At the risk of looking like a shill I write this short and sweet DD but something happened last night that got me psyched.
Tony Aquila the CEO of Canoo, through the use of shell companies bought 35.3 mil shares from another insider, DD Global Holdings and he's not done he will also be looking to buy another 18 mil from them as well. Currently Tony Aquila controls 21% of the voting rights.
Why does this matter if the share were not part of the float in the first place?
Because while other pre-revenue EV CEOs are selling millions of shares frauding their investors, this is the only CEO to YOLOing almost his entire net worth in to his work. Examples being: Lordstown Motors, Fisker and Nikola.
Tony has been secretive about what is going on behind the scenes at Canoo but him willing to buy $270 mil worth of shares with another $120 mil worth of shares on the way is SUPER BULLISH.
Why do I say that Christmas came early?
Because shorts are trying to keep the price down as much as possible to lessen the pain. Canoo is currently down 8% today so anyone opening new positions or adding to their positions are going to be happy pretty soon. As of this morning there is an estimated 42.68 mil shares borrowed (ORTEX). Calculating the short interest for Canoo is easy since the Free Float is 99.3 mil so, SI is around 42% of the free float. I'm not going to say anything but that its super high and ready to do something that will ban my post. Last Friday 2.6 mil shares worth of calls ended ITM shorts are losing their ability to keep the price down.
I'm all in couldn't buy more since my last post.
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