BOT · RoboStrategy, Inc. Common StockRoboStrategy, Inc. Common Stock
🔬 The $2B effective ATM and current marketcap to NAV ratio are problematic for $BOT
The $2B effective ATM and current marketcap to NAV ratio are problematic for $BOT.
Evidence & details
- +$145m of illiquid assets that frequently trade under NAV
- +Market cap of $750M initially, now $490M after 37% drop
- +$2,000,000,000 effective ATM via equity facility slow-dripping
- +Retail providing exit liquidity at inflated valuations
- ⚡Continued dilution from the ATM facility
- ⚡Further NAV discount realization
- −Pyramid scheme dynamics with float
- −Wealth transfer to insiders
Chart
Post Timeline · 1 posts
I'm not sure how anyone thought it was a good idea to buy $145m worth of illiquid assets in $BOT that frequently trade under NAV. For $750M MC. Even after the 37% drop, it's still ~$490M MC. On top of that, people are buying into a $2,000,000,000 effective ATM that's slow dr…
Thesis: $BOT is a poor investment due to holdings of illiquid assets trading below NAV, a massive equity facility causing dilution, and overvaluation even after a significant drop, essentially a pyramid schem…
BOT trades at a massive premium to NAV ($7.34 NAV vs $37.92 price), implying an absurd ~$200B valuation for Figure while it's valued at $39B. Combined with $2B dilution, the stock is a red flag where retail serves as exit liquidity.
source ↗BOT is significantly overvalued relative to its NAV of $7.34, trading at $37.92, implying a $200B+ valuation for Figure while it's valued at $39B. The fund has $2B slow drip dilution and is described as a pyramid scheme.
source ↗The post compares Unitree's $6B IPO valuation to Figure's implied $200B+ valuation via BOT, reinforcing the bearish view that BOT is overvalued.
source ↗BOT is a closed-end fund trading at a massive premium to NAV, exposing buyers to overpaying for Figure (5x+ fair value) while facing $2B dilution.
source ↗BOT is overvalued at 4x NAV despite a 21% drop, with a $2B ATM facility and $146M in private assets; the valuation disconnect suggests a predatory move against retail investors.
source ↗$BOT is a poor investment due to holdings of illiquid assets trading below NAV, a massive equity facility causing dilution, and overvaluation even after a significant drop, essentially a pyramid scheme for retail.
source ↗The $2B effective ATM and current marketcap to NAV ratio are problematic for $BOT.
source ↗