Hey Nerds: Blockchain

[Preston]

The thing about SPACs is you can always get your $10 of cash back before they de-spac.

I was offered that with GRAM

Yeah same, forgot about that

 

[LeafOfFaith]

The thing about SPACs is you can always get your $10 of cash back before they de-spac.

I was offered that with GRAM

What's this now?

 

[Preston]

Makes sense to buy now, if the sector is rocking before they de-spac, hold and if not redeem. No risk.

 

[CH1]

What's this now?

A SPAC is a blank cheque...and up until the SPAC cements the deal purchasing the target company with your $10, you can get it back.

Most SPACS trade >10 because of the anticipatory hype, but with the recent selloff and oversupply of SPACs (I'm surprised Preston doesn't have one)...many of them are trading pennies over $10

 

[CH1]

Makes sense to buy now, if the sector is rocking before they de-spac, hold and if not redeem. No risk.

the salient point I was attempting to make

 

[LeafOfFaith]

A SPAC is a blank cheque...and up until the SPAC cements the deal purchasing the target company with your $10, you can get it back.

Most SPACS trade >10 because of the anticipatory hype, but with the recent selloff and oversupply of SPACs (I'm surprised Preston doesn't have one)...many of them are trading pennies over $10

This is by law, that a SPAC has to refund $10 if they don't close a deal with a target company?

Is there a time limit? I can't imagine it's one target, but rather any target since they don't declare who they're targeting.

 

[CH1]

This is by law, that a SPAC has to refund $10 if they don't close a deal with a target company?

Is there a time limit? I can't imagine it's one target, but rather any target since they don't declare who they're targeting.

you can get out before the marriage.

after the deal, the SPAC changes name/symbol and trades on the merits of the acquired company

 

[CH1]

PS. DKNG was a wildly successful SPAC

DEAC was the SPAC name

 

[CH1]

I know a guy with a SPAC called PUCKU (they want to acquire a sports franchise)

/noposition

 

[Preston]

Wouldn't mind seeing a CERE dump today. That shit is cheap.

View attachment 8461

Not quite updated - this was when the SP was $10. But still cheap.

Posted this earlier so the numbers aren't quite up to date for the other companies. But... At $10 it's a buy imo. Full disclosure: I looked into them after this post and I don't buy their guidance for a second. It seems a bit optimistic. But they're the number 2 in Florida. In some other states too. Good spot to be in.

 

[Preston]

As a cash hoarder this is the kinda thing I should be looking at right now.


Thank you CH1!!!

 

[CH1]

Your initial post actually reminded me of CERE....a lot of this shit is getting lost in the March shuffle

Remember all the hype about VRNO? Yeah, me neither. May have double bottomed at $23 (after hitting 33 on it's first or second day)

Also GAGE will be coming out soon

 

[CH1]

As a cash hoarder this is the kinda thing I should be looking at right now.


Thank you CH1!!!

yeah...I was looking at my cash levels on Friday and figured why not take a nibble soon?

 

[Preston]

PS: I'm out on them but Jay Z at these levels is potentially a steal too, albeit there's a but more execution risk with them. Bigly upside though. Hard to find buyers on the NEO.

 

[Preston]

yeah...I was looking at my cash levels on Friday and figured why not take a nibble soon?

Yeah I think I'm a buyer at 10 for sure. I'd be fully positioned for upside and extreme downside (puts) across my two big accounts.

 

[CH1]

I'm holding GRAM warrants with the profits I got from the initial pop...always been a HR or K type of play for me

 

[Preston]

I'm holding GRAM warrants with the profits I got from the initial pop...always been a HR or K type of play for me

Their price action doesn't seem to reflect much reality for me. But they may not do much until they start executing their vision and their optimistic guidance comes to fruition. California is tough but I like their plan.

 

[CH1]

I like their plan as well...and they certainly are branding things very differently than the competition, who are all playing it quite safe/pharma/wellness style. As a branding guy, I'm IN!!!!

 

[CH1]

The GRAM warrants expire in January 2026...strike price is 11.50. I am ultra comfortable with both parameters...and it expiring worthless as they were paid for with earlier GRAM profits

 

[Preston]

I like their plan as well...and they certainly are branding things very differently than the competition, who are all playing it quite safe/pharma/wellness style. As a branding guy, I'm IN!!!!

I mean we could look back at this in ten years and wonder why we didn't figure out that the winner in California is the winner of weed long-term. Who knows. Definitely a potential home run play.