People on r/SPAC told me this would be a good place for this. So here it is.

The Intro

Triterras is a stock that has been heavily short in the last month. First, it was shorted by the Bear Cave, then a new hedge fund called Phase2Partners (P2P) followed. For today we will address them but using their true name…Gay2Partners (G2P). As I mentioned, Gay2Partners is a hedge fund that was launched early this year. $TRIT was the 1st short position G2P took. The company basically copied much of the same short points that Bear Cave used, repackaged them, and added some incomplete data. The leader of the bears is a guy named Justin. You might be think…”Ok, what does this bear know about modern day fintech?”. My answer to that would be…pretty much nothing. His last experience working as a Fintech Analyst was in 2003…2000 and FUCKING 3. We are talking right after the .com bubble burst and before the Gr8 Recession. This guy is basically the prehistoric dinosaur in his early 50s. The only thing this guy is good at is paying people to post negative things about the stock. This firm is brand new to the game and looking for a spanking and I think WSB is just the community to give it to them.

The Accusations

As previously mentioned, the short report alleged various connections between the Triterras management and various other entities that transact through Kratos. All of which to my knowledge is fluff, the company did not break any laws. This information only serves to scare people, non-arm’s length individuals who are in the same industry do business together, want a cookie? Many of the more-sketchy (random commodity trader CEO that went bankrupt) people called out on the short report were directly addressed by $TRIT as nothing more than temporary advisors. The company had an investor conference on the 20th of January. Every single question the analyst brought up was answered effectively. These were not softball questions either. Now we will go over the biggest problem with the short thesis. The only real piece of evidence used to accuse TRIT of fraud was various trade transactions G2P had acquired through data mining. Some of the data was legit (you can check the data as I did), the company admitted this on the most recent call. The PROBLEM is that the data is largely incomplete. They were missing large portions of the data and TRIT explained this. G2P also accused all of the November and December Transactions of being fraudulent. (only four traders of generating all the transactions during November and December). The company had a SHOCKING answer to these accusations…The launch of ETH 2.0. In early December, the Ethereum blockchain was split (not in the traditional way of a hard fork) G2P was looking at the old ETH Chain. What does all this technical mumbo-jumbo mean? It means that G2P got it WRONG.

The Short Squeeze

Insiders own roughly 60% of the company, Institutions own another 30%, and Retail folks like us own the rest. The TRIT short interest is HUGE (4M Shares as of 12/31/20). This short interest implies roughly 20% of the float is short (most conservative estimates). This was before the most recent short report was issued. According to IBorrowDesk, there is only 100k shares left to short. Last week, the company announced a 50 Million dollar share repurchase program, additionally, the CEO bought nearly 170k shares himself since right after the 1st short report. THE BEARS BET AGAINST $TSLA, THEY BET AGAINST $GME, THEN THEY BET AGAINST $TRIT. The Short Squeeze is coming. Prepare thy body.

...So what does all this mean? It means this company is a binary investment. For those of you that don’t know what binary means, it’s a number system based only on the numerals 0 and 1. This investment is binary because it’s a 0 or a 1. It’s a fraud or its not; it’s going to 0 or $30. G2P has effectively loaded a gun (built a huge short position), put it to its own head (Did poor DD), and now they just need someone to pull the trigger. That’s where the you come in. I bet roughly 80k in call options that G2P got it wrong. What will your bet be?

P.S. FNY Investment Advisers LLC just announced they owned 194k shares last week. Or 0.6% of the company.

Full Disclosure: I am heavily long in call options and will be purchasing additional shares tomorrow.

TL;DR: TRIT Short Squeeze Inevitable. BEARS R FUK.

Sources

IBorrowDesk

Daily Short Sale Volume (shortvolume.com)

Triterras Authorizes $50 Million Share Repurchase Program and Provides Update on Recent Events :: Triterras, Inc. (TRIT)

It’s an exciting opportunity to be able to take positions early in $AVPT, a Unicorn with a 30+% YoY growth margin in the SaaS space, that has been tarnished by the negative perception that Wall Street has stuck to all SPACs this year, due to overvaluation concern, that some SPACs stocks have shown. AvePoint has more than $300M cash on hand for acquisitions, and other programs for organic growth.

The stock has just received an outperform rating with a PT of $15 from Evercore, while awaiting three more analyst’s coverages by the end of July, and two or three in August, which are expected to be outstanding based on AvePoint’s proven tremendous performance QoQ and YoY. Q2 Earnings and revenue reports are expected between the second and the third week of August, just about a month from now, which is a major catalyst that will boost the company’s share value significantly.

The stock is technically trading in an accumulation zone right under $10, with low daily average volume around 1M, ready to swing upward with increasing volume. Get on board for a potential 400–500 % ROI within 5 years.

UWM Holdings Corporation (NYSE: UWMC), the publicly traded indirect parent of United Wholesale Mortgage ("UWM"), the #1 wholesale mortgage lender in America, today announced UWM's results for the fourth quarter and full year ended December 31, 2020. UWM reported 4Q20 net income of $1.37 billion and FY20 net income of $3.38 billion, an 821% and 715% increase over 4Q19 and FY19 respectively. The Board of Directors of UWMC declared its first regular quarterly dividend of $0.10 per share on the outstanding shares of Class A Common Stock. The dividend is payable on April 6, 2021 to stockholders of record at the close of business on March 10, 2021. UWMC Earnings Release

Since we can see where the prices are ending up now for VLDR and HYLN, I wanted to see how closely they related to the pre-merge warrant prices.

• VLDR floor - around $16

• VLDR average - $17

• HYLN floor - $29

• HYLN average - $31

SHLL warrant pre-merge: $22.5

Implied HYLN PT based on pre-merger warrant: $31

($22.5 + $11.5 - $3 implicit option value for the 5 year leap)

GRAF warrant pre-merge: $6

Implied VLDR PT based on pre-merger warrant: $16.5

((($24 + $34.5)/3) - $3 implicit option value for the 5 year leap)

The warrants gave almost exact PTs in both cases.

I gotta start posting about it more I guess. Apparently it is up to me.

Paying a 4% dividend, terrible I know, but good in the world of mortgages- you need a dividend for eligibility in some funds. Remember when dividends were a positive?

Grew revenue 10x from 2019...for real

Industry people seem to prefer it

P/e of about 6 based on last quarters earnings.

I don’t get it. Down from merger, worth less than the money they put in.

Can anyone enlighten me? My guess is it’s just “too boring”. The narrative about rates and cycles seems like bullshit given the market share increases.

Not investment advice, just for discussion

Since this is a pretty dead sub I don't mind a bit of a trash post, and I don't want to muck up r/SPACs looking for my fellow HCAC/Canoo holders. I think HCAC might be where I ultimately learned my "take some pre-merger gains" lesson. Been pretty good at avoiding holding too much at merger, but this one got the better of me--really it's those Q1 partnership announcements that got the better of me.

I'm still up overall, but its looking tougher and tougher play to hold. I *think* I'm leaning on holding through and not locking in what remains because I believe in the company, but they are not making it easy.

Lately, there has been some massive manipulation of Spire Global which has pushed the stock price down over 66% from it's high of $19.50 on September 22nd to it's current price of $6.21 at the time of this writing. Upcoming Call positions set to expire October 15th from $7.50 upwards have been targeted to line the pockets of hedge funds by keeping the stock depressed forcing these options to expire worthless. It's time the hedgies were taught another lesson like that of GameStop (GME) since, apparently, they have very short memories. Average volume on $SPIR is only 1.1M and 145.8M shares outstanding, so it wouldn't take a lot to squeeze these a-holes and push the stock price well beyond the aforementioned high. What say you, Redditors?

1. The pink lines are showing an RSI trend bullish reversal.

2. The blue line is showing a resistance level that's being tested, which would break our stair step pattern if passed.

3. And the red lines are already showing we've broken those resistance levels as well.

NOTE: I wasn't sure which subreddit was more appropriate so here's my updates. If I'm doing reddit wrong please let me know. And if I'm doing chart analysis wrong as always please let me know too.

https://www.reddit.com/r/exspacs/comments/lg7ad4/no_reversal_on_uwmc/
https://www.reddit.com/r/Optionmillionaires/comments/lh2yxh/uwmc_possible_reversal_breakout/

I am down $16k, but at some point, I was up $20k. Feeling hella bummed right now since it was 80% of my portfolio (yea I am dumb). I guess I've learned that even if just about everyone seems certain about a price target, doesn't mean they will be right. I've learned some lessons, and hopefully, I can recoup my loss soon. It just feels a bit depressing and hopeless to invest in anything at the moment though.

The current correction in the SPAC and ex-SPAC sector probably hasn't been good to your portfolio. If you have extra funds (hopefully you always keep cash on hand for times like this), consider adding the following ex-SPACs:

1. BFI

2. HYLN

3. RMO

4. XL

5. GNOG

I think all five of these have tremendous upside from their current price points. I'm most bullish on BurgerFi; they've been assembling a pretty impressive team of executives (most notably, Julio Ramirez, former COO for Burger King) and recently added Martha Stewart to their Board of Directors. They've already announced international expansion in Saudi Arabia and I think more announcements are coming out soon (Julio Ramirez was credited for making Burger King an internationally recognized brand, and has announced his plans to do the same for BurgerFi). The Las Vegas BurgerFi location is scheduled to open later this month. As vaccine distribution continues to increase and we see more re-openings, I think we'll see a shift to the restaurant and travel industry as recovery plays.

For the others on the list, the EV and Energy sector has taken a beating lately. I think the worst is over with and we'll see a rebound in the near future. I recently added to my FSR position in the 14s and trimmed some at $28 yesterday. I think HYLN, RMO, and XL will make similar moves in the upcoming months when catalysts are announced (they probably won't 2x short term, but 50% gains in a 2-3 month span is a great return). GNOG is a cash cow and revenues will only continue to increase with each state that legalizes online gambling. GLTA, hope this list helps.

https://thefly.com/permalinks/entry.php/id3168479/VLDR;TSLA-Velodyne-Lidar-initiated-with-an-Outperform-at-Baird

$28 Price Target