$SHCR At $10 a share this company took advantage of crazy valuations SPACS are willing to pay for decent companies. Insiders sold a bunch of stock on the merger at a price North of $3.8 Billion ($10 a share). The shorts and other investors used the public liquidity to sell the stock down to $6.45 or close to a $2.7 Billion valuation less cash on balance sheet of $400. $2.3 Billion for $31 Million in 2021 EBITDA Still crazy expensive. The good news is that the company should grow EBITDA quickly to $100 and the stock can grow into its valuation. Probably a good place to start accumulating some stock if you have a long term perspective.
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@johns45 yes but those shares went to fcac and pipe investors, else they would have diluted existing equity holders or pre public sharecare. Your original comment that this all started from worded it in a way like sharecare insiders sold 27.5m shares of $SHCR This is standard practice for all spacs how else do pipe investors and the spac get their percentage of equity in the surviving company, nothing was sold on the open market it was transferred to new investors Theres a reason the public float is less than 10% of the total float