surelock, I did not follow the volume closely on the stock during the "above $24/share" period, but I count a total of about 4 MM shares in the last 20 days or so, because of some double counting we must assume that only 2 MM actual shares traded, and thus, comparing this to earlier periods (ove average volume of just 100,000/day or so), I would guess that at best, only 500,000 of these shares were the warrants, thus you are quite right and we still have to expect another roughly 2.2 MM or so to be sold over the next two month. This is going to put even more pressure than I thought, even if you assume that 50% of the remaining warrants will convert without sale.
On the other hand, you got to remember that Rutkovski is "Street Savvy" and can be expected to attempt alleviating the pressure with appropriate news releases and what other means he might have at his disposition. In final analysis, however, a lot of stock is going to be offered in the next two months.
Zeev |
