Vivint Smart Home: Another SPAC Warrant Arbitrage Play [Seeking Alpha]
Vivint Smart Home, Inc. (VVNT)
Company Research
Source: Seeking Alpha
Summary VVNT was a recent SPAC listing. It has warrants with an $11.50 strike price that trade below their intrinsic value. VVNT should be more stable than past SPACs like KERN, given its larger float and more established business. Evercore initiated a buy rating on VVNT with an $18 target. If Evercore's $18 target is hit, the warrants are worth intrinsically $6.50, more than 3x upside from Wednesday's closing price. Over the past year, I have written about several companies that came about listing through blank check companies known as special purpose acquisition corporations, or SPACs. Those include Repay Holdings Corporation RPAY Akerna Corp. The Peck Company Holdings PECK KERNW Vivint Smart Home, Inc. (NYSE: VVNT-WS should be trading at the stock price less $11.50. VVNT closed Wednesday at $14.11, so the warrants have an intrinsic value of $2.61. But VVNT-WS closed at $1.91, presenting a $0.70 arbitrage opportunity for anyone who can go long the warrants and short the stock. The r
Show less
Read more
Impact Snapshot
Event Time:
VVNT
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
VVNT alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
VVNT alerts
High impacting Vivint Smart Home, Inc. news events
Weekly update
A roundup of the hottest topics