Leo DiCaprio joined their strategic advisory board a few days ago. Not saying this is a positive or negative for share price just saw it in the news so I’m putting it here.
This thesis is based on the dump of some decent portion of the $19.5M PIPE shares on the current $4M float. Not sure if I share Platypus’ enthusiasm though.
NRGV (technically the SPAC NXU) started out with a $100M PIPE. Then:
Allowing NRGV to hit market with a much beefier $200M PIPE.
Now, this is not to say that these are signs of confidence in the company. These are stills speculative investments, and could also involve funny business by the investing companies.
However, given that the PIPE additions happened very recently, I don’t see why they would dump now. And I’d be surprised if they would have done so without coordinating with the other PIPE holders.
To be clear, this could still dump because of negative sentiment, non-existent actual revenue, and even a BS product. Just noting that the PIPE unlock might not be the trigger though.
Swiss here, originally I kinda was seducted by the idea (we love storing water in our mountains) and didn’t know they went public. Last summer I saw their prototype and was quite impressed.