Cardinal Energy Ltd (Alberta) T.CJ

Explaining CJ's recent weakness

[highalpha1]

Cardinal's recent weakness could likely be explained by Nuttall selling his stake in CJ in May. Nuttall's fund was the second largest holder of CJ stock and his fund's most recent disclosure (see below) indicates that he no longer holds it. 

[Luckyguy777]

That is an interesting chart for sure.  Thanks for posting. I wonder how much of the fluctuation is simply from price fluctuation and actually doesnt mean buying or selling.  Or perhaps some is just a bit of rebalancing as Cardinal had appreciated quite rapidly it would make sense some was sold. Also, if the 2nd largest shareholder has been dumping and we have still held our price that

[highalpha1]

Yes, if Nuttall as the (former) second largest shareholder of CJ has dumped his position in the company, and the share price has remained over $3, this is a good sign as some overhang on the stock has been lifted. It also merits noting that as per regulatory requirements, Nuttall is only required to disclose his top 10 holdings -- he may have reduced his position in CJ since end of April without

[Backinblack1000]

This post has been removed in accordance with Community Policy

[Backinblack1000]

This post has been removed in accordance with Community Policy

[Backinblack1000]

This post has been removed in accordance with Community Policy

[highalpha1]

@BackinBlack1000: I question whether you're literature or not, as my original statement about whether Nuttall sold his position or not was unequivocally clear. I will quote my previous message for your benefit: "Third, there is no verifiable proof that he has completely sold out of his position in Cardinal. Read my original message carefully. What I said was that as compared to his

[kavern23]

Thanks for the visual picture highalpha.  Hopefully you and Jay Banks continue to keep posting, very intelligent comments you both have. But when looking at the April 30th, top ten holdings list...CJ and NVA probably made the most logical sense for him to sell to take his new positions in CNQ and CPG. What exactly were Nuttalls other options on the list to sell? He is up very big in CJ and

[Moemoney42]

Yes I agree Kavern the intellegent posts by Highalpha and Jay Banks and yourself are a welcome read, as opposed to a certain poster always needling anyone when they have an opinion of their own.. won't name any names but I think he's an out of work DJ.. LOL..