Furu twits are having a meltdown on “X” right now… for anyone who was holding, this short report seems to have more credibility than typically found. I’m driving on my way to some needed time off but will try to relay any updates but for now the play is “over” imo. Too much fuckery to bank on doe catalyst imo.
“We are 100% confident that the backlog is fake. In the past, we exposed International Electric Power, LLC (“IEP”), a dubious counterparty that signed a 1 GWh contract. Ultimately, EOS had to provide financial assistance to facilitate the IEP purchase of a significantly scaled-down order.”
LMAO, get wrecked, us
For those who averaged down and maybe be green or break even please gtfo of this until it settles. The play here is more of a gamble given we’re less than 5 hours post short report news.
Sorry. Not “more of a gamble”… is a gamble ***
8k this morning https://investors.eose.com/node/10011/html
First take: RSUs granted based on this “milestone event” sound bullish but it also gives me more pause that they’ll dilute any chance they get on this anticipated pop off DOE.
Now about yesterday, I’m still out of this play for now but be extremely careful with entries as we can easily see low 2s again. Earnings is also less than 2 weeks out and could see a lot more volatility.
Quick update on this pop (still on vaca): we had insider buying from the ceo and cfo. You also had the head of the doe loan department like or reshare a post by the ceo on LinkedIn.
I may look for an entry after this profiting taking but not in front of a comp so probably will just put in some super low bids and see what happens.
whoever is still in this, please take profit or at least cover your cost basis, don’t let this run dupe you…
I want to look away from this play (don’t want to over play it) but then you see shit like this: Eos is in a pro Biden ad (paid by Climate Power)… <:pepeseduction:899174836583153706>
be prepared to see this slowly bleed and close below $2.50 to try and “maximize pain”… I’m looking to scrape the bid before the weekend (yes you read that right, I may reenter… MAY…)
I believe the aftermarket spike is due to the appendix a “required disclosure” per DOE guidelines. One reading between the lines would infer they are trying to stay complaint in anticipation of them being awarded said loan. Additionally they terminated the SEPA which could be seen as bullish due to not needing it in the future effective immediately. They did however increase their at the market offering program, from $100,000,000 to $200,000,000 in a disclosure after close as well. Again you can say this is bullish as they can release more shares on the spike (if I’m reading that correctly). Bear side is more dilution in the short term but any company serious about growth should absolutely take advantage of any pump potentially happening. I’m not back in this but looking interesting again for sure.
Word of caution for anyone still holding (or holding options), would be in your best interest to take profit if you haven’t yet… 13M volume yesterday and 10M volume today premarket and could arguably say that short interest of 28% and 31M shares short is already 2/3 covered at this point, with the rest likely covering today. Don’t let the euphoria of “squeezes” on twitter play into this. They got the loan, that was the play, and it popped. Time to move onto the next one <:cheers:848949090771009536> and congrats to everyone who played this over the months. It was quite the ride!
The reason I got back in today with ten $5Cs for 11/17 @ .05 is because of the looming “dilution is over” catalyst that the battery gang is constantly waiting for. This is a gamble because who knows how long dilution can continue, but at $2.23 I am willing to wager $50 that they won’t keep driving this down sub $2 for the next 60 days (baseless assumption, but seems logical). I’m betting they either “cool off” on diluting at some point in the next month to let the stock recover, or we see a filing that the at-the-money is exhausted. We shall see but got a little skin back in this “new play”…
$300M mixed shelf offering filed AH.
EDIT: Seems like it was just a filing of an old shelf? Correct me if I am wrong (again).
thanks for the callout on this, exactly why you have to be careful with these pre-rev small caps. I think the shelf was already here and this is the registration statement and possibly there is also a secondary offering mixed into this. Either way it means Wood River (WR) can dump their shares on the market anything above $1.10 if I’m reading this correctly. So naturally, your seeing this ticker run now <:chaum:909923850064646194>. I would suspect WR sells into the “news” on/just before/or slightly after the 12/12 company update if we wanted to see ultimate fuckery take place in the short term. (still no positions again on this yet)
Missed the dip below $1 yesterday during the strategic outlook call. It has been running ever since. However, the company have just announced a $40 million public offering in AH: https://investors.eose.com/news-releases/news-release-details/eos-energy-announces-launch-proposed-40m-public-offering Currently down 20% AH.
However, I think they had some interesting things to say yesterday and it seems conviction has returned amongst some of the FURUs on Twitter. Perhaps this offering could lead to a decent entry point once it settles.