Mar. 17 at 11:00 PM
$GPUS for those who don't know, tomorrow is the shareholders meeting to vote on a 2:1 to 5:1 reverse split and an increase of the authorized share count from 500m to 2.5billion. they are currently close to the 500m cap. The raise would allow them to fully utilize the 50m open ATM, of which 5m has been used, as well as further dilution under their
$1BILLION shelf offering.
All of this is easily confirmable on sec.gove in form def14a and their s3 registrations.
If the vote passes (it should, Ault controls the vote majority) you may see an immediate reaction, but also may, and it's not certain, see some exit liquidity leading in to the reverse split itself.
Being aware of this vote will help you tell the difference between exit liquidity and reversal, though in this stock it's historically never a reversal.
