MGT Capital more questions – guest post – the author of this post has a short position in the company
- Issues debt convertible at $1 (significantly below market) and gives 300k free shares.
- Doesn’t disclose transaction for several days, and then only in an 8K.
We have been bearish on the stock of MGT Capital (MGTI) and believe this highly controversial company, which has little revenue, loses money, and was recently delisted from the NYSE remains significantly overvalued. We expect the company to report another disappointing quarter when it announces earnings (or lack there of) later this month. Despite its recent drop, MGTI’s stock is still up 400% year-to-date.
MGT Capital
Our bearish...
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