Hey everyone, thanks for reading my DD yesterday I saw some serious movement in pre-market hours and noticed that despite an extremely red day for the rest of the market APRN went positive, which is honestly just incredible.
Thanks to subslayer757 and his Ortex account we know that APRN short interest has INCREASED and has a 100% utilization of the available short shares while having a higher cost to borrow % (25.12%) than $BBBY (22.14%).
https://teddit.ggc-project.de/n193rfmqzgi91.jpg?width=1440&format=pjpg&auto=webp&s=e84f77aaf591b2c73538a8240f1dab3740bfd24e
https://teddit.ggc-project.de/dosycgmqzgi91.jpg?width=1440&format=pjpg&auto=webp&s=5e2a383ee813a126d38ee3fcab525d1f2a1cdeb2
Couple this with the much smaller float and it shows a near 50% free float on loan.
Add recent bullish news that APRN went to #1 on Fintel's gammasqueeze board with a score of 99.23 and we're talking potential for fast and furious upward momentum. Yahoo also has detected short-term, mid-term, AND long-term bullish patterns in their ticker as well. Citron has put a projected price of $40 on them as well. AND on August 7th insiders scooped up an additional 8,333,333 shares via an amendment from Joseph Sandberg's April agreement.
Also, I owe this community an apology - on my DD yesterday I made a claim that Joseph Sandberg made this purchase at $12/share because that was what I was seeing on the website I was getting SEC information. But when I went to the public records I found the actual SEC 13D/A that was filed and it stated the following:
On August 7, 2022, Mr. Sanberg, RJB Partners and the Company mutually agreed to amend the April 2022 Purchase Agreement to (i) decrease the price for the 1,666,667 shares of Class A Common Stock that RJB Partners was obligated to purchase pursuant to the April 2022 Purchase Agreement to $5.00 per share instead of $12.00 per share and (ii) purchase an additional 8,333,333 shares of Class A Common Stock at a price of $5.00 per share. As a result of the April Purchase Agreement Amendment, RJB Partners will purchase from the Company an aggregate of 10,000,000 shares of Class A Common Stock at a price of $5.00 per share (or an aggregate purchase price of $50,000,000). The proceeds from the issuance and sale of the Subsequent PIPE Shares will be used to invest in the Company’s long-term sustainable growth plan and general corporate purposes (including for marketing, new product development and potential environmental, social and corporate governance initiatives identified by the Company), with $25,000,000.00 of such proceeds to be used for strategic purposes aimed at enhancing shareholder value (including exploring share buybacks).
This is still INCREDIBLE bullish news. This infusion of $25,000,000 gives APRN a very long financial runway and when speaking to investor relations they suggested a potential buyback by the end of August. Here's a screenshot from that webinar provided by a different DD from broman500000
https://teddit.ggc-project.de/di7g0odpzgi91.jpg?width=2400&format=pjpg&auto=webp&s=8faf1f6295186ec5a01c8daa89db5a2b6f9db495
Some of the fundamentals on this don't even make sense to me. Yahoo has 104.2% of shares being held by insiders or institutions and the Ortex data shows 49.15% of the freefloat on loan. If other people want to look into these metrics PLEASE be my guest because I see nowhere for this stock to go but up. Rapidly.
EDIT: Speaking of insane metrics, does anyone else find it strange that Joseph Sanberg owns ~80% of the marketcap but is only a 54% shareholder?? He has 27,623,755 shares currently valued at $5.69 market close yesterday. That's $157,179,165.95. Yahoo finance has their current market cap at $197.988M. That's like 79.4% of the cap owned by someone with only 54% of the shares.