NasDaq working on setting up computer program to handle 1 million trades er second for NEWL when it opens
The problem now is that Nasdaq does not feel it will be able to handle or direct the massive volume of trades that would be coming in the very second it opens. They are currently setting up a new system to handle 1 million trades per second just for NEWL. Also looking into how to slow trades and rate of growth when the stock opens. All option (real & naked) will have margin calls and brokers systems will automatically fill them with stock. Buying at open market. This will result in a very massive (VERY MASSIVE) EXPLOSION of the stock price with 582 shorts looking for 34 million shares.
Everyone should have their sell price set at $200+, you can always drop it down when you want to sell it.
I believe NEWL will definitely gap up hard but determining a target price is simply not feasible. Where did you get 34 million shares? I believe the correct O/S is 138 million. However, I do believe there is a massive amount of illegal shorting that will send this stock flying.
Hypothetical scenario. I will wait for an official word. Last thing I want to do is guess what is happening or predict what will happen. I just hope it works out for the best, especially for those who have lost so much already. For me, I'd be happy to break even.