Jun. 26 at 7:44 PM
$RUBI Support is now at
$5.25/ .21 with share price trending up nicely from those levels. At
$6.50, it’s up 25% from this morning’s low. Broad bid-ask spreads – the now minuscule float increases volatility. For swing traders, ample opportunities here to make $ - bear or bull. Market cap sits at an enormous discount to NAV. With the reopening of Hormuz, the oil tanker business and RUBI’s coffers in particular should do quite well. Against the backdrop of offerings, warrants and reverse splits, the stock is understandably discounted, but now seems grossly oversold. With only 605k shares outstanding, under NASDAQ requirements in the immediate future I don’t see how the company can further dilute and still meet the 500k minimum publicly held share requirement. SP first must increase. If you are shorting this stock in the
$5-
$6 range, you are betting that
$RUBI will de-list – soon. That’s not a bet I’d like to make, but it’s possible.
