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Andy Constan, founder / strategist at Damped Spring Macro, observes a significant decline in value from the mid 70s to 57 and describes the current situation as a long call option on highly speculative trading activity.
Constan notes that while he does not pass judgment on such speculation, the instrument he discusses is rapidly losing value, with a $40 bid in the market.
Constan previously observed ORCL shares falling 58 percent following a shift in the company’s compute capacity strategy, as noted in an earlier report. He has also commented on remarks made by the ONDS CEO, describing the executive as incompetent in a separate update available here. These prior observations highlight Constan’s close tracking of executive commentary and notable price moves.