North American Palladium Ltd (New) PALDF

Metals & Mining Industrial Metals & Minerals

North American Palladium Ltd is a precious metal mining company. The company operates the Lac des Iles palladium mine located in Ontario, Canada, which is one of only two primary producers of palladium in the world. The group believes there is exploration upside near this location, and the limited number of primary palladium production areas also offers investors exposure to palladium prices. The company generates the majority of its revenue from metal sales, including gold, nickel, copper, pall

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North American Palladium Ltd (New) > Do you Guys Think This is just a big Cleanout

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Comment by astevenson Apr 06, 2019 3:19am

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Post# 29591262

RE:Do you Guys Think This is just a big Cleanout

It is difficult to say from where Friday's selling came, but the volume was high and the share price movement suggests that it was supported by the underwriters. Jim Gallagher is of the view that the aggressive selloff at the beginning of March was driven by algorithmic trading. Short selling was clearly responsible as shown by https://shortdata.ca/stock/PDL.TO/. I doubt any hedge fund would bet against BMO and RBC this time, so hopefully what we saw on Friday was selling from nervous retail investors. We must remember that yesterday's elevated volume for PDL, which caused the 10% drop, was still worth only USD 4-5 million.

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