tulumpo

allocating capital to structural shifts. #bitcoin since 2015.

[tulumpo @tulumpo]

@MarcusBurelius they're not self-custodying.

it's at anchorage digital bank and fidelity digital assets, both disclosed in the s1. qualified custodians, not a hardware wallet in someone's desk!! thank god haha

[tulumpo @tulumpo]

$IOND day 3 closed above $70, so the june investors can legally sell for the first time. volume didn't move, which suggests they're not in a hurry.

and the creditor supply everyone feared still hasn't shown up. most of it is (likely) still stuck in transfer.

[tulumpo @tulumpo]

@aldaronhardware ok, pls check:

s-1/a, prospectus summary → recent developments → private placement

https://t.co/QsZ6ysx3d6

ctrl+f "$70.00"

covers four instruments: preferred, converted common, warrants, warrant shares. the 2% exemption is warrants only, next sentence

[tulumpo @tulumpo]

@IncomeSharks you're doing the backtest the old fashion way..

there's ways to test & code it with years of data (real data) // cc @multicharts

happy to help you verifying those claims with more data!

[tulumpo @tulumpo]

agree to disagree on that one!

institutions avoid pre-market. thin book, wide spreads, terrible fills.... Size goes through vwap algos in rth, dark pools, or the closing auction.

pre-market is where small and impatient trades. which fits someone whose drs transfer landed overnight after 4 years of waiting (understandably).

thin book also means it takes less size to move price, not more.

[tulumpo @tulumpo]

$IOND day 2 did something worth understanding.

opened $53.08, down 15% from yesterday's close. that was the transfer supply arriving. shares that finally landed in brokerage accounts overnight, sold at the open.

it got absorbed by 11am. New high $67.95.

that's the first real test this stock has passed.

[tulumpo @tulumpo]

@CelsiusFacts Set a reminder for this.

[tulumpo @tulumpo]

@ChazzonKe gotcha!

[tulumpo @tulumpo]

$IOND day one, and the chart is telling you something.

open $50.00 - low $50.00
it never traded below the open. not one share. nobody who bought today is underwater.

now sitting $61, holding near highs, 11% above vwap without fading.

and this is day 1 of the entire life of this stock.

[tulumpo @tulumpo]

right that most holders weren't ready. But two things:

1.39M traded vs 35M is ~4%, not 0.03%. off by 100x.

and DRS shares aren't "frozen." you just can't trade from a transfer agent, you have to move to a broker first. that's how DRS has always worked

timing depends on the receiving broker, not on Ionic.

[Ionic Digital @IonicDigital]

Ionic Digital is pleased to announce that its Common Stock is now trading on Nasdaq under the ticker $IOND

[tulumpo @tulumpo]

$IOND is trading.

opened around $53, now ~$50.

the +151% you're seeing is fake. it's calculated off a $20 reference price that never existed as a real trade.

limit orders only!! please don't chase price.

[tulumpo @tulumpo]

@Coinfera1 @plutustheory still pre market.

[tulumpo @tulumpo]

reminder before 10:10 ET on $IOND: quotes ≠ trades.

from 10:10 to ~10:20 you'll see wild indicative prices with zero executions behind them.

that's the cross building.The only number that matters is the opening print at ~10:20. set limits.

market orders into a direct listing open are how people get filled 40% away from where they wanted. stay safe.

[tulumpo @tulumpo]

@CelsiusFacts 🔥🔥🔥

[tulumpo @tulumpo]

$IOND still in pre-launch. second delay message, 10:31 and now 10:39.

this is normal. "All NASDAQ systems are fully operational" is in the message. nothing is broken.

direct listings open when price discovery settles, not on a clock. @coinbase, @SlackHQ and @Spotify all opened late too.

[tulumpo @tulumpo]

@plutustheory in about 10min we should all be able!

[tulumpo @tulumpo]

confirmed: @Nasdaq set the $IOND reference price at $53.00, same as the june institutional placement.

their own notice says it plainly: this is NOT an offering price and nobody has traded shares.the open gets decided by buy and sell orders in the auction. could print anywhere!!!

source: https://t.co/9bAne1r8Io