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Morguard Corp T.MRC

Alternate Symbol(s):  MRCBF

Morguard Corporation is a Canada-based real estate company. The Company’s principal activities include property ownership, development and investment advisory services. Property ownership encompasses interests in multi-suite residential, commercial and hotel properties located in Canada and the United States. The Company owns a diversified portfolio of 178 multi-suite residential, retail, office, industrial and hotel properties comprised of 17,566 residential suites, approximately 17.1 million square feet of commercial leasable space. The Company also owns a 65.0% interest in Morguard Real Estate Investment Trust and a 45.3% effective interest in Morguard North American Residential Real Estate Investment Trust. It also provides advisory and management services to institutional and other investors. The Company's subsidiaries include Morguard Real Estate Investment Trust and Morguard North American Residential Real Estate Investment Trust.


TSX:MRC - Post by User

Post by mariorizzion Jun 29, 2021 2:01pm
187 Views
Post# 33466908

123,000 share block traded by RBC at 1:31pm today.

123,000 share block traded by RBC at 1:31pm today.It was a massive block trade, categorized as a by-pass trade. 

This was conducted on the NEO exchange. 

My understanding is that this was a large block being distributed by one entity to its clients. The price was $130. In order to sell the shares to its clients at this price, the seller legally would have had to knock down all the orders to this price. This is what they did, certainly today, as they sunk the stock by over $8. 

Basically, this was all manipulation so that this institution could transfer the funds to their clients at $130 per share, rather than at a higher price. They slowly bled the stock down to $130, then executed the trade, and now it all floats back up.

It should be illegal, and it mostly is. It is hard to see if these guys did it legally or not. Certainly anybody who sold at a low price should be upset.
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