The primary argument for Irenโs $6B dilution was:
โTrust in $IREN management with managing dilution.โ
If you look at the actual history of IREN management with:
$BKKT and $ASST.
Both companies have completely obliterated shareholder value from
ATM dilution.
Dropping all original retail share value down by 98-99%.
Companies like Bakkt have been doing okay.
But both stock based compensation to executives + dilution wiped out all equity value from retail.
If a company files for $6 Billion in ATM dilution, you should expect them to use it and position accordingly.
Maybe $IREN turns out differently.
But saying โTrust in Managementโ then looking at the track record of management of hype retail stocks -> ATM dilution wiping out all value has happened multiple times.
The company will likely end up fine donโt conflate that with the performance of your shares.
I care the most about retail shareholders over corporate executives, which is why Iโm sharing the red flag about $IREN $6B ATM.
@_JasonLT Also Julius is reverting back to the player we knew before this year. His lack of focus and effort the past couple games is weird to see after showing an amazing version of himself to start the playoffs.
@BBallBroseidon@trevorlane That was the wordt play to watch at the end there.
We had a pretty good game plan thereโฆ. If he switches on to Melo, double or instantly send DFS to switch w Luka but of course we sold ๐คฆโโ๏ธ๐คฆโโ๏ธ๐คฆโโ๏ธ