I will start by mentioning the most recent news, which I really love: https://www.stocktitan.net/news/SST/system1-strengthens-capital-structure-and-reduces-total-debt-through-uuofkvjndiqf.html
This moment saved the company and helped them turn around the entire business, they manage to cut in half the debt by offering the possibility of lenders buying stock at 10.4$.
This is the the disconnect comes, we are sitting at 3$ range, on short interest of aprox 28% compared to trading float (not all shares, the ones tradable) and borrow rate fee of 300-500%
What does it mean? 1% or short value is lost each day!!
Business model changed a lot as they are moving away from Google, meaning cutting the fat of high revenue, low profitabilit, shifting to less revenue, more margin with their AI tool.
Now you might ask, what do they own? I won’t e en mention all the apps, but key one: MapQuest!!
NFA, GL and do your own DD.
Rocket, Rocket, Rocket
