The SEC filing this morning said they had $7.65 billion left of the ATM to sell. Given the volume and the price before and after the dumping, it's possible they were able to sell at least $2+ billion worth of shares today, probably around the $425 price average range, or about 4.7 million shares. These selling agents are responsible for the selling. No doubt they'll have shorted with puts and then sold hundreds of thousands of shares and gained on the puts.
$7.65 billion - $2 billion = $5.65 billion so that means expect 3x-4x more of this type of rug pull to continue before the stock price can truly rise.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
- 1PC·2024-12-17[OMG] Did I buy while the Bankers are Selling down 👇 [OMG]LikeReport