They entered into an agreement with an underwriter to sell $100 million worth of stock “at the market”, which means exactly what it says, sell as much stock as you can at whatever market price you can get. If you refer to their most recent earnings report, they have only sold about 10% so far
This happens every single time. They make some kind of grand announcement, then before you know it, the price crashes just as fast as it went up. All ATM offerings work like that. OSTK, the most manipulated stock on the entire Nasdaq, would act the exact same way. The spikes, just like the sudden reversals, always occur when you least expect it to happen.
They have to draw you in somehow, right.
DISCLAIMER: This is all my opinion, and I am not a financial adviser. You should consult a financial adviser before making any decision with regard to publicly traded securities, or any security for that matter. I make no assurances as to the accuracy of the information contained herein. This company carries an extremely high degree of risk and you should not use this article as the basis of an investment decision. You should consider this information as similar to personal insight from a peer/friend/acquaintance, and thus it should obviously not be the primary source material you use for basing an investment decision because similar to any opinion from a peer/friend/acquaintance, it could be completely and utterly incorrect!
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