RE:I was right about one big buyer using anonymous to buy. Sundial ain't getting anywhere new a majority stake at current prices....I can pretty well guarantee that....
They have a small piece....fine. They want a bigger one....pay the piper. :)
Mgmt ain't letting this company go for a song.
PUNJABI wrote: It was very clear from the buying pattern that there was one buyer accumulating. If this buyer was not buying you would not have seen this stock run up so fast over $3.00. There was a stonger possibility that this was takeover attempt.
I looked at the potential candidates. Sundial was on the top and one of the strong possibilities if his was a takeover attempt. Because they are loaded with cash and are known for buying out companies. A very reckless company that has burnt and wasted huge amount of cash so far. If this is most likely a takeover attempt from their approach. They have been buying shares when the stock was under $2.00. Their average is $2.67. Most of th shares they have bought were under $3.00.
If this is not a take-over attempt then they could have easily bought the shares through the last $2.05 financing or could have approached the company directly to buy a big block of shares for investment purposes at a much cheaper cost by signing an agremment that they would not attempt an hostile take over. Why buy so many shares in the open market and pay a lot more ?
Now they have ended up paying up a lot more in the process because of potential takeover.
This story is not over yet . Not sure what will be their approach and timelines. . Now that they have made the legal disclosure they can continue to buy shares. Make and attempt to buy the compnay by contacting the management. If they do not agree then they can buy shares in the market and ask other big shareholders to sell them their shares at a premium. There can be number of things that they can do now.
The cat is out of the bag now.