...What a brilliant and intriguing move by Glu/MGM...If you read the filing clearly hints at larger things to come and the warrants are structured to put a floor under the stock, NOT a ceiling...Kinda like the opposite of a secondary/magnet. Lots of shortsighted folks chasing their tails over a nickel or dime, while Glu quietly RAISES THE BAR...The possibilities are mind blowing, and once again illustrates why you gotta be in the shares for when big news hits. Going to be some frantic shorts covering on this news. And perhaps an analyst note or two will chime in...This is the kind of creative, intriguing, shareholder-friendly deal that has the connections and fingerprints of Lorne Abony our "Strategy Committee" Chairman all over it. WELL DONE..Cheers~
Agreed. I've felt it's worth holding a core position in GLUU and that's what I've done for awhile now - exactly in anticipation of a situation like this.
I had an extra swing trade on that I got caught in but was happy enough to hold it knowing I'd get out of it sooner rather than later (and if I didn't I was happy enough to add it to my overall holdings).
The silly thing is, I was contemplating going for another swing trade when it was hovering around $2.40 or so but decided against it as it would have meant holding too many shares (in the event things moved against me).
Oh well, still more than happy with my current set up. GLTA longs! Today should be interesting!!
Yep, I may have jumped out too soon. However, if you read the Zynga board Blueskydriving recommends selling if there is a run up tomorrow, and I agree. With the number of shares shorted and these new developments, we may see a run over $3.00 tomorrow. After a few days, you may see it fall back.