Jul. 2 at 2:40 PM
$SONM Well, Qumulus is out.
A few things I want to point out: the new preferred shares come in at
$6/share, and someone is willing to put fresh capital into the company at that PPS. I also believe this solves the shareholder equity issue.
Wish I had better news and champagne, but that’s on hold for now.
I’m not panicking, but I understand why some people may want to sell today. My view has shifted from a potential home run to a solid double. The upside is lower than I previously thought, but a lot of risk has been removed.
I’ve made good money on crypto pivots this year, so I’m comfortable holding this one. Sure, an AI pivot would’ve made us all smile.
Hope everyone has a great long weekend.