barrie, the seller tells us more information. Is it finance hedge which when finished is bulish or is it abandon ship by major investors which is bearish. Or is it uninformed which is guess work
Barrie too many variables but to keep it simple. One way In addition, pre announcement short sellers might be wall - crossed investors who decide to lock - in a profit on the securities they agreed to purchase, as the securities in a private placement are typically offered at a discount. Pre - announcement short selling , both speculation - induced and hedging - induced
I'm more interested in who the buyer is. They've been buying for weeks - millions of shares - and it's a Canaccord account.
Heavy heavy selling the last several days. Am i right. Financing at 6p? Maybe too high? 5p? Who knows but who is selling such large volume unless it is hedging the finance.
The buying on the TSX continues to appear to be a connection to an insider.
I've been watching this constantly and it seems to me that all that happened was someone noticed the arbitrage opportunity on the TSX and sold their shares to bring it down to the level of the LSE. Then it seems that someone on the LSE was watching the TSX and assumed that something bad happened so they started selling - just a little bit in comparison mind you, but enough to bring share price down. I believe it was just an arbitrage - I've been watching for weeks wondering why someone doesn't arbitrage it.
I don't know for sure about the identity of the buyer, but it appears to be an insider's connection who has bought a few million shares over the past week or two and is still buying today.
It appears that insiders are scooping it up. That big seller on TSX obviously had more to sell - they came back to sell more earlier. Now we're up to 3,188,100 sold on TSX today so far.
It appears to be down because someone did the arbitrage between LSE and TSX. You can't blame someone for doing the trade - easy way to make a few bucks.
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