Stryve Foods Inc
$0.01 (0.59%) Today
52 Week High
52 Week Low
7 Days Mentions
Even though I do not agree that SNAX is a good investment/trade, there is really no need for a personal attack. Market sentiment changes all the time, and it is really hard to assess which stocks will retain its values. An example is CVT, I bought PUT options as a trade because I thought with the pipe unlocking, it would go down. It however, went on a surge. Lesson is that nothing is for certain, and we just need to be careful when it comes to low volume, newly de-spaced companies.
Jeesh man, play nice. It could have a buyout offer or something like that. Plenty of folks have at least one bag these days and mostly we try to celebrate character, exceptional humor, insight or fortitude these days. It could always still perform. Maybe to even the score you could share your biggest risk gone wrong. We can all learn. As far as I recall, he had six figure gains on his taxes. It is all relative. His SNAX position is probably not as big my DNA 🧬 position, relatively speaking. You are so smart and I mean that sincerely, I would be interested to see your self analysis of an analogous experience from your own trades, to keep it real. But of course he is a hard ads and doesn’t need me to defend him. I am genuinely curious to know about your parallel situation.
[https://www.reddit.com/r/SPACs/comments/qdkvwk/snax\_a\_baby\_thrown\_out\_with\_the\_spac\_bathwater/](https://www.reddit.com/r/SPACs/comments/qdkvwk/snax_a_baby_thrown_out_with_the_spac_bathwater/) "I am long 11,000 shares SNAX & 14,600 SNAX warrants on my belief this company is tremendously undervalued at $5.16 " ​ lmaoooooooooo
u/StarmanRick Got the SNAX shipment with the Chipotle Honey SNAX last night. Agree that it's very good. I think it's sort of the perfect amount of heat for someone who likes some heat, but doesn't like a lot of heat. I still prefer the Habanero SNAX though, which is just a bit hotter.
No, people have been speculating what might happen if SNAX were to trade under $1 for the next several months. If SNAX were to trade consistently under $1 until early 2023, then a reverse split might be required to keep them listed on NASDAQ.
If there is a reverse split, then ***both*** the exercise ratio ( for example, 1 warrant exercises for one common share ) and the exercise price is multiplied by the split ratio. For example, SNAX warrants are one SNAXW plus $11.50 exercise for one SNAX common stock. If SNAX did a one for 5 reverse split, then it would become 5 SNAXW plus $57.50 would exercise for one SNAX common. That seems counter intuitive at first, but it helps if you think of it this way: If someone exercised 5 SNAXW today, they would pay $57.50 and receive 5 shares of SNAX. Then if SNAX did a one for 5 reverse split in 6 months, they would own one share of SNAX. The warrant agreements generally all have the same provisions, which ensure that the warrant doesn't lose or gain value due to a forward or reverse split. As far as redemption terms, think the redemption trigger values also get multiplied by the split ratio. So instead of $18 in the above one for 5 reverse split example, that would become $90.
/u/SPAC_Time Thank you for the info regarding SNAX warrants. Could you elaborate on one more thing? If a SPAC (like SNAX) has a reverse split, how are warrants affected? Do they generally get reverse split as well? Does this change their redemption terms?
On the possibility of SNAX or SABs delisting: Rules dictate that it has to trade below $1 for 30 days. Then an automatic letter gets sent. The company then has ten days to respond with a plan. Factors that help are consistent insider buys, strong war chest to burn, and a case for forthcoming material disclosures that are positive catalysts. These Performance improvements have six months to be effective. In the case of SABS the outlook is good for 7 months out. I simply don’t know enough about SNAx to have an opinion. Once I understood the process and timeline I felt better. Hopefully it helps you folks, too.
The SNAX [warrant agreement](https://www.sec.gov/Archives/edgar/data/0001691936/000149315219001223/ex4-6.htm) **does not** have a Black Scholes clause. See **4.5. Replacement of Securities upon Reorganization, etc.** "the Warrant holders shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the Ordinary Shares of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the Warrant holder would have received if such Warrant holder had exercised his, her or its Warrant(s) immediately prior to such event" Basically, in a cash buyout, one warrant plus $11.50 will exercise for the buyout per common share amount. So, if the offer was for $12.50 per share for each share of SNAX, the warrant would be worth $1. If the offer was $10, the warrant would be worthless ( one warrant plus $11.50 would exercise for $10 cash ). In a stock based buyout, for example each share of SNAX would exchange for one tenth of a share of ABCD stock, then each SNAXW plus $11.50 would exercise for one tenth of a share of ABCD.
THIS!!! I have only a vague idea. I secretly hope for it, but I'm not sure on outcome. We need McSpacface to weigh in, as, I'm pretty sure his whole gambit in SNAX at this point is to hope for an acquisition. He knows exactly what will happen to warrants in an acquisition.
It was interesting to me because just like some players are in SNAX because they think it is ripe for an acquisition, I think SABS might be able to stay alive longer and is ripe for an acquisition in the event they cannot raise capital in another round when needed in about 2 years. Similarly, DNA just got down graded by a single point of analysis that measures the cost of a future capital raise in this environment, too. For once in my life I thought this NOL plan would make the tendency to put $DNA in a biotech basket a good thing. With credit tightening now, and projections extended for tight money through Q3-Q4 2023, many tickers are getting downgraded on their WACC in a four year DCF. If they can sell NOL carry forwards it is a way to raise cash in an extended tight credit environment without a big merger or acquisition. Good for pre-revenue biotech and let’s face it most SPACS are Pre-revenue.
> Yes, one of those; or alternatively maybe I think this company is the market leader in a new, niche market that is rapidly growing its footprint & is in the very early days of building out a new market in which SNAX currently has no meaningful competition & will likely be acquired by a food & beverage major for a significant takeout premium in the next few years at X times the current share price & I'm building a position over time while continuously monitoring it's progress, spend, sales etc... > > Costco in Boca had pretty low inventory. Picked up a bag on sale for $7.
Yes, one of those; or alternatively maybe I think this company is the market leader in a new, niche market that is rapidly growing its footprint & is in the very early days of building out a new market in which SNAX currently has no meaningful competition & will likely be acquired by a food & beverage major for a significant takeout premium in the next few years & I'm building a position over time while continuously monitoring it's progress, spend, sales etc... Nah, that cant be it! Is there a new space stock to put thousands in?
SNAX check @ COST #2: Whereas the first COST was 100% sold out of its full 2 pallet order, this one sold out of 1.5 pallets & had about 50% of pallet #2 left. Pretty clear from this that this second location will sell out 100% of its SNAX as well. Both COST locations are in Central Jersey, but the one that sold out already is in a more populated area, whereas the second one with about 25% inventory left is in a rural area. https://ibb.co/r6r0JX3
You cant look at their expenses & make forward projections on them as if they'll continue in a similar run-rate because they've stated they're going to be absolutely nuking them. The marketing expenses for instance were millions, and IMO completely over-the-top. They probably will need another raise in about 12 to 15 months, but assuming the growth is there I couldn't care less. The biggest issue with them going public was they got caught up in the SPACpocalypse & lost all there SPAC money with 95% redemptions. In fact, SNAX probably would have been a SPAC redemption squeeze, but SPAC redemption squeezes werent a thing at the time, but it had a higher redemption rate than the initial ones that ran. In any event, if SNAX got the SPAC cash they thought they would they'd probably be in fine shape. A
SNAX sells expensive and sometimes rancid beef jerky. They just grossly mishandled their cash flow and debt, and will still probably require another cash raise within the next 3 quarters. Why are we even talking about this company and product. Challenge: try not to mention float
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IPOF was trading at $17 just because it was Chamath and countless others were trading at $13-$15 just because they “hAvE a GoOd TeAm” so there’s no chance it wouldn’t at least be at $12 when people realized that UTAA has an executive from OnlyFans. This is exactly why this sub is dying off, because even when the slightest bit of excitement or speculation comes out, everyone in here shits on it. But they’re more than happy to talk about how great of an investment SNAX is at $10 and then at $5 then at $3 and then at $1.
>*Volume of seven moved price by $0.02* SNAX is very low float, and IMO is likely even more low float than people think due to closely held Class A shares by insiders, which technically increase the float size, even though they cant actually simply be sold on the open market in an instant. There are days when it finishes down even though 75% of the order flow are buy orders. It can be up all day & someone sells 400 shares in a market order and it drops by 4¢, simply because at that moment there wasn't a bid near the ask.
Goodness BARK. Not even a dead dog bounce, just continual pain. I was giving SNAX a lot of grief for its recent dip, but I would not have imagined BARK going well into the $1 handle with the potential to cross paths with SNAX. lol, what price would you buy BARK? I remember a lot of people throwing out trolly numbers like $1-$2 half a year ago. Where you all at?
SNAX will be this subs GME. I dunno if we can get traction but…. After 5 minutes of research after accidentally ingesting too much caffeine because my wife made some crazy ass whipped instant coffee recipe and added tablespoons instead of teaspoons, I have concluded that a large portion of the float is owned by people who will not sell. CEO owns 13%. Dude below owns 6%. That’s two people at almost a fifth of the float. It costs 82,000 dollars currently to buy 1% of the float. That’s pretty nuts. Average volume is 210k daily. Yesterday it did 78k which is 1.2% of float
The new SNAX CEO who just took over last week now owns about 13% of SNAX Class A shares. At some point I really need to get off my ass and calculate just how much of SNAX's already very low float is actually controlled by close insiders, rendering it even more low float'ier than it appears via stock screeners.