As I said earlier, part of my concern with Remainco is there is no nav protection post-split. If there really is no immediate target, and Bill has no more time constraints of a spac, it can simply be shorted into the ground.
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Once I made the decision to hold it, I am not really concerned for now with short term price movements.
There were 5x orders across different exchanges for 25.5k shares each all at once.
That is my take. Market makers driving the price down to scoop up retail shares. Those sell orders all came and went at the same time, when the price dipped a few cents, they moved down to 22.93 hitting multiple exchanges at once too.
My cost basis is $21 on the commons so I am still in the green and have a floor of $20 for the next few weeks. My hope is Ackman gets on the TV circuit and starts pumping it. Or maybe he doesnt because the lower the price the lower the conversion for warrants to commons. This could all be a move to drive commons lower to reduce dilution with the warrant redemption.
Since I bought units on day 1, my cost basis dropped on the commons after the units split into shares and warrants.
