It’s great that AA and co. decided to cancel prop 1. Now there won’t be as much division and bickering about which way to vote.
Unfortunately, it won’t do anything to kick start any type of squeeze though because hypothetically, if they didn’t remove prop 1 and the time to vote came and the majority of apes voted no, we would still be in the same situation (assuming the squeeze still hasn’t happened by the time to vote). Of course a vote of yes would change the game.
Like we saw last time this yes/no voting came up, AA was able to dig up those 11.5 shares from the old 43M issuance and dump them into the market back in June (right after Memorial Day) and it stalled out the rally we were building. That left a bad taste in my mouth and made me not trust him, so when today’s news came out, I took it with a grain of salt. More than likely there aren’t any other ways he can dig up more shares but it wouldn’t surprise me if he is looking around somewhere.
HoustonWade actually had a good suggestion though about AA issuing movie tickets as special dividends. Something like that would have more impact than AA pulling the prop 1 vote.
Hopefully the FTD’s on the threshold securities list will speed things up though.