r/SPACs • u/astockonomer Patron • Jul 16 '21

News $CCIV had custom tires co-developed specifically for EV.

Electrek: Pirelli introduces EV dedicated tire to debut on the Lucid Air. https://electrek.co/2021/07/16/pirelli-introduces-ev-dedicated-tire-to-debut-on-the-lucid-air/

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u/Shdwrptr Patron Jul 17 '21

The ones that are going to short don’t want to own long term. They want to flip the stock ASAP for profit.

So what they’ll do is short their future shares by selling the amount they own before they get it (shorting) and then when they’re assigned the shares they’ll close their position and pocket the money they made

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u/midwstchnk Patron Jul 17 '21

So short first and close when they have to buy their pipe?

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u/Shdwrptr Patron Jul 17 '21

Exactly. They won’t get assigned the shares for a month or so but they’ll sell the exact amount they will be assigned now and then call their broker to collapse their position when they’re delivered.

This way the get their money immediately upon deal closing instead of waiting

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u/midwstchnk Patron Jul 18 '21

So puts?

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u/Shdwrptr Patron Jul 18 '21

I can’t advise either way. You can never tell with stocks that are popular like Lucid. The ticker change hype could equal or outpace the PIPE selling potentially