Mar. 13 at 5:33 PM
$PAR is getting hammered with a 12.7% drop today, down 29% over 5 days
That
$250M convertible note deal is really putting the squeeze on the stock
This kind of dilutive financing is rough, keeping the selling pressure high
Not the time to be a hero and buy the dip, too risky
Deal closing around March 17 could mean more overhang
Underwriters and convert-arb folks might keep the pressure on, so waiting for signs of stabilization is smart
Saw a 1,950x April 17
$20 call block traded today, unusual size but probably a hedge, not a bullish signal
Don’t let it fool you, given the negative backdrop here
Stay cautious
