Athabasca Oil Corp T.ATH

What is going on here??

[Stampeeder]

I'm trying to shed some like on the latest price action. Can someone enlighten me? Which direction do you think this stock is going??

[indoubtgetout]

Unless there is some clarification of why the volume sell off that occured late today by the open tomorrow, ATH likely down another 20% plus.   Wouldnt be surprised if ATH traded down 50% when all said and done - again, should there not be public information to explain the drop today.  IT DOES SEEM UNUSUAL but maybe not.   ATH is dependent on WCS being higher and all

[lovehockey]

I don't think It was a sell off. There was a predermined transaction of 120 million shares @18 cents that happened on CHI-X-X. This triggered people dumping shares on other exchanges. I haven't seen anything like this happen before but I wouldn't be surprised if the stock rebounded to $0.23 at the end of the week. 

[indoubtgetout]

If what you are saying is TRUE then ATH should open higher than 23 cents tomorrow.  Somebody bought large and they didn't do it for a trade.   I am having trouble seeing what you are seeing so I will go wtih what you see and again, if true ATH should open at or higher than 23 cents tomorrow.   

[fellowship]

No it will not open higher because others have dumped stock today.

[lovehockey]

Well, the logic is simple. This is an obcscure exchange where ATH barely traded historically and 10 mllion shares are exchanged in 30 minutes? Clearly the buyer and seller predetermined it, likely a while back when it was trading in that range several weeks ago. 

[lovehockey]

Meant 120 million shares in 30 minutes. 

[ibribr2]

Makes perfect sense. On Dec 18 when equinor announced share transfer the price was $0.18 . Today it was actually transferred at that pre-determined price and noob traders panicked. Cheap shares for you and me and whomever else bought in with fast thinking!!!

[2020oilgamble]

This post has been removed in accordance with Community Policy

[lovehockey]

If what you say is right then the attack came from the same people. They may have had to dump several millions of shares quick in order to bring the prices down to $0.18 - $0.185 in order to legally complete the trade pre-determined to be @$0.18. Either way the stock was manipulated. Hoping that it means good long term for all of us. 

[ibribr2]

the big questions are 1) who bought/sold the 19.75 million after hours share block 2) how does the bond trades (25% above last trade price) correspond with these share trades?

[2020oilgamble]

This post has been removed in accordance with Community Policy

[Chris007]

Theres nothing "obscure" about it...its bascially a place for institutions to do large block trades... As for the the reasoning for said trade, we can only speculate at present, until more info is made public