The loop PP folks feel fine. it is a microcosm of Mittens and trickle down.
Folks first believe that Wave, or the US economy, will succeed. But they believe that it needs some help, some investment, and they think that that investment should enjoy considerable privileges (discounts, warrants, tax cuts, special consideration). They are the men-in-suits for lack of a better term that believe they are saving wave and its investors (or the country and its workers).
How many times has awk gone on about how it will all work out in the end if you just hold on (it will trickle down in the end).
How many times has snackman said 'you won't care after a few splits'.
This mindset of ends versus means serves to comfortably couch unethical behavior.
(disclaimer: I do not pretend to say that either awk or snackman benefit from this directly, i.e. that they are participants. I point to their statements as a representation of a mindset, not as an indication of what they do or do not participate in deliberately or otherwise.)
There is an irony this election year ... Wave's megabig PIPE was from Bain under Mittens' watch ... well ... maybe under Mittens' watch, there seems to be some confusion from Mittens, perhaps retroactively not under his watch. I am unsure if Mittens considers wave some of the jobs "he created".
(And on the eighth day God said to one 'Letterman': "In your later years I will have a man run for Pres that will be one of retroactively refined comedy").
So the insider pump-dump-and PP cover is an act of benevolence in the mind of the participants. They fund the company (on others' backs), and assume that you too will someday be rewarded with some trickle down. Diluted trickle down for sure, and certainly not fortified with warrants and all, but who's complaining after seven splits in seven years.
Jesselivermore sniffed out this bollocks and packed his bags (all IMO). I left only to return when cash flow improved. I failed to sensible step far enough back fast enough as cash-flow deteriorated, a mistake I expect not to do again with this equity.
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