Immuron (IMRN) Has Warrants, IMRNW
So, when Immuron (IMRN) ripped today, if you’re into playing hot stocks, what was your first thought?
I better get some IMRN before it flys. Or, maybe your first thought was, “does it have options?”.
Did you ask if it had warrants? If not, you missed a dandy trade. IMRN, as I write this, is up 1,120%. The warrants, 2,358%. EASY MONEY, right?
Not exactly.
The terms appear to be one warrant plus $10 gets you one share of common. But, with the common trading through $25, the warrants were at just over $2.
What gives? Seems we’re getting a lot of these recently right. Some easily explainable, others just not clear yet.
So, what do I do when I see a stock RIPPPPPING, and the warrants not moving. When, it seems they should be.
I do two things.
- Take a small position
- Call my broker
The warrant market is in a bit of a frenzy right now, in case you haven’t heard. So, if a company has a warrant, and the stock is flying, and it seems the warrant should be higher, but isn’t yet…I buy a little.
I won’t take credit. It’s what my mentor, Les, taught almost 25 years ago. Go ahead and buy a little, THEN figure out what the deal is. (Still not exactly sure with this one, but I’ve already bought just over $2 and sold over $7…missed the top…but who cares, and am out.)
Thanks Les! Your sage advice just paid for this year’s summer vacation in less than an hour. Gotta LOVE trading warrants.
You know where to find me: