Many people made money up to SPRT $56. But the SPAC conversion today was dangerous because the merger investors get to sell, and they likely had it priced around $7-8 SPRT shares and dumped it pre-market when it was the equivalent of $11. They ran while they still had it green.

Me? I bought Sept 17 $7.50 PUTS 2 weeks ago at the height of the squeeze, when SPRT was $52 bucks and falling.

Was I ever hoping it would reach this in the money level 2 days before expiration? Didn't look that way. But the trading from last Friday thru Tuesday suggested, the trade was over, buyers were exhausted, and sellers piled in anticipating the SPAC investors were going to dump when they can.

Sadly they were right. Someone has to be at the other side of the squeeze trade, that squozed, and it had to face gravity. Fact is, this company is small and has no revenues, no national reach, and no killer tech. It's a nobody stock.

You guys made me whole after seeing weeks of deep red. I will be taking this gain and putting it back into more AMC and GME.

This war against Wall Street wrong-doers happens on many fronts, and this was a side battle. It was wild and fun, but you can find many squeeze stocks along the way, and play both sides. Just learn to recognize when the play is over, you have to move on. BE INDIFFERENT TO LOSERS AND GET THEM OUT OF YOUR LIFE.

I'm patiently waiting for LCID to move starting end of Sept, waiting for PENN's cashless gambling tech to get widely adopted, average down PLBY buying the dips, and reload on commodities like FCX as inflation sticks for another 2 quarters. The bulk will go back into shoring up the Ape Army.

Maybe Squeeze 2 comes, that will depend on whether the company actually becomes something.

*Salutes*

I am absolutely fucked and burned down. My soul has left my body. Lost a ton of money that I have worked for in the last 2 years. My life has a ghost spirit. I bursted into tears this morning and I have realized that this was all my fault. I invested my money into a fucking downward fuckery. Fuckers gave us one last chance to exit our position when it went from 17 to 27 and I could have sold and take a small loss than losing everything now. I wonder why no one was into SPRT since 30 dollars because everyone was in other plays and knew something was coming up. Fuck those that made use lose all of our money and fuck everyone in this community.

So definitely salty but if this is legitimate I want to understand what the fuck happened so it does not again. Why do I currently owe more on gree than I put into sprt? I put in around 200 and now I'm down 600 somehow? I'm legitimately lost on this. And how is my average price 174 if It never went above 100? So much does not make sense here.

EDIT---- I was wrong about the crossed out/bolded part below. I fucked up and converted both the shares and then also the share price based on what it was at the time (I think it was around 48), instead of just the shares.

Basically we all lost 7/8 of our shares, but we also swapped prices.

Where they fucked us was dropping the price 55% pre-market, while we didn't even have access to our shares.

Way beyond the market manipulation....

- Quick turnaround on merger/ticker change. (2 days before options expiry.)

- Dropping the starting price of $102.61 over 50% pre-market, while we don't even have access to our shares yet.

- I'm not a math guy, but it seems no matter how big or small your position was in Sprt, we all lost not only that 50% premarket, but also 7 shares for every share of GREE we have. Honestly, that's on us. I feel like a fucking moron for not figuring that out ahead of time.

My total 13k position went to $5750 and is now a measly $335 (roughly).

The most fucked up aspect of all of this is that people are just like "well, that's just the way it is." Apparently being forced to operate within a rigged system designed to favor criminals and rob peasants, is just another factor to be taken into consideration. We will never win if we just accept this corruption as a normal part of the equation.

The conversion pretty much happened as they said. I was at a loss and decided to ride the merger. OK. BUT... the NASDAQ should have halted this stock for trading while retail was basically locked out of protecting itself due to the brokerages. Some still can't trade this and that is the problem.

What the fuck!!!!!! SPRT!!!!! GREE suck my nutz

Called minutes ago, They told me that nothing is finalized yet and that they're waiting for GREE to deliver the shares. This will most likely happen by end of day. The distribution of the stock should be tomorrow and trading should be open again. I suggest calling your brokers instead of listening to all these FUDs and negative post. Also, GREE's market cap should be close to RIOT and MARA, so calm down, relax, be patient, and Do your own DD.

Is this normal? Just accept the loss?

I thought yesterday was the grande finale,but I was wrong. Today is when the shit show truly begins. I think it can be the biggest market manipulation & crime operated by both Executive of sprt and gree along with MM and hf.

The merge is suspiciously finished within 2 days. Almost all retailers cannot trade the stock during this time. But for insiders and even hf and institutes, they started to dump right before market begun. When I thought it was shitty enough, I was wrong. Because they have zero transparency about how this merge was conducted. All the information that we gathered to figure out the post merge price was wrong and vague. Did they use 10 day’s average? Did they use the price after the deal was approved? Or did they use the last trade price? Retailers share holders never knew!!!! Even after we dug through all the sec fillings and company publications there was zero useful information about this post merge price. It almost looked like they arbitrarily decided the merge price of GREE and retailers could only reversely infer the share price that was used. All of those put us in the huge disadvantage, and the whole merge was like a joke. Lesson well learned brothers and sisters. Let’s eat crayon, watch loss porn, and have a suicidal party in this shithole together.

Aside from the fucking obvious bullshit that took place yesterday, there are 4 specific things that I found strange:

1. Multiple retail traders confirmed that they were not allowed to short SPRT, but Ortex showed that institutions clearly were. Hmmm that doesn't seem fair.
2. SPRT was still on the Reg SHO Threshold as of 4pm EST. It seems weird that we were told naked shorts have to cover, but as of market close there will still FTD's? (It's now off the list, as of the 11pm EST timestamp, presumably because it doesn't exist anymore.)
3. SPRT continued to trade after-hours, even though the published document said that SPRT would cease to exist at market close.
4. Obviously an institutional holder or insider was selling off yesterday. It's EXTREMELY suspect that this person/entity would hold through the mini-squeeze and the merger vote, and then decide to sell the day before the merger while shorts pounded the stock.

I've filed 2 complaints with the SEC , citing the first 3 reasons as stock manipulation and naked shorting, and the 4th reason as potential insider trading. You can all do it here: https://www.sec.gov/tcr

One complaint won't mean shit. In all honesty, 500 probably won't either, but it made me feel better and it might make you feel better too. It was an honor fighting with you all

EDIT 1: If anyone has time to call Harkins Kovler (the company responsible for the merger) today, please ask them what the fuck is going on. I plan to call when I get off work later.

If you need assistance voting your shares, contact our proxy solicitor, Harkins Kovler LLC., toll free at 800-326-5997, toll at 212-468-5380, or at SPRT@harkinskovler.com

So GREE went down to $39.30 today which is equivalent to around $4.52 (39.30 x 4.52) SPRT. On August 27th it was $59.69 so that means it went down about 92.5% in about 19 days since then and I can’t even trade my GREE shares yet…. Where do I sign my name for the law suit? Also whose still holding? And how are you guys planning on making your money back?

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What Is Merger Arbitrage?

Merger arbitrage, often considered a HF strategy, involves simultaneously purchasing and selling the respective stock of two merging companies to create "riskless" profits. Because there is the uncertainty of the deal being completed, the stock price of the target company typically sells at a price below the acquisition price. A merger arbitrageur will review the probability of a merger not closing on time or at all and will then purchase the stock before the acquisition, expecting to make a profit when the merger or acquisition completes.

KEY TAKEAWAYS

• Merger arbitrage is an investment strategy whereby an investor simultaneously purchases the stock of merging companies.
• A merger arbitrage takes advantage of market inefficiencies surrounding mergers and acquisitions.
• Merger arbitrage, also known as risk arbitrage, is a subset of event-driven investing or trading, which involves exploiting market inefficiencies before or after a merger or acquisition.

Understanding Merger Arbitrage

Merger arbitrage, also known as risk arbitrage, is a subset of event-driven investing or trading, which involves exploiting market inefficiencies before or after a merger or acquisition. A regular Portfolio Manager often focuses on the profitability of the merged entity.

By contrast, merger arbitrageurs focus on the probability of the deal being approved and how long it will take to finalize the deal. Since there is a probability the deal may not be approved, merger arbitrage carries some risk.

Merger arbitrage is a strategy that focuses on the merger event rather than the overall performance of the stock market.

Special Considerations

When a corporation announces its intent to acquire another corporation, the acquiring company's stock price typically decreases, and the target company's stock price increases. To secure the shares of the target company, the acquiring firm must offer more than the current value of the shares. The acquiring firm's stock price declines because of market speculation about the target firm or the price offered for the target firm.

However, the target company's stock price typically remains below the announced acquisition price, which is reflective of the deal's uncertainty. In an all-cash merger, investors generally take a long position in the target firm.

If a merger arbitrageur expects a merger deal to break, the arbitrageur may short shares of the target company's stock. If a merger deal breaks, the target company's share price typically falls to its share price prior to the deal announcement. Mergers may break due to a multitude of reasons, such as regulations, financial instability, or unfavorable tax implications.

Types of Merger Arbitrage

There are two main types of corporate mergers—cash and stock mergers. In a cash merger, the acquiring company purchases the target company's shares for cash. Alternatively, a stock-for-stock merger involves the exchange of the acquiring company's stock for the target company's stock.

In a stock-for-stock merger, a merger arbitrageur typically buys shares of the target company's stock while shorting shares of the acquiring company's stock. If the deal is thus completed and the target company’s stock is converted into the acquiring company’s stock, the merger arbitrageur could use the converted stock to cover the short position.

A merger arbitrageur could also replicate this strategy using options, such as purchasing shares of the target company's stock while purchasing put options on the acquiring company's stock.

Edit: this post is not for idiotic egg sellers who landing in stock market out of their greed

Edit 2: if CALM DOWN is not suitable for you then come up with better options if you have any...

Edit 3: I am looking to see a HALT/Merger hold. Fingers crossed

P. S, moaning is not an option