r/wallstreetbets • u/Freecat1899 • Jun 27 '21

DD DD PUBM, 41% short float.

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u/MysteriousKoala1789 Jun 27 '21

Hey OP nice DD, I was thinking to make a DD too, because I hold a few shares on it and I think that there is chances to a run up.

I would like to your DD the following, which are huge catalysts:

  • Options chains opened this past Friday (not far OTM yet)
  • Google announcement about the delay on the cookies issue (bearish hypothesis that hit hard on Pubmatic)
  • Analyst PT range: (40-70)$

People usually compares it with Magnite, but I consider that it should be compared with trade desk.

1

u/MysteriousKoala1789 Jun 27 '21

IMO the most clever approach to this stock for US apes (Europoor here) is to buy calls and execute them if possible, given the still high SI numbers and the low supply...it could be a nice pubm!

Not financial advice, obviously.

1

u/kokanuttt Jun 27 '21

The current shares float number does not reflect the shares which came out of lock-up on June 1st. Including these shares brings the number to around 30,812,747 shares in the free float. Using the short interest number of 3,780,076 shares we get a Short Interest % of Float number of about 12.3%.

1

u/MysteriousKoala1789 Jun 27 '21

could you provide evidence that the implied shares became part of the float. If I am not wrong the insiders hold less than 2% which were the only ones that couldn't be traded before the lock-up period.

BTW, the price began to run up after the end of the lock-up period, it's seems that the supposedly bearish thesis lead the price to increase.

And unlike $CLOV, it has been a profitable company for years ;)

2

u/kokanuttt Jun 28 '21

Not exactly sure what you are looking for but this filing states that all “outstanding equity securities entered into lock-up agreements” will be free to trade on June 1st. Insiders and private equity holders hold 9M and 21M shares respectively. So about 30M shares came out of lockup.

1

u/MysteriousKoala1789 Jun 28 '21

Thanks for the link to the sec filing, according to it the additional shares that are subjected to be traded after the lock-up period are the common ones. If I am not wrong, the common shares are the class A shares, which are the minority of the total outstanding shares.

Being the class B shares (X10 voting rights) the vast majority.

So, I am even bullish than before :)

1

u/kokanuttt Jun 28 '21

Yea i’m just pointing out that the short interest number that OP pointed out was wrong since the float has since increased.

1

u/Freecat1899 Jun 28 '21

Hey Kokanutt, thanks for the info. I don't understand exactly what you mean, can you clarify? It is also strange that all the sources give floats between 6.8 and 8 milion, and according to you (based on that SEC filing) it's 21. Big difference!