RE:Thoughts on Orion Shares Just to rebound about 17$CAD being "cheap": my opinion is that the deal involves two parties : the seller and the buyer(s) whom must have been in contacts weeks before the announcements.
Looking at the chart, we were below 17 just a month ago. Let's imagine they agreed at that time about the transaction price..
Then, when you have a huge amount of shares to sell, you must be ready to sell them at a discount. Additionnally, if you could sell them in the open market, you would also impact negatively the price. And when you have still a huge amount of it...
For the buyers, 17 is great as buying in the open market would have push the price up.
The price could also be an "average price". i.e. 3 last month median/average price and so on...
So 17CAD is just an agreed price between two parties.. a private deal. Could have been 15 or 20 depending of when they agreed to go forward.
The question is how this will be seen by the "market" : focusing of a main shareholder "selling" or "new shareholders" coming in. Shoud we think "Orion is selling at a discount" or "new shareholders happy to be in at 17"
Could it be that some institutional were interested in taking a positions in VGCX but weren't happy with the level of liquidty (shares available in the market)... The PR is focusing on that part... increased liquidty...
Let's see reaction... Yesterday strong day could be related to the afterhour press release...or not :-)