Well here’s the thing, if the retail SPP had a VWAP minus -2% in the 5 days leading up to the close then I’d say yes absolutely someone is playing funny buggers driving the price down to get as many as they can in the fill on the cheap. I saw this myself in April with MTS who raised $300M with instos at $2.80 who also underwrote the retail component and they drove it down to $2.25 before it quickly recovered to $2.80 in 2 weeks after the close.
However this one is different as it seems they don’t have a VWAP and instead it’s a flat $3.50 which is bizarre so I can’t say it’s due to the same reason as above - something else is driving this one down and I don’t know why it’s bizarre.
What I do know is these prices are crazy and those with patience will be very well rewarded in time getting in at these prices.
GLTAH
IFL Price at posting:
$3.10 Sentiment: Buy Disclosure: Held
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