The bid/ask spread is obscene- often a buck a share. The warrants are indeed nonperforming. My take is that with Berkowitz's stake so large, the float is too small to interest the hedge funds, and the retail investor in not yet on board. I'm in deep with the warrants, but I might buy more in a couple weeks if this doesn't turn around soon.
As a further follow up, I think the last cc downplayed buybacks in favor of dividends. That gives the common an advantage over the warrants, at least as long as the dividend is modest. The retail investors who aren't spooked seem to think options offer better prices and more choices for maturities.
I own 2000 at $13.90 and truth be told it's all based on demand. I don't think there is an formula that works on trying to figure it out at this point in time except supply and demand because when the stock was at $39.00 before the warrants were almost $16 and last week when the stock was near $40 it never got that high. This stock is seriously being manipulated right now!
So if you sold those 2000 warrants on Monday, would you get around $28,000? As a rookie, I don't know much about warrants. I did read that they are a lot like options. So I'm confused, because if they work like options, you would think you could make some decent money by "excersising" them now at $13.90. Thanks for your reply.