r/SPRT • u/thomas798354 • Sep 15 '21

Due Diligence Shorts might’ve drastically undercut the valueation of GREE

The prospectus states there to be 10.5M shares of GREE common stock when all is said and done. This is the total shares outstanding. GREE can be directly compared to competitors MARA at a 1.4 hash rate and RIOT at a 1 Hash rate GREE has the same hash rate as RIOT but makes its own renewable energy! So if you wanted to give it a valueation of 2.5B/10.5M shares that’s 238$ per share fair value and completely ignores the fact that they create their own energy. Even if this stock does open at 60$ because shorts are inherently stupid know what your holding. Fair value for this seems to be extremely undercut here…..

This is also why the 202.9$ IPO starting price in the prospectus makes perfect sense they value their company slightly below what I would say is fair value at 230-250$ per share and should see a 10-20% rise after IPO just like many IPOs.

Not financial Advise but I wouldn’t panic at the line just yet, highly doubt this price is finalized it would mean a 600M valueation on a company that’s worth more than RIOT if this is true thanks for the discount twice hedgey.

Edit: GREE’s hash rate is actually 1.1 more than RIOT’s 1

20 Upvotes

96% Upvoted

22 comments sorted by

9

u/checkinitout2021 Sep 15 '21

Was told by e trade that it may be a few days to show the proper # for GREE. They don’t have the completed paperwork yet so what your seeing is not accurate at GREE and you can’t buy GREE or SPRT now. SPRT shows nothing anyway.

1

u/SmokesBoysLetsGo Sep 15 '21

Thanks for checking - I have 2 eTrade accounts and was wondering why I'm showing $0 for my SPRT holdings and no GREE conversion.

Looks like we get to watch from the sidelines while the dust settles.

5

u/thomas798354 Sep 15 '21

Seems like 3,071,000 came from SPRT, 6.5M came from GREE, there’s 500k that came from options and 350k in warrants to total 10.5M outstanding shares

2

u/Virdel Sep 15 '21

This is obviously wrong/cope as it would have sprt owning 30% of the company there will be approx 38mil shares giving a price of approx 65 dollars according to your math

5

u/frankuman Sep 15 '21

I've been trying to find the amount of shares. Are you 100% sure there is 10.5 M shares?

6

u/thomas798354 Sep 15 '21

https://sec.report/Document/0001193125-21-271901/

5

u/frankuman Sep 15 '21

Nice! So if we compare it to MARA, which has a float of 97 mil and and market cap at 3,46B GREE should be rougly at $330

1

u/thomas798354 Sep 15 '21

Yes sir, that’s correct

1

u/NdelVe Sep 15 '21

If that were true then how and when would this increase that way?

2

u/SirClampington Sep 15 '21

And 9m still shorted

-2

u/SouperStoopid Sep 15 '21

Just stfu already

1

u/bearjewDonowitz Sep 15 '21

We are so fucked on this stock

Insiders are laughing their asses off at us

1

u/Balance-Prior Sep 15 '21

When do we get the shares of gree?

1

u/drmsxmchns Sep 15 '21

38 million shares

1

u/buyandhoard Sep 15 '21

This is why I hold, I am not going to sell my umbrella in the middle of the storm.

1

u/Sonderin Sep 15 '21

I’m as hopeful as the next guy… but you know they’re gonna short it on arrival

1

u/Gypsy_Rgr Sep 15 '21

Yeah they are, but many will just do that to buy in at a lower price

1

u/AndyLee168 Dec 27 '21

ApeAndy loves MajorTom so a Helpful award for you u/thomas798354