I suspect he is fully hedged against this and will probably make millions off of it..and may end up owning the company when any settlement is finalized. Just remember...the rich are getting richer and the poor are get poorer. That is how wallst is set up..
Buy it up; make it do something no other stock has ever done. They are dealing in a multi-Billion dollar market. Oh..if they can only get a small small % of that.
Watch em drink all the juice out of this over the next few days. Easy money if you buy low and sell on the pops. But maybe I'm wrong this time....but will they ever do anything else but loose money and keep on diluting??
Happens all over the markets. A stock runs up on a little hype; pipers and buddies in the know start shorting at the top of the run up; then after it backs off a little...low and behold...a pipe deal is announced @ about 15% below market. Then as the days/weeks/months roll by....the pipers with all their millions of shares to protect themselves...continue to hedge/short/naked short/cover/repeat..as necessary to make mucho easy money from sucker retailers. I've seen em drive the pps to 1/10 of the hype high. SEC must love it because they make the rules. Wait...I'm on the wrong board...sorry.
LOL. The judge will take SIGA to the woodshed if they start trying to play games. But I own both..so I'm happy that both will probably double/triple in next 3 years. I can smell that money already..lol
As price continues down, dilution will explode up and will probably force a reverse split; then another pipe to start it all over again. It seems to never end. I could be wrong, but I've seen it over and over with POS stocks like this. The hype sounds good...but never any real fruit for shareholders to enjoy...unless you know the right people and are in on the short scam.
Takes guts..but buy more if it drops from this level...imho. You're getting shares much cheaper that the $9+ pipers and they have inside info,
I suspect the main seller down here is the company, selling shares via pipe ATM to make debt payments. The piper then either shorts all retail buyers or manipulates the pps up a few pennies to distribute shares to retailers...then shorts it back down...repeats over and over until something good really happens or until the company goes bk. Wallst is an organized scam with rules made by the scammers..then approved by the SEC...jmho
Is this going to happen every month for the next several months??
Their debt is about 1/2 of the Market Cap now, but I suspect they are selling cheap shares to their pipers to make payments on the debt. The company gets free money, the pipers get MILLIONS more shares to manipulate with, and us peon shareholders get...well you know.
They've almost knocked it in half in just a few days, taking high buyers to the cleaners. Thankyou management for the loss; I've been suckered again. When will I ever learn.
Just when you think they have their belly full, they want more. I wouldn't be surprised now to see them scam short it down into the 60s-50s, maybe even 40s. Could they possibly know that a new pipe will be done in the near future that will give them millions of more shares on the cheap?
I suspect a piper short scam is in progress after they popped it to 1.30 or so to get it started. If so, I hope their only intent is to lower their average and not BK the company.