The $PURR Read · The backing held. The multiple did not. Good evening everyone! PURR trades at 8.62 Thursday afternoon, down 10.4% on the day while HYPE is down 4.8%. The stock now trades at about 0.79 times the value of the HYPE and cash behind each share. On the same Thursday measure a week ago, it was about 0.86. The company’s dashboard this week: · HYPE held: 38.8 million, from 38.7 million · Fully diluted shares: 301.1 million, from 301.2 million · HYPE per thousand shares: 128.9, from 128.5 Both changes are 0.1 million, the smallest unit the dashboard shows. The share count did not grow, so no new stock was sold on net. Tokens per share have now risen three weeks in a row. The two parts of the price: · The backing per share: 10.85, down about 4% from 11.32 a week ago, with HYPE at 77.79 · The multiple investors pay for that backing: about 0.79, from about 0.86 PURR is down about 11% from last Thursday, 9.69 to 8.62. About a third of that came from the backing and about two thirds from the multiple. The dashboard also shows a second figure: 10.03 per share after an estimated tax on the unrealized gains in the HYPE. This series uses the figure before that tax, as every prior edition has. No filing or company statement has been reported to explain today’s drop. The stock gapped down at the open, from 9.62 to 8.96. Part of the move tracks HYPE. The rest is unexplained. The 12.02 floor: the company cannot issue more than 19.99% of its shares below 12.02 without shareholder approval. Shareholders vote Nov 4 on removing that limit. PURR sits 3.40 under it. The HYPE behind each share has not shrunk. What investors pay for it fell again. A description of the company’s disclosed numbers, not a forecast, and not financial advice.