Concordia Healthcare Corp. T.CXR.R

Name Change To Force Short Covering

[Onions19]

As mentioned previously on this board and detailed in the below link, shorts will be forced to cover their naked positions with a company name change and CUSIP change.

https://m.marketwired.com/press-release/united-treatment-centers-announces-name-change-utc-aquafree-inc-reflect-business-focus-1194729.htm

I didn't think the CUSIP would be changing since the stock symbols remainded the same, however, per review of SEDAR the new CUSIP # is 20653P

https://www.sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00029487

The old CUSIP for Concordia Healthcare is 206519

https://concordiarx.com/about-us/faqs/

I also find the timing of this announcement to be rather funny as only a couple days notice was given and it is changed the day before TSX is closed on the 1st for Canada Day then NYSE is closed on the 4th for Hotdog day. Strange that they did this on the final day of the month and not the beginning of the month as well.

[yycish1027]

Did some quick google flipping,  https://www.investorvillage.com/smbd.asp?mb=4143&mn=285556&pt=msg&mid=13388680  First time hearing this, thanks for sharing. 

[cavinsin]

CUSIP change can trigger short covering, but not likely, however, may forced covering of naked, short position, there may be shares that are sold but not delivered, I do know company was intensely trying to pinpoint individuals/company's that have sold naked shares. Don't know how many but I would not be surprised to hear about potential lawsuits by company against these individuals

[sunshine7]

I rather doubt that this is true or material. Name change was telegraphed well in advance and did not seem to affect short trend. Yesterday's trading did not indicate any concern by short interests.

[cavinsin]

Sunshine that's exactly my feeling they know this for some time coming, the only issue is if there is naked shorting, which I believe there is, which is actually illegal. That may have to be covered, Not really legal expert on this issue

[cavinsin]

MT has law degree I believe

[Lattice]

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[tag]

Morning Marc, shouldn't you be spending your time today covering your "Diamond in the ruff" short?