Sometimes reality can be more amazing than any scenario you can imagine. The parent company Security
the father
+4.02%
Base:567.6
opening:589
High:600
low:570
change:6,078,610
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which is on the way to transition from the Israeli market to the American market, after closing a Spak merger at a value detached from reality (here’s the explanation), and postponing the merger for a month, while replacing the management and on the way the investors, and even the PIPE investors, are running away from it, reports that it is canceling the shareholders’ meeting planned for this coming Sunday, February 26th. The company does not provide an explanation, but the only explanation that appears in the announcement is that “as of the date of this report, the PIPE funds have not yet been deposited” – are the iron investors in the company also afraid to actually invest in it? Maybe they also realize that they entered at too high and unreasonable a value, or is it just another slight delay?
A month ago we explained that there were investors who bought the parent’s shares for $10 per share, as part of the Wall Street merger, when in Israel it traded at a price equivalent to only $2 per share. What is the logic? After all, it is possible to make an arbitrage profit here.
The meaning is that the stock will probably fall – and it is likely that the father also knows this. They are not stupid. Maybe the stock will not fall not on the first day, maybe the stock will behave like
Pagaia
-2.73%
closure:0
opening:1.11
High:1.11
low:1.02
cycle:—
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,
Selena
-3.6%
closure:0
opening:2.51
High:2.58
low:2.36
cycle:—
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or
Stickspay
+1.54%
closure:0
opening:1.33
High:1.44
low:1.26
cycle:—
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– I mean you will jump and then you will crash, but in the end it will happen. In the world of spaks you never know. The economy is indeed winning, but it can take time. Everything can be. When you enter such shares, you are not investing in companies, but gambling. It is allowed to bet but you should be careful. – In the end, the economy wins and the price drops.
With the father’s strange merger announcement, we wrote that perhaps the father “didn’t hear about the death of the spot market, the destruction of value and the investors’ redemptions”. It is likely that they have since heard about it. Maybe they hope that even after a crash of 50% or more in the share price, it will still trade at a price that is higher than the price in Israel. You know, it can happen. In such a lucky case – maybe whoever joins the company will earn something.
The father obviously wants to expose themselves to larger markets than the local market. They talk about huge potential and it is clear to them that they will succeed. They also just now appointed as CEO of the company an IDF general, Uzi Moskovitch, who is also the chairman of the company. He served as the head of the ICT department and was released from the IDF in 2016. Behab definitely wants to show Wall Street that they are serious and maybe they will succeed, but the question is whether the stock is worth it. So far the answer is no. The company loses tens of millions of shekels a year, and it needs to go through a significant weight loss change – layoffs – in order to succeed in improving and reducing losses. Expect layoffs in the company.
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