Big SellersGreetings, I have a fair sized stake in FXC and I have been following the trading over the last few weeks. I have been trying to understand who/why investors would be selling so aggressively at prices at or below $4 when the NAV appears to be well over $5. Back in Nov 2019 when FAX went public and did a large offering (IPO) at $4.50 the 2 lead dealers were CIBC & National Bank. Those units included founder warrants exercisable for 2 years at $4.50 which eventally expired worthless. I made a lot of money over the years through Sentry Investments and have faith that leadership group of Fax will do well in growing the NAV of FXC over time. They cannot control the trading price of the units. The big sellers over the past few weeks that drove the price down from about $4.25 to the current level have been through dealers CIBC & National Bank. I am guessing that these units are being sold by frustrated investors that participated in the initial offering. Sooner or later they will finish their selling. I have been adding at these levels. It seems like a great opportunity to buy.
Cheers!!!