re: big cross-patch energy?
It would make a lot more sense for a VC fund to be profit taking at this point than for Patch. Many VC funds have some constitutional guidelines of when they exit start ups and my guess is this is one of those times. PXS is almost a fully fledged grown up and that is exit time for the VC (I hope).
Someone bought this stock so they are convinced that they will get a good return on their $7m investment. Now if I was an insto putting that sort of money into a biotech with no current revenue then I'd need to expect a good return on the money to counter the risk (apparent or real).
The price slighly below market reflects a postion that both sides are comfortable with - the seller could nevr get that price on market and the buyer needs some comfort that there is already some upside in the SP.
More I reflect on this transaction the better I feel, could be the red wine......
Have a great weekend holders
Zinc
PXS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
