Aug. 22 at 9:44 PM
$CNVS In theory these people should want CNVS much higher, not sitting at
$2.60 after the company just reported those numbers.
And yes, I know price and business are two different things. But I’ve traded long enough to know when price action simply doesn’t smell right. You don’t trade 9M shares in one day on a stock that normally does 100–200k, fail to hold the move, and then spend the next two months apparently capped around the same area without making me wonder who needed what from that trading.
Especially when the deal itself contains convertibles, hedging rights, etc.
Also... I’m saying it... the tape looks dirty...
And if everybody involved is supposedly aligned around creating a much bigger and more profitable Cineverse, I’d really like to understand why the incentives created by this deal seem to make trading around your own slice of the pie more attractive than simply making the pie much bigger.
That’s what I don’t like. And that’s one of the reasons I’m voting NO...
