They announced yesterday they secured $1.5 billion in revenue contracts and daily volume when from a few million to nearly a billion shares traded and the stock jumped over 200%. Then they announced a deal today they agreed to sell 37m shares at $1.30 to investors spooking the people that just bought the day before. Might be a lottery ticket so I scooped up 1,000 shares in the after hours at $1.22. Worst case scenario, it tanks back to where it was trading at 50c and I lose a measly $700 bucks and exit the trade.
Was it an offering? Those are very common on p&d's. Had a few winners on it. Gevo Short 1.61-1.41 Gevo Short 1.81-1.61 GEVO Long 1.15 PT of $2 (Didn't actually hold all the way up there thou.) GEVO Short 1.47-1.29
In this market it may be heading for $50 range, but most likely destined for the 50 cent range. The section in Bold Underlined Italics is the relevant passage. Typical pump and dump. Thursday, August 20 2020 11:48 PM, EST Gevo, Inc. Announces $50 Million Registered Direct Offering Priced At-the-Market under Nasdaq Rules GlobeNewswire "Press Releases" ENGLEWOOD, Colo., Aug. 20, 2020 (GLOBE NEWSWIRE) -- Gevo, Inc. (Gevo) (Nasdaq: GEVO), today announced that it has entered into definitive agreements with institutional and accredited investors for the sale of an aggregate of 38,461,545 shares of common stock (or common stock equivalents) at a purchase price of $1.30 per share in a registered direct offering priced at-the-market under Nasdaq rules. The offering is expected to close on or about August 25, 2020, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds of the offering are expected to be approximately $50 million, prior to deducting placement agents fees and other offering expenses payable by Gevo. Gevo intends to use the net proceeds from the offering to fund working capital and for general corporate purposes, which may include the repayment of outstanding indebtedness. The securities described above are being offered by Gevo pursuant to a shelf registration statement on Form S-3 (File No. 333-226686) which was declared effective by the U.S. Securities and Exchange Commission (SEC) on August 28, 2018. The offering is being made only by means of a prospectus, including a prospectus supplement, forming part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the securities being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, by visiting the SECs website at www.sec.gov or by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, New York 10022, by email at placements@hcwco.com or by telephone at 646-975-6996. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Gevo Gevo is commercializing the next generation of renewable premium gasoline, jet fuel and diesel fuel with the potential to achieve zero carbon emissions, addressing the market need of reducing greenhouse gas emissions with sustainable alternatives. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their lifecycle). Gevos products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevos technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevos ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented, technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low carbon products such as gasoline components, jet fuel, and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion dollar business. Learn more at our website:www.gevo.com
What they didn’t tell you is The “1.5B in contracts” is over the next 50 years. GEVO is a piece of shit always has been
Meh...didn't feel good about trading this shit. Out @ $1.37 Too many people burned on this one as it seems they have a history of their contracts falling through. Plus all the jack offs on stocktwits are raving about how they're all going to be millionaires with this one which is usually the kiss of death for a stock.