Noob question re: warrants

Discussion in 'Trading' started by Replicant DB109, Sep 26, 2021.

  1. Hope this is the correct forum for this..

    Im new to trading/investing and am trying to dive a little deeper into a few areas. One recent thing that came across my radar is warrants. Im trying to wrap my head around their basic use and impact on an individual stock. I'm still learning the very, very basics so please go easy on me if my question is absurdly elementary...

    So my first question...

    Very generally speaking, would i be correct assuming that, if a company issues a large quantity of warrants at $10 and the price of the stock trades above that price, that the warrants (if they are call warrants) create selling pressure on the stock above the issue price until they are all exercised? Assuming the volume of issued warrants is large enough to move the stock based on number of warrants compared to daily trade volume.

    I realize it doesn't necessarily mean all of the warrant holders will exercise their option at the same time though, but is it something to pay close attention to when researching some stocks?
     
  2. ZBZB

    ZBZB

    Long term options.

    No.
     
  3. ajacobson

    ajacobson

    One issuer and limited quantity so easy to squeeze - so often tough to short. Credit quality issues are often issued with stock as a sweetener. Credit quality is akin to converts. Large active markets outside of the US. Often callable.

    Can be a great opportunity for inexpensive entry.
     
    Last edited: Sep 26, 2021
    zdreg likes this.
  4. zdreg

    zdreg

    How this akin to death spiral convertibles?
     
  5. ajacobson

    ajacobson

    Generally a sweetener, tough to short, and generally credit quality issues. Often callable.

    What is a death spiral convertible?
     
  6. Meaning the issuer has bad or no credit track record? They seem popular with new offerings but i still see them offered with developed small companies, albeit good companies slightly cash strapped.
     
  7. ajacobson

    ajacobson

    The irony is that almost all scale desks still engage in convert arb.
     
  8. zdreg

    zdreg