Canadian Bank Pre-Markets are So Out of Whack...Does anyone know why this happens everyday?
It's moreso for Canadian banks than their US counterparts, but pre-market bid/asks are never indicative of where the share price is heading.
I'm not sure how or why these games are played, but it is highly manipulative IMO. It causes volatility and uncertainty as to why or how the shares will perform later on in the day.
Next week is ex-dividend and if the share price isn't much higher, it can make for an $0.87 hair cut, or not. Who knows anymore.