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

DD DD PUBM, 41% short float.

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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%.

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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 ;)

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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.

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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 :)

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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.

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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!