According to the Barron's article:
The discount to intrinsic value reflects the inability of warrant holders to exercise them now. The warrant terms state that they can be exercised at the later of 30 days after the closing of the deal with Trump Media and Technology Group or one year after the closing of the SPAC offering date, which was in September.
And later on this is interesting about some platforms not allowing trading in warrants:
"If you want a piece of the business at a lower implied valuation than the stock, the warrants are a no-brainer," Klymochko says. But speculators would prefer to play the stock, he says, adding that some trading platforms popular with Reddit investors may not allow warrant trading.
The discount to intrinsic value reflects the inability of warrant holders to exercise them now. The warrant terms state that they can be exercised at the later of 30 days after the closing of the deal with Trump Media and Technology Group or one year after the closing of the SPAC offering date, which was in September.
And later on this is interesting about some platforms not allowing trading in warrants:
"If you want a piece of the business at a lower implied valuation than the stock, the warrants are a no-brainer," Klymochko says. But speculators would prefer to play the stock, he says, adding that some trading platforms popular with Reddit investors may not allow warrant trading.
