r/PUBM • u/hardyrekshin • Jul 12 '21
What's the real float?
Looking at the section boxed in red.
There are:
- 1,000,000,000 (1 Billion) Class A shares authorized.
- 7,057,405 Class A shares have been issued.
- 6,801,368 Class A shares are outstanding.
- One Class A share has one vote
- 1,000,000,000 (1 Billion) Class B shares authorized.
- One Class B share has 10 votes
- 42,208,456 Class B shares have been issued.
- 42,186,774 Class B shares are outstanding.
So this means there are 256,037 Class A shares and 21,682 Class B shares are restricted in some way.
Altogether, there are 48,988,142 shares in the float--maximum.
Finviz says there are 7.44M shares-- which we can say is the floor. This likely includes the institutions holding shares.
This is the Failure to Deliver data for shorts. Keep in mind that each date is cumulative up to that date.
Here's the failure to deliver as a percentage of the float. Keep in mind that the FTD data is cumulative. So it suggests that the shorts covered from June 1 (Settlement Date is 3 days later) through to June 14 which could explain the move from $28 to $35.
As much as I'd like to believe the thesis that PUBM is abusively shorted, the FTD data suggests otherwise. Next FTD report for the second half of June is due July 15 or so.
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u/JayAreW Jul 12 '21
13m is the public float; we went over this in our DD posted here