Aug. 17 at 8:30 PM
$TNFA
The $.3640 warrant level acts more like a price magnet than a pure dilution risk for this trade. Converting and selling the warrants takes two days due to settlement rules. The first day should be a clean runner, while on the second day the warrant shares become active and they’re sitting on a significant number of new shares approved in the June vote. The volume profile thins above
$0.40, suggesting a move to the
$0.61–
$1.00 range is possible, though not guaranteed. I would expect an offering near the top of the run on day two. This is purely speculation, not trading advice.
