Hi All,
Good question Swoopa,
Personally IMO Drake is a Hedge Fund where there are exit plans in place with all their investments. This obviously triggered on the AVQ court win where the SP was sold down to 2cts.
The appeal caught everyone by surprise including Drake and I do not agree with posters proclaiming Drake knew of the appeal being granted and sold off.
I bought more yesterday morning @ 2cts, spoke to a few larger SH'ers who are in contact with management and no one, I repeat no one, could see the speed at SMM success at placing a Temporary Injunction yesterday.
What will happen from here is anyone's guess but their (Drake) options could be to;
1/ Keep selling and take the balance as a loss or brake even.
2/ Wait for the injunction to be lifted again and recommence their de-vest on the bounce.
3/ Hedge again on a possible win hence more buying at these lower prices.
Regardless, if the TI is lifted, there will be short term suppression of the SP as there will be profit taking but as the change of investor registry moves on from fund management and Soph's onto LT and retail investors we will see less fluctuations and an increase floor in the MC.
Back to waiting for the Judge's decision, and this must be final or our future is at stake. Due to this I have changed my sentiment to Hold until further court clarification.
What a roller coaster ride this investment is.......GL all
cheers
M
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