Stock Manipulation? - What is going on here!We get good news and price drops after intial surge to below Friday close. We have a short position that went up 900k shares in 30 days between end of Aug to end of Sept, with no price change. Who short trades approx $14M worth of shares with no visible profit from the short and no indication of being covered. Anyone who is a self respected Shorter - in it for the money could have blown this stock down to $12, given the weakness in Sept, and could have made a pile of money. Yet they didn't do it!
Every trading day we have Morgan Stanley - CIBC Global Mkts and a couple other culprits trading probably 70 - 80% of the volume between 2 or 3 houses back and forth, with almost no change in the trade size of shares. They just continue to be bought & sold by the same houses day after day with little changes in price, and the short position continues to grow every time we get a positive price change. However, it is always based on enough to bring the price down near to prior days close. There is always a push right at the close of the market.
I am wondering if there is some kind of collusion going on, which will ultimately screw the s/h out of deserved gains. This thing smacks of the same trading patterns that gold manipulators just paid a $1Billion fine for last month. I have been a significant S/H in this company for a very long time and am only interested in seeing success. However, I am finding it harder & harder to get excited about anything with this company when I see the lack of communication from the company to the S/H's over the years, and this type of curious market conduct with no reasonable explanation.
If this is somehow being orchestrated for a sale, I am all over it. However, if not perhaps the TSX should investigate the trading patterns of late for legitimacy.
I hope I am not the only one out there concerned about what is going on, when we have no less than 3 Analysts out there touting suggested valuations of $21 - $26/sh and all recommending a buy. Yet the share price stays steady at current levels even thought the Analysts have commented on the increasing reserves and being a prime buyot target.