The analyst holds a large long position in SIVE and is waiting for volume ramps and company execution, viewing recent convertible notes issuance as neutral or not positive.
The convertible notes issuance was likely priced in and is not positive; institutional demand is high but $140m is not a large amount; the analyst is ignoring noise and focusing on execution and volume ramps.
No, it’s the same if not higher. Markets are closed and if there’s no new developments, then I have nothing new to add. $SIVE is personally one of my largest holdings and I’ve posted all my thoughts on their hyperscaler supplier relationships. So I’m just waiting for volume ramps and company execution and ignoring a lot of noise. The convertible notes is not new information and was likely priced in for awhile. Having it executed now is not a positive thing like others are framing, since Bootstrap Europe is a venture debt fund. There’s likely instituonal swaps happening given oversubscribed instituonal demand around these levels. $140m is not a big amount in terms of institutional flows.
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