Tou on Journey to $65 - see you later shorters IMO the shorters are having difficulty closing their positions. They work together to temporarily drop the price every day. A few shareholder give up their shares to lock in profits, but very few shareholders are exiting their positions so the share price quickly recovers with very few shares actually traded at the lower price. I believe some new institutional investors are picking up shares in anticipation of the special dividend and likely phenomenal 1st quarter results.
My guess is we see $65 when special dividend announced in next 2 weeks. There are always surprises in the investment world and like most Tou shareholders I hope Tou continues to be one of the best surprises on the TSX.
One of the greatest attributes of Tou is the small share float. 332 million shares is very small and it allows for larger dividends per share to be granted than almost all Canadian Oil & NG companies. Combine that with their huge land position, large production and extremely low debt and you get the makings of a great company.