Nov. 6 at 9:57 AM
$CLVR
Something just occurred to me, tell me if my postulation is off base. Is it possible that Clever Management realized they were making a huge mistake by being public, the float (shares available to the public) was so tiny. A large percentage of the float was owned by retail & institutional investors, and therefore, these investors owned the Clever Leaves company. These tiny outstanding shares represented the full value of the company.
Management had to act quickly to take the company private while the float was still tiny, especially if they could avoid paying market value for the shares.
OTC is offering sell only at
$0.0001.
If my postulation is correct, Clever was very clever in their creative writing and the reasons for delisting the shares, i.e. maintaining a Nasdaq Listing was so time consuming and costly, which infers relisting of the shares at some future point in time. This is complete speculation on my part, but this is what I would do as management of Clever.
