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My theory is. AP launched the code 11.59 in 2019. A lot of people bought these to add spend history in the hopes to get allocated a RO. Better not to flip right away. Wait a couple of years. Covid hits. Watch market goes crazy. Now things ate normalizing. Prices are correcting and falling off a cliff (in this case). So better to cut your losses and here we are. Trading at almost 40% discount. But again. At these levels i think those offer tremendous value. But are there enough people out there that love the code 11.59 to offset this supply? Time will tell
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