cover.
Verb Board to Evaluate Actions to Address Suspected Illegal Trading of Its Shares
Notice how high yesterday's trading volume was? 145,501,500 trades.
https://www.nasdaq.com/market-activity/stocks...historical
If I was a short, I would have panicked at both the volume and price. I'm sure there were plenty of shorts (both legal and naked) that panicked yesterday and ended up buying back shares at a loss. That sure did help our SP, which allowed for Step #2.
Step #2: Use the ATM when the SP is high to get maximum value out of the offering. Shorts helped the most by covering and raising the SP value.
Verb Technology Company, Inc. Announces Proposed Underwritten Public Offering of Common Stock Without Warrants
I here the most complaints from shorts about VERB's ATM offering. Why would that be? Let's see, they think they need to cover due to the high volume and quick rise in SP. They covered at a loss while the SP was skyrocketing. Now the SP came back down below the peak of the day (but still about a 70% gain from the previous day's SP). Shorts now need to borrow again in order to short the stock, which looks like what is happening as I type.
Any long term investor would not be harmed by the ATM in my opinion. As I mentioned before, we actually closed higher yesterday than we did on Friday before the Verb Board announced they were planning to evaluate actions to address suspected illegal trading of its shares. It closed almost 70% higher yesterday compared to Friday's close. Only people that could be upset with that are shorts and day traders that may have missed their window to trade.
Step #3: Wait for shorts to short the stock again before releasing stellar news about an acquisition, merger, etc.
Looks like the shorts are going at it again this morning as I type.
Another update,
Since December 28, there has been 17 trading days. VERB's SP has gone from $0.1093 to $0.388. That is an average of 15% per day increase. If the SP continues at this pace, it would take about 7 more trading days to achieve a SP around $1.03 on February 1st. If we get a good PR or two, then we will most likely reach $1 or more before then. Nothing is guaranteed, only observing the price trend over the past 2 weeks.
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