The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Nice that management is giving some confidence to the market by making inside purchases of the stock. Reflected in the upward share price movement today. No doubt the shorts will try to bring it down again today and the days that follow. But company is going well and little bits of news like this keep chipping away. One day there will be an unravelling of the shorts which will reward us all for our patience.
Hi Watty. It’s on page 51 in the Health section. “AI tech to speed up help for burns victims” by Ethan Ennals. It doesn’t actually mention Spectral AI by name but does refer to DeepView. Yes, I understand about switching the holdings to the ISA. The risk is being out of the market when the shares suddenly rocket. Maybe the best thing is to wait until the next big move upward (as even if it’s a big move it’s unlikely that you’ll be in profit at that point), wait until it stalls and then sell. Hopefully then you can get buy the shares in your ISA. From what I’ve seen it does stall after a big move and drift backward. Probably best to try at the next move upward because as time goes by the company may become more established and less susceptible to a drift backward.
Hope everybody is doing well and keeping the faith here. The deep view technology was mentioned in The Mail on Sunday yesterday as “game-changing technology”. Earnings was solid and the main thing is that commercialisation is on track. It is frustrating that the shorts are still with us manipulating the stock. However, as awareness increases our day will come. I still fully believe that we should get to $10 per share and then go far beyond that as deals ramp up and the technology expands to other areas. It’s all about contract / deal completion and Spectral AI should win plenty given we are a monopoly in a current $15bn market.
Glad people still on here. I’m following your multiple ids Jimzi. Great work and always excellent comments. There is an absolute troll on yahoo message board who posts complete nonsense about 10 times a day. Annoying. Yeah, I’m feeling that our company is starting to get some transaction and could fly hard any time. Excellent report out from SP Angel. Conservative price target of $10.6. I feel that some big news and contracts are imminent. Hang in there everyone and don’t give away any of your shares. Multi-bagger in the making here.
Great work on promoting the company on stocktwits. Watchers increasing rapidly.
I’m personally glad to see Mike Murphy exit the board as I always felt he was an untrustworthy sort out for his own personal gain. His place has been taken by Dr DiMaio who has an astounding medical background and is a co-founder. Both he and Erich Spangenberg own 45% of the shares and these have been agreed to be locked up for a further 180 days. So nearly half the shares are locked up. I encourage everybody to persevere and hang in there. It will just be a matter of time before the stock price reflects the great potential of our company. It will take as long as it takes, but I believe we will all be rewarded in the end. Don’t let the shorts wear you down. As Charlie Munger said, the money is made in the waiting.
Good questions. I would also like some insight into this as I've never experienced this naked short selling before. I had a look at the Spectral AI sight and there are no updates. Perhaps in early to mid February the full year 2023 results will be announced and some catalysts or promising forecasts may arise from that as well as reference to the trading. I feel that some good news or upcoming catalysts can panic the shorts and trigger a mass exodus. One can only hope.
Yes, my take on it is that it's a $10m placing for £2.55 per share. However, as Jimzi referred to on Stocktwits, Spectral AI can control the timing and amount of any sales of this stock to B Riley and there is no upper limit on the price per share. So over time, hopefully that share price will go up significantly and Spectral AI can offer some of that stock at a much higher price than $2.55. Essentially $2.55 is a price floor. A guaranteed minimum that they will receive from their stock. It secures access to $10m of funding when and if needed. So the longer Spectral AI can wait without needing to sell stock to raise fund the better, with the view that the stock price will be much higher in time. Hopefully HL will deliver those shares and a short squeeze will take place driving the price higher very soon. Some traders with experience of this sort of thing seem confident that there this stock will run up significantly in the not too distant future.
Have a Merry Christmas everybody. It's been a great community here sharing thoughts and all inputs are much appreciated. Having seen the price action of other SPAC demergers it only takes one or two days for a complete turnaround in share price from a big loss situation to profit. One day it makes for a depressing picture and suddenly within 24 hours it can be in profit and sailing to true value. I've seen big moves of 100% to 400% on other such stocks which proves it can happen. I believe that day will come for Spectral AI and is not too far away. A lot of progress and good news could be on the cards for Spectral fundamentals in 2024 as well. So everybody stay positive and be excited for what 2024 will bring.
Https://finance.yahoo.com/news/spectral-ai-names-industry-veteran-130000826.html
This looks like an excellent hire. Very experienced and should help maximise shareholder value. A person of his calibre must be optimistic about what the company has to offer in order to join. Pre-market looks like it is responding positively.
Hoping the HL holders will receive their shares soon. Thanks for the updates everybody.
Watty, that filing is very difficult to understand. Some of the people on Stock Twits couldn't really make head nor tail of the last similar filing on 7th December. Ultimately I don't believe it has much impact one way or the other. Just an administrative exercise.
It certainly feels that the stock is ready to rocket. We've all been patient and from what I'm reading it seems that HL should distribute the shares very soon (any day). Shorts need to buy stock to return what they borrowed. That should send the price higher as they buy, and the higher it goes above what they borrowed at, the more desperate they become to get out as they will be losing money with every % higher. However, why would current shareholders sell at this ridiculously low price, or anywhere below breakeven which would by around $6 for many. In that case of not many shares being available for shorts to buy, I'm not sure what happens. Can shorts be forced to close and if so how? It will be nice to get this short term manipulation and trading strategies out of the way and start enjoying seeing the stock price trade on fundamentals.
Https://www.sec.gov/Archives/edgar/data/1833498/000121390023089245/fs12023a1_spectral.htm
New SEC filing tonight relating to common stock issuable upon exercise of warrants along with a secondary offering.
I'm not too knowledgeable about shorting, but I take my cue on that sort of stuff from Jimzi on stocktwits. So apparently at the minute the shorts have to close some time around end of November. They know that as the price rises any profits they have will be eroded and with shorting there is the potential for them to lose infinitely. So they continue to try to take the price down to scare those current stockholders into selling as there are very few shares available, so that they buy, return those shares and can get out, but they are struggling to do so.
Personally I put most of my money in pre-merger and have bought a bit more around the $3 mark. I will definitely be holding long term. I thought it was a bargain at around breakeven for me which is around $6 and believe this should go well into double figures. I look at many companies and this really stood out for me with the unique product, patents and large addressable markets, zero debt and backed by the US Govt. I'm feeling surprisingly confident despite the shorting.
Sometimes it's hard to see the price fall to these levels and it creates uncertainty. That's what the shorts want. I've read that investors like Buffett invest in companies as if stock market doesn't exist ie. their decision is purposefully detached from the stock price working on the principle that in the short run the market is a voting machine and in the long run it is a weighing machine. Spectral AI should already be double figures and shows so much promise to build further on that, so for me it will be a long term hold, but also feel that it won't be long before it at least doubles if not triples from here. (Hopefully in late November we'll see significant upward movement).
Ps: Vince at Spectral AI investor relations replied to my earlier question about non-delivery of shares. I informed him that AJ Bell had delivered and he thought it was odd that delivery had taken so long.
Glad you got them ehoey. Hoping the rest of the brokers follow swiftly. I'll be so glad to get rid of these shorts. Jimzi mentioned on ST that they will have to close by late November / early December. Hopefully there will be a big jump upwards to double figures or thereabouts when that happens and then it will be good to finally enjoy trading on company fundamentals rather than market manipulation.
Yes, I've just checked and I've got my shares now in AJ Bell. About 50% down and that's after buying some more post merger. Glad I've at least got the shares now. No regrets in investing in this company which has very strong potential. Just a poorly executed transaction. Hoping the share price can bounce back quickly.
From reading Stocktwits site, somebody (maybe someone who is here too) mentioned that Interactive Investor shares have landed. Not HL though and I'm still waiting for AJ Bell. Will be interesting to see if this impacts the stock price today in any way. Also, watch out for after hours when the third quarter results are announced. Hopefully the announcement will give a strong picture.
Nice. Hopefully all brokers will have received or will shortly be receiving the shares.
Just noticed a filing on Friday night saying that a Laurence E Hirsch has acquired 900,000 shares. A search on him shows that he owns private equity firm Highlander Partners. Hopefully this is a sign that word is spreading about Spectral AI and we will build momentum with some big buyers coming in.
https://www.sec.gov/edgar/browse/?CIK=1833498&owner=exclude
Update from AJ Bell. They have now received the DRS statements from the American transfer agent (Continental Stock Transfer & Trust Company) and are now in the process of depositing the statements with their overseas custodian. Once that is complete the shares will be transferred into the UK settlement system, CREST, to allow electronic trading.
Good that things are moving. Sensing that there is going to a big surge upward in the share price coming some time soon.
Have a good weekend all.
With Q3 results scheduled for Monday 13th November and a call the day after it will be good to hear updates on the company's progress but also maybe some updates around the listing transaction and how they see that playing out.
Totally agree. It's been a great community here. It has made things a lot easier with the sharing of information. It's definitely been a unique and unpleasant experience and it has been much easier to get through with the help of the board. It's a good company and I believe it will eventually realise it's true value. The senior leadership team are even in Saudi Arabia promoting the company as we speak. Saudi Arabia has a huge potential diabetic foot ulcer market.
Hopefully the shorting won't last much longer. When this stock reverses it should be explosive.