Who's selling??? Everyone but dumdums!!!!!!Where's the discussions of the October financing debs being converted to expensive shares, coming off lockup this month and selling?
When Aurora prints paper, Canadian financial institutions like Canaccord buy it, sling it to their clients, and ask for more. The October financing was announced as a $50 million bought deal, that would generate more than $143M for Aurora once the warrants were exercised.
By the end of the week, they had maxed out an extended version and added a sidecar deal on the same terms. The warrants were in the money right away thanks to the Canopy generate bull run.
On paper that October raise generated $169M, and they were just getting started. The value just kept expanding as they diluted, so Aurora doubled down.
If the dumdum market likes a private placement at $3, they’re going to love a convertible debenture at $5. Back to the well they went for another $200M! They forced conversion on the old in-the-money debs while they’re at it for another $115M. Why not? Deb holders are seeing insider sell, Canimed holders sell and are rushing to the door!
Watch that $200m being converted to expensive shares. There's a massive ceiling here. The selling here isn't over dumdums! In the money holders are the ones taking profits here.
And that's why the charts look like garbage on ACB.
Now stop fighting all you Freds and Barneys and start reading outside dumdum land!