True, however it it very embrassing for CAP management and has other ramifications.
IMO, the court of public opinion has very much been on the side of CAP management. The fact that SIlvergate has managed to catch them out in such a way does add weight to the Silvergate side.
More importantly, these 1.3m shares need to find a new home. Who will buy them and at what price? Our buy depth is terrible, so placing them on the open market would depress / kill the shareprice, maybe down to 4c, 3c, probably lower.
Then what happens if we need to raise capital???, raise at 2c, 3c???
Silvergate won that last move in this ongoing chess game and IMO, it was a big one.
CAP Price at posting:
6.2¢ Sentiment: Hold Disclosure: Held
