Reddit Posts
IRNT DD - LGL Group may hold IRNT stock and warrants
$IRNT - IronNet Cyber Security - an actual gamma squeeze candidate?
$IRNT - IronNet Cyber Security, potentially extraordinary market dynamics at play, the hole in the liquidity rulebook, the mother of all gamma squeezes (MOAGS)
$IRNT - IronNet Cyber Security - an actual gamma squeeze candidate?
$IRNT - IronNet Cyber Security, potentially extraordinary market dynamics at play, the hole in the liquidity rulebook
$dfns 93% of shares redeemed! $DFNS Just wow! It will most likely have a huge run like BLUW and HLBZ 🔥🚀💚
A Diamond in the Rough: $DFNS - A Sub-NAV SPAC with a Definitive Merger Agreement
Serious DD: A Diamond in the Rough (NYSE:DFNS)
Mentions
wtf DFNS… regret I didn’t buy at open
hopping on the DFNS train https://preview.redd.it/qmwcdle5tyfh1.jpeg?width=595&format=pjpg&auto=webp&s=843c874d96235c8774da69563d660a01b5468d79
I think the floats small enough that it can see a resurgence especially on market open. These setups are pretty rare and you could be right but DFNS was known to be a really bad diluter and I think it could squeeze again today
DFNS may be ready to double at least. Great short squeeze setup
$DFNS - Moonshot straight to 40-50 within days it seems...
DFNS and AGPU were pretty good plays for today, now eyeing SKYQ for oil catalyst again and reversal
DFNS TO $10 per share
DFNS...if it can hold above 6.00 and volume maintains....lookout BIYA....hold above 1.50 with volume
[Looking at August redemptions.](https://www.reddit.com/r/SPACs/comments/pkw978/spac_redemption_rate_in_august/) DFNS had 17.25M class A shares. 15.93M were redeemed = 92.3% redemptions. SPNV had 40.25M class A shares. 36.86M were redeemed = 91.6% redemptions. NSH had 23M class A shares. 21.02M were redeemed = 91.4% redemptions. FUSE had 35M class A shares. 25.89M were redeemed... yeah that's 74% redemptions not 97% unless we are suddenly going to change the way we calculate redemptions just to get a nice figure for ML. There is nothing in the [initial S-1 IPO registration](https://docoh.com/filing/1807846/0001213900-20-014419/FUSE-S1) for FUSE to suggest any of the class A common stock is subject to lock-up. There's no way redemptions are 97% and/or the free float is under 1 million shares.
We'll probably get downvoted but I agree. Not recommending anyone buy in, but just saying I agree. The only other deSPACs that had less than 1 million in its float are below, EFTR (went to $40.42, now at $18.89) AGIL (went to $36.13, now at $13.44 even after PIPE went effective) HLBZ (went to $41.88, now at $24.40) I think r/SPACs is just overall quite risk averse and too accustomed to things dumping to get in on plays like these. I was previously of that mindset as well, and that's why when things would go up 20%+ AH, I'm like OK well there's no point now. But seeing all of these low-float deSPACs absolutely crush it and still be as high as they are, I'm trying to change. This is coming from someone that might have been the [first to predict the DFNS (IRNT) squeeze](https://www.reddit.com/r/SPACs/comments/pb5z8g/comment/habuc3u/?utm_source=share&utm_medium=web2x&context=3) and then happily sold at $14, only to see it go much much higher.
I’ve been in since DFNS. And also partook in calling this. Great you got traction and assisted in the pump. Also great that you are now stepping out of it saying it’s over. I’ve banked here greatly due to my DD but like I said you traction spreading the word helped as well. However ultimately your thesis was wrong, so don’t go at others who claim it’s not over. It’s laughable when your call ultimately was incorrect.
i did that with DFNS to IRNT. oh how i wish i didn’t
I saw IRNT on Stocktwits when it was called DFNS, pre merger, and put it in my watch list at $10, then forgot about it until it hit $30. I'm good at this game. So many tickers get hyped up, it's not an easy answer to say which will explode, sorry to tell ya
No, that is simple thinking. The price is easier to manipulate in AH and they release bot accounts on internet forums at the same time. I've been in since it was DFNS and it's hysterical seeing bear accounts spread FUD.
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: DFNS LGL. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
I am a bot. You submitted a picture of a banned ticker, DFNS. This check will fire if you included unnecessary pictures that have bad phrases or a bad crop with news about cryptocoins, for example. Repost with the useless pictures omitted if you did that. Yell at /u/zjz if it's above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
Just checked IRNT/DFNS $10 calls.. I bought them at $.85, sold them at $1.35. Currently going for $36. I’m sure some of us would’ve had some insane profits had we held. Hindsight is 20/20.
I need a support group for those of us who sold IRNT under $15 back when it was DFNS
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: DFNS. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: DFNS. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: DFNS. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: DFNS. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: DFNS. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: DFNS. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
Lol this is garbage insight.. this is just the shares being converted from DFNS pre merger to IRNT
It was DFNS. One of the SPAC investors is a retired general & the CEO is an ex NSA director. Super volatile right now, but I think IRNT could be like PLTR - good longterm holding since cyber attacks aren’t going away.
It used to be another ticker called DFNS but it split. That's why this odd situation exists. NVDA had the same thing happen when it had its split. Different situation but similar effect on the adjusted options pricing.
Data i watched friday shorts have large hedge positions at $30, $44/$45. If it's sent above that, the cascade effect upwards could be quite exciting. I've been in since august when it was DFNS. Guess i was one of the few that didn't redeem my shares..
not all are crap though. offerpad was a decent target. rokley photonics also good. IRNT/DFNS cybersecurity is a sexy space.
It's not that they're entirely dissimilar, but SOAC is much, much larger than DFNS (IRNT) & with a bit fewer redemptions. That much larger float absolutely matters in terms of the simple ease with which to push it higher. LWAC (EFTR) too, much smaller, SOAC is > 2x its' SPAC size. BLUW too, much smaller, SOAC is > 6x its' size so that one pushed higher without a gamma squeeze, but from people piling into it because the float went micro. So I could be wrong, but I just dont see this exploding higher like IRNT or EFTR, as I believe a crucial aspect of this monkey-business is the fact that thus far, all the SPACs this has worked with have been rather small..
You shouldnt be wrong though. This is just a self-fulfilling prophecy with people jumping in not understanding that just because a SPAC has high redemptions doesnt mean it should squeeze higher. SOAC is not the same as LWAC or BLUW or DFNS, etc...
SOAC is mooning hard right now. Seems like next DFNS / IRNT to me
thats alright been in IRNT since DFNS early august riding on freebies
Shares short count is around 700k shares inherited rom DFNS spac to IRNT post-merger last I checked.
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: IRNT DFNS. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: IRNT DFNS IRNT. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
Not all deSPACs that climb are p&d’s. Almost all were pegged at NAV or below for months. A few will actually perform OK. I feel like the fundamentals behind SKIN are sketchier than IRNT yet it has mooned. Sales of 100M with a valuation of 3.7B. Yet no one mentions that as being lofty. Both DFNS and GNPK had reasonable valuations before the merge. Unlike JOBY and a bunch of other junk. Time will certainly tell and I won’t exactly be shocked if it sells off eventually, but IRNT is decent. Especially in these days of massive government spending and issue with cyber security.
Lol DFNS is pure p&d atm, no one’s buying this shit for fundamentals. It’s hit and miss which will moon and which won’t, you seem to like LATN for fundamentals which is fine, I can actually see that getting large redemptions are mooning temporarily
DFNS and GNPK were neglected and unloved before the merge. Look at them now. IRNT and RDW. LATNW has sat at .75 for MONTHS. Merger is a few weeks away. It started to show signs of life today. It doesn’t have the hype of space or cyber security so it probably won’t scream up to $4, but still a steal at .85. Earnings were positive. Confirmed guidance for the year. Announced planned mergers for early 2022. Blau Pharmaceuticals is a decent comp that IPO’s in Brazil at a higher valuation multiple and has gone up 20% since the IPO.
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: IRNT DFNS. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: DFNS IRNT. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: IRNT DFNS. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
IBKR. It makes perfect sense though. When the shares you borrowed from get redeemed, those shares don't exist anymore but you still owe the lender cash at exactly the redeem price. It doesn't matter what the price of the stock is afterwards, you still owe the lender the redeemed cash. You can't close your position either as the position is converted to a Tender contract position and is pretty much automatically closed after the redemption process. I still have SOAC.TEN and DFNS.TEN in my portfolio and just recently had GWAC.TEN removed at redeemed price. I was actually lucky cos after the redemption, float was reduced and price shot up. So it's probably not a good idea to do floor removal shorting before merger on shit SPACs. I thought I could do it since floor removal is at 3 days before vote and it gets entered into tendered contract in 2 days but it takes 2 days for the trade to settle.
So what's the new meta today? Merger bump/relief rally on everything? GWAC, DFNS, GNPK all doing well. Shame I had puts on the two former and sold half of my calls on GNPK out of fear.
Lol, this same dude was on here criticizing people for the low float p&d play on DFNS and now he’s trying to pump his own position based on the same premise. https://www.reddit.com/r/SPACs/comments/pbu8iq/announcements_x_daily_discussion_for_thursday/hafgmv8/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
well after the DFNS fun, i’m playing a couple memes today for a quick in and out with a few hundred bucks. let’s see how this turns out (most likely bad)
I am very surprised. I expected a much higher % too. Two possibilities come to mind: 1. I was wrong. 2. Given BLUW pumped prior to the merger meeting (on Thur, merger meeting on Friday), Arbs were able to call back their redemptions and sold into it. On #2, you can call back your redemption (I have done it before), but I am not sure it is possible to do so after the redemption deadline expires. The sponsor and target would be elated if a large arb called them up and wanted to not redeem, so I'm sure they would allow it if legal. So I think this is a possibility. Would also explain why BLUW sold down so quickly (on such heavy volume, 2x the float) relative to EFTR/LWAC and DFNS/IRNT, which occurred after the merger meetings. The top 5 shareholders, all arb funds, owned 36% of BLUWs float. Assuming they all redeemed, that means only another 20% of shareholders redeemed, which I find hard to believe given lack of fundamental and retail interest. Will be interesting to see where CHAQ ends up, redemption deadline isn't until Monday EOD.
We're all learning. Subscriber (PIPE) shares are delivered in a few days to a few weeks. I'm not sure if those shares are registered before or after delivery, but I would suspect before. The subscription (PIPE) agreements are attached the original 425. This one is from DFNS but they are all quite similar. For your viewing pleasure; https://www.sec.gov/Archives/edgar/data/1777946/000121390021015434/ea137631ex10-3\_lglsystems.htm
Saw some posters on stocktwits making a bull case for Iron net($DFNS) and honestly felt kind of shitty making bags off of it becsuse I don't think they knew why most people were playing these tickers.
I managed to sell on Schwab, but I've got a big red "securities due" notice at the top of my account. It's not a big deal, because I have an offsetting DFNS position. I'm just waiting for the name change to go through so the two positions get matched and zeroed out. Selling still took a while to execute though, and I made $1 per share from last night to this afternoon. I don't think the bottom is going to fall out on Monday. There were 30,000 options traded today. Those calls are going to be driving a lot of delta hedging on Monday. I've got a small number of calls I'm hoping to flip before the PIPE shares start trading Tuesday or Wednesday. Then I'll be looking to profit on the way down depending on what happens to IV. I see this one at $5-7 in 2 weeks.
DFNS [has a $125M PIPE.](https://www.businesswire.com/news/home/20210315005346/en/IronNet-Cybersecurity-the-Leader-in-Collective-Defense-and-Network-Detection-and-Response-NDR-to-Be-Listed-on-NYSE-Through-a-Merger-With-LGL-Systems-Acquisition-Corp) PIPE's aren't automatically "a few weeks" to register. From what I've seen the "subscribers" (the term frequently used for PIPE investors) will usually have the shares registered by ticker swap. IRNT swapped tickers a little quicker than usual, but I would be surprised if the PIPE's shares weren't registered by next Friday, but probably by Monday or Tuesday. Also, options prices aren't really relevant during the ticker swap. A lot of brokerages don't have the tickers swapped over yet (mine didn't), and options trading is almost always light during this period. On Monday, options will likely resume normal activity levels. Puts are the way to go with this one. This thing will be visiting XOS, HIPO, and the others in the SPAC graveyard by COB Friday.
Yes. I skipped BLUW because you had to be a man a straight buy shares. Also sold DFNS calls way too early
Reading the DFNS/IRNT stocktwits board full of non-spac people thinking this is a legit thing is painful to watch...some of them are starting to "discover" DD about what a reverse merger is.
so my shares haven’t converted fully for DFNS to IRNT but my stop less executed at 14. i guess it will balance out but it’s pretty funny to see that i own negative amounts of shares
lolol dude you are a monster also i have no idea what the difference is but i made enough off of DFNS i can buy 100 warrants probably so i’m in most likely
Doesn’t look unreasonable yet. Compare it with what DFNS had.
I don't think anyone really knows what is going on. We are all trying to figure it out, which is why this was a "discussion" piece. I am open to hearing all ideas, like you are. I do have the benefit of having a full service broker, and she can provide me with whatever color she can get from her desk. The "big funds" I referred to were just taking advantage of a price move up. A lot of the bigger funds do feel they need to abide by the naked short rule, so they will short even without a borrow for quick trades. The gap up was just them capitalizing on an opportunity. The pump and dump was just people posting about the "next" one who are already positioned in it. That is the BLUW. You need one or two recent examples, and then it is easy to sucker in the masses to just blindly buy the "next" one. The poor suckers didn't stand a chance on this one. Using today's DFNS/IRNT as an example - there were 17.25 mm shares, of which 93% redeemed, indicating their distaste for the acquisition. Leaves 1.2mm shares o/s. Today's volume is approaching 2mm already with 4.7mm yesterday. There is some churn of course. But who exactly is selling, given that there were only 1.2mm shares o/s, and very little borrow. This, along with the comments from my broker, led me to the conclusion of naked shorting by those who are allowed to get away with it. Similar story on the others. I'm just trying to piece it together, like everyone else.
A lot of brokers won't let you buy options today because the delist from $DFNS to $IRNT. I don't know if the MMs are properly hedging and the tradeable float is low.
How many more BLUW and DFNS/IRNT type spikes do we need before SPACs are back in the retail cross hairs? Cue the Apes…
There are two types of squeezes happening, neither of them short squeezes. 1. Microfloat momentum squeeze - what happened with EFTR, BLUW 2. Low-float momentum + Gamma Squeeze - what is happening with DFNS/IRNT The only one which I think might have been a short squeeze was HLBZ because some were short the stock long the rights for the $4.00 spread but it took 2 business days for the rights to auto-exercise and shares be delivered at merge. Ostensibly the shorts had to cover on a small float in the interim.
Correct. It's borne of low floats. LWAC, DFNS, BLUW, etc... all the same. CHAQ might not be strategically the best choice for "next" redemption play, but it does have by far the lowest float of all as was pointed out, so it too could move & even more explosively if people do "pile in".
Are you guys watching IRNT / DFNS? SPAC with liquid options and could squeeze. Basically no float
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: DFNS. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: DFNS. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
well fidelity still hasn’t changed DFNS ticker yet and i can freaking sell. guess i’m along for the ride
Looks like TDA has already completed the ticker change from DFNS to IRNT, which was my biggest concern this morning. Fingers crossed this pops into the 20s and I time the exit on these calls correctly
I have a question, to those saying this squeeze won’t last and arbs and hedge funds just won’t redeem their shares, why wouldn’t they redeem as most are happy with their 1-2% returns? As well as $DFNS squeezed before redemption numbers even came out as well as $GWAC… seems like the anticipation is going to cause the squeeze alone. Sure this may not last forever but I definitely think we have a few more before the trend stops, everyone said buying puts on despacs wouldn’t work and continued to work for months up until pretty much now as now the shitty spacs are squeezing on redemption numbers, now we have a new trend ahead of us
5 SPACs have completed their mergers and will begin trading under their new tickers today: $AJAX --> $CZOO $AHAC --> $HUMA $DFNS --> $IRNT $KSMT --> $GDEV $SNPR --> $VLTA
>DFNS After Hours Volume: 238.49K
Holy shit DFNS (now IRNT) up 27% currently, wish I joined yesterday for a bit of fun lol
Hey just to confirm. I'm stuck with 2k DFNS.TEN shorts right now and on IB it shows that I have 8k unrealized loss on it as it ran up to 14 last night. However, this loss isn't real right? My real loss per share should only be redemption price - short price instead of current price - short price. And 1~2 weeks later when the positions are cancelled I will offset all this losses. Is that right?
DFNS had 93% redemptions today.. might squeeze tomorrow
DFNS is the best one next. Get in early tomorrow AM. 93 percent Redemption low float. $40 P/T. I called it at $10.30 today
What's going on with DFNS? Is this another short-term squeeze due to redemptions or legit going up on its merits?
Ty for taking the time to reply. so I found that for DFNS, I closed my position on 23rd, vote was 26th. I think 23rd is when floor dropped too. Still got caught in this mess.
Thank you for the info, really appreciate it. So my buy to close was not really a buy to close, but a buy to open (new position). That’s confusing … least both GWAC and DFNS profited on the upswing. Sold a lil early though. As for IB, Their phone line actually picked up surprisingly quick but the operator had no clue what I was talking about and said he’d call me back. Hasn’t so far. I closed my long positions and will wait for the .TEN tickers to resolve.
How my squeeze plays have gone: DFNS: $10.50 > $11.66 CHAQ: $10.00 > $10.25 Gonna stop right here while I still have profits.
https://twitter.com/Biohazard3737/status/1431034423076655106?s=20 $DFNS 🤔
Tough to say, it's been under $10 for ages, so that's good, but not under $10 by all that much & it's also bigger than LWAC, BLUW, and DFNS, so that's not good. The other issue I've noticed is, people are starting to buy all these SPACs (crappy or otherwise) that are near their meeting date to levels even above $10 thinking they'll get in the next move. Why? SPAC people are dumb.
Been kicking myself all day for not grabbing those DFNS 12.50s at .25 instead of holding out for .20. Yikes what a mistake
CHAQ isnt a good target for this, because it's been near or over $10 for a while now = redemptions likely wont be high. If it does move, it will simply be because lots of people who dont understand the stock metrics creating this recent phenomena (like this OP) pile into it given it's tiny. ​ TL/DR: CHAQ is not like LWAC, BLUW or DFNS, so if it moves up it wont be because of 95% redemptions, it will be because of noobs piling in thinking it's the same.
You bought DFNS calls before the IV spike and the pump in the underlying?
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: DFNS DFNS. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
I am a bot from /r/wallstreetbets. You submitted one or more banned tickers: DFNS DFNS. Message /u/zjz if they're above 1.5 billion-ish market cap and not related to crypto/pennies/OTC/SPACs.
DFNS might actually be a decent company too. Could be a winner in addition to the squeeze.
Look at the post about DFNS, this one seems primed to rip
DFNS? The thing is, I believe :\
Dude, DFNS in and out. make it quick, then rejoin after lock-ups
Holy shit that level 2 data on DFNS 😍