$MOTN > $DCGO (vote passed and co has 60% redemptions leaving 4M float) $MOTN > $DCGO

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Saw this floating around reddit and twitter not getting to much attention yet but seems legit. Below is from a twitter thread that seems interesting. Holding 100 shares as I feel this out in case it pops sooner… ticker change should be in the next couple of days…

tight float, favorable valuation, upcoming catalyst

1/ $MOTN DocGo vote passed and co had 60% redemptions leaving 4M float Few points: *Fast-growing, profitable health tech company (+100% y/y, ALL organic growth) that EXECUTES *Significantly beat guidance every quarter (68% increase)

2/ $MOTN DocGo *Very high employee satisfaction (4+ Glassdoor rating, which is rare in healthcare and a key advantage) *Low cost structure (leverages LPNs and EMTs) leading to higher margins and rapid customer acquisitions

3/ $MOTN DocGo *Recurring revenue (most contracts are with municipalities and big providers) + a lot of de novo space they’re starting to enter geographically *Scalable solution - industry-leading mobile medical services platform *Attractive valuation 9.5x EV/2021E Gross Profit

4/ $MOTN DocGo will be presenting at Credit Suisse virtual healthcare conference on Nov 8th @ 2:40pm which will be webcast on the co’s website. Deal close and ticker change should happen in next few days.

5/ $MOTN didn’t realize
@LeaderSpac
just did a great thread on DocGo.

https://twitter.com/spacanpanman/status/1456281739068903425

Can read here:

https://twitter.com/LeaderSpac/status/1455186712884301830

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Coming to market with a total equity value of $1.1B and only 11.5M tradeable shares in the SPAC trust !

(3/7) $MOTN “WOW that sounds like a really cool concept… but so did all my other SPACs that went to $5”… Well, let me give you a bit of a rebuttal here on that. How do these customers look to you, seem legit?
@NFL
@MLB
. State of California. State of New York…!

(5/7) $MOTN Alright, alright. I will… How does $260M projected revenues for 2021 (THIS YEAR) sound? A guidance raise of 68% since the SPAC deal. 4.23x revenue at a valuation of $1.1B…

(6/7) $MOTN And the icing on the cake… They just landed a deal with the VA on October 26th … yes that VA… a government contract with a blank check and a lot of soldiers who need medical care. This might be in projections, but it’s a BIG F’ING deal

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Up premarket and this was just filed. I think this merger moves quick, they are amending whatever conditions need to be met now that the vote passed.

Could use some help if anyone else is interested in this play.

https://www.sec.gov/Archives/edgar/data/1822359/000121390021056834/ea149877ex10-1_motionacq.htm

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Warrants trading around $3 already. More dd from Reddit:

MOTN → DCGO: Green Flags Everywhere

Date: 2021-11-04 23:53:56, Author: u/joeskunk, (Karma: 3746, Created:Dec-2007)

SubReddit: r/spacs, DD Click Here

PICTURES DETECTED: this DD post is better viewed in it’s original post

Tickers mentioned in this post:

CS 10.28 |MOTN 10.49 |

MOTN company has green flags everywhere…call an ambulance, but not for MOTN / DCGO

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The Company

MOTN is merging with DocGo / Ambulnz. They provide mobile medical services. This covers homebound treatment, public health emergencies, etc: “Unique solution set plugs seamlessly into existing care ecosystem.” They have a wide range of last mile solutions for a wide range of clients.

https://static1.squarespace.com/static/600f0be7776dc54b0ec90482/t/6169a1569d3e3a728d0fd31a/1634312534531/DocGo+Investor+Presentation+%2810.14.21%29+final+%281%29.pdf

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They just reported 3rd quarter financials and raised for 2021. They are out-performing what was indicated on their initial slides. Again - typical red flag is over-promising, under-delivering and a post-SPAC dump.

https://static1.squarespace.com/static/600f0be7776dc54b0ec90482/t/61699f572002d155f0ee4605/1634312023156/Motion+425%281%29+Q3.pdf

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The Valuation

Notice the comp to actual non-spac companies in the sector, and the absence of completely un-related or over-valued SPACs for the purposes of pushing a stretched valuation. Also notice the valuation is favorable based on ***2021*** numbers. Not waiting for 2030 to justify the valuation.

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The Float

Their float seems to be limited to ~4.6m shares. Basic maths at 60% redeemed:

11.5m float * .4 = 4.6m

https://www.stocktitan.net/news/MOTN/motion-acquisition-corp-and-doc-go-announce-shareholder-approval-of-7s5rllycet0d.html

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The Catalysts

Take your pick:

- Credit Suisse virtual healthcare conference on Nov 8th. I would expect favorable price targets to be issued rather soon that would also serve as a catalyst.

- PR from the merge

- Likely favorable PR issued by analysts

- Retail gets frothy whenever a partnership with a known brand is announced. This company has partners ranging from media, sports teams, gov, etc. Odds at they will continue to bang out contracts with high profile clients.

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The Warrants

Warrants are often a pretty good leading indicator of what folks think of the company in the long-term. Sometimes if there is a temporary spike, commons get heated alongside them. But absent a run like that, the valuations are pretty telling. Something coming into merge with warrants about 1 or less - look out below. Conversely if warrants are around 2-3, odds are a segment of the market views this as a serious potential disruptor. MOTN has not run yet, yet the warrants are trading ~3.

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Summary

As of late these types of trades have not only re-rated rather rapidly, but often overshoot fair valuation as the trade gets crowded. IMO, the r / r on this looks very favorable. Please check the post history before talking smack, there is a pretty consistent and lengthy record of spotting these trades early.

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Slides here:

https://static1.squarespace.com/static/600f0be7776dc54b0ec90482/t/6169a1569d3e3a728d0fd31a/1634312534531/DocGo+Investor+Presentation+%2810.14.21%29+final+%281%29.pdf

https://www.reddit.com/r/MillennialBets/comments/qn4hhd/motn_dcgo_green_flags_everywhere/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

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Bullish af…

sponsor is forfeiting the same percentage as redemptions that means 60% of 2.9. So the public float is only 2.2M now with 15% short interest.

https://twitter.com/varun_spy/status/1456642668956684296?s=21

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New summary article here, if anyone wants to help research this:

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Well I’m in with you.

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Right on, hopefully this helps improve your “about me” :slight_smile:

Since I can’t find much traction on this I’ve set a stop loss for mid $10s just in case

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UPDATE: Beginning 11/8 MOTN will trade under DCGO and DCGOW

LFG!!!

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This should start moving soon right?

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My understanding of these plays is a possibility of a drop upon ticker change and then a potential runup after. In this case with it being an outperforming company already, the thesis is you get in before because there may not be a drop. We’ll know Monday, all I know is my stop losses are set JIC.

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There’s the dip. So ig buy Monday then.

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My stop loss just hit a second ago, so I’m going to wait for Monday to reenter.

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Still waiting for Monday to see what happens. Looks like the support on an outperforming company was outweighed by the typical drop these SPAC plays see before the ticker change. Apparently there is a common institutional selloff that happens on Monday where this could go to $8s before it goes higher. This is new to me so please play at your own risk. I’m currently still out when my stop loss hit and will see how Monday goes.

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Another good thread on what might be going on…

https://twitter.com/peony_king/status/1456685681087066118?s=21

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Back in today off the ticker change and the conference presentation for 2:40pm. One analyst gave this a $16 pt, needs volume for this to run… (had some earlier today)

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President of DCGO, Anthony Capone is granting all employees 1,000 shares of stock by Jan. Estimating 2,000+ employees this could eat up another 2M of the float…!

@Conqueror you mind taking a sympathy look at this for me? Depending on how redemption goes (tomorrow?!) there’s potentially only 4.6M float left, and after this stock giveaway only 2.6M potentially left???

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I have a small position, currently holding a little (less) red (during this mornings run up), apparently has a bttx setup, is on ssr today, and not all brokers have the ticker available as of yesterday. If nothing happens I might exit by eow.

Volume currently picking up, possible combination of attention (that we need for this to run) and brokers having the new ticker available to trade… today might get exciting… (or not)

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slappin that ask today…