Arbitrage profits made...Juniper punched out 51 million shares though an arranged cross trade before the market this am...
Very good new IMO, although looking at the screen you'd question...
It's 12 noon and Baytex has traded over 33 million shares in the open market...my guess is that a lot of arbitrage profits were taken this morning as the deal was done at $4.125 US with the market starting the day at $4.41 US...That's as much as 28 1/2 cents US profit, which would have been a profit of approx 7% for the early birds exiting....
This move will put shares in stronger hands and set Baytex up for a nice return ahead...The shares price should easily recover in the coming days IMO with crudes strength.