David Kwan and TD Securities Did The Right Thing David Kwan and TD Securities did the right thing in criticizing and downgrading Absolute Software being sold to Crosspoint Capital Partners for $11.50 a share, including a big downgrade from $16.00 US a share to $11.50 a share and stirp them of a Buy Recommendation as punishment for selling themselves short.
Based on current target price, Absolute Software should have been sold for no less than $17.00 US per share, not $11.50.
Christy Wyatt and Absolute Software are now paying the price for selling themselves short with big downgrades from TD Securities, and more could follow suit.
Lessons learned, don't sell yourself short, and especially not to the Americans like Absolute Software and Christy Wyatt did.