$SPIR was just added to the Russell 3000. You can see the press release here. This should cause some forced buying, as it will need to get added to funds tracking the index.

I'll make a prediction that $SPIR will be back above $12 within the next month.

In March it was announced that Spire Global did a direct offering at $14.00 per share. Meaning, there was an institution willing to buy 2,142,858 shares of Class A common stock at 47% higher than the share price is now ($9.59 as of 5/29/24).

The direct offering had an option to acquire up to an additional 2,142,858 shares at a price of $14.50 per share until 100 days from the date of the closing of the offering (which would be July 3rd).

I don't know if the institution will exercise that option, but if they do, it will improve $SPIR's balance sheet by $31 million, which will likely be used to pay down debt, reducing their debt payment, and getting them closer to profitability (which is a huge inflection point for them).

My guess is the Russell inclusion, and the fact that there are institutions out there willing to pay $14 per share, will pull the stock up above $12 a share in the coming month.

The longer the timeline, the more confident I am, but Commonstock only allows predictions to be 1 month at the longest, so we'll go with that.