Its stock has since fallen to roughly $4.50 per share, also on no news.
Tether has publicly listed a company that partially controls USDS
Short sellers can’t short, Tether warrants due soon
While short sellers have basically been unable to find affordable shares for shorting, the value of the company has continued to rocket upward since September 25. There’s been no identifiable reason for Stablecoin Development Corp to go up in value so quickly.
Four days after the company saw unusual trading activity it filed with the SEC to say that it had no idea why it was occurring or who was behind the trades.
The company also stated that it “does not believe corrective actions are appropriate.”
Meanwhile, Tether has warrants related to Stablecoin Development Corp that will be available to exercise in mid-October.
These warrants which had more or less been a write-off up until this point suddenly appear far more valuable.
It’s also safe to say that Stablecoin Development Corp is no longer facing any delisting dangers from the NYSE American.