Originally Posted by Seneca Pilot

Ok, all the SPAC stocks for the most part go out with warrants. They cost pennies and are exercised at, typically, 11.50. They are then sold into the market to keep the company for exercising them for the same pennies they were bought at. This stock will find support at 11.50 ish after all the warrants have been exercised and either held or sold for profit. If you are going to mess with RMO you may get lower prices. The range will be 11.50 to 18.00 as the stock typically has to be at or above 18 for the warrants to be convertible.

Long story short the big drop is the warrant holders paying the company 11.50 for the shares then dumping them on the market at the highest price possible. One of Buffet's biggest plays through the years. Pay a few pennies for a warrant and sell the stock for a few thousand percent gain in a few months.

Current warrant price:
RMO.WT Stock Price | Romeo Power Inc. Wt Stock Quote (U.S.: NYSE) | MarketWatch