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Anyone who bought $blnk today without reading the 424 should understand *exactly* what they're buying.
Firstly, this business has annual revenue of ~$5m, and lost nearly $4m in Q3, which left them roughly 12 months of liquidity prior to the raise.
Firstly, this business has annual revenue of ~$5m, and lost nearly $4m in Q3, which left them roughly 12 months of liquidity prior to the raise.
Secondly, you are going to get diluted either now or in the future. This $blnk raise is a 15% dilution, excluding another 12.5% dilution in warrants. At today's closing price of 44.90, that equates to $38.17 or less.
Thirdly, as a shareholder, you have little influence over this company and it's CEO Michael Farkas. And why does that matter for $blnk?
Maybe because the $blnk CEO has been and is currently heavily involved in litigation. The graph below from @PlainSite clearly shows the type of CEO you're investing in.
And lastly, the price action today at market open was likely the result of the below disclosure. Don't think your brilliance in stock picking was the cause of the ramp today. This was Barclays working to protect the share price and raise as much capital as possible for $blnk
This 930 ramp was a dinner bell for algos to buy, and buy they did. Good luck holding this garbage-co for any sort of time period and expecting shareholder value.
$blnk
$blnk
