Re: Message from Peter via Chris Chu
posted on
Jul 30, 2015 11:05AM
"The light just went on...Was yesterday considered end of the month for reporting?"
Assuming it is PNP selling, I was going to ask:
1) do they have some kind of covenant, or internal metric that says they have to get X sold, or X cash raised by 8/1? It could continue until the close of tomorrow. The last hour today will tell the tale.
2) since their balance sheet is continually at risk (hat tip: Black Adder "PNP death spiral"), wouldn't it behoove them to find someone in their rolodex to absorb some of their selling? For an institution like PNP to just dump into the close yesterday showed true desperation.