· 个股论点
涉及标的： $FLNC
$FLNC 的 2000 万股发行，如果你想知道为什么它在跌。 这 2000 万股并不算稀释，而是锁定解锁 + 转移，所以只是换手。 真正的问题是条款会让 117,666,665 股里剩余大约 9700 万股的 shelf-registered resale capacity 继续打开，据我所知。 这对短期交易是明显的负面，而且影响很大，因为它扩大了流通盘，也带来了短期卖压。 这就是 overhang…… 我在看到这个意外消息后，确实降低了仓位，因为它改变了我对这个交易的判断。 不过我还是留了一点，想看看后面 hyperscaler deals 会把它带到哪。 我不是在告诉大家该怎么做，只是在呈现公司管理层制造出来的新 overhang。
$FLNC 20M share offering if you’re wondering why it’s trading down. The 20M share is not dilution, but share unlock + transfer. So change of hands. The biggest problem was the clause that made active shelf-registered resale capacity of the 117,666,665 shares, so there’s an unlock of the other remaining ~97m shares to my knowledge. Net negative and very material to short term trade ideas. Since it expands the float and it introduces short term selling pressure. That’s the overhang… I personally cut concentration on the surprising news since it’s changes my trade idea with the float structure. But holding some anyway to see where it heads after hyperscaler deals. Definitely not telling people what to do, presenting new material overhang created by company management.