RE:RE:RE:atm at workTouran77 wrote: Touran77 wrote:
vulcan123456789 wrote:
i exspect they are dumping atleast a mil shares per day...hence drastic price drops durring the day.. increased volume.. later in day perhaps buying some back to support the price and lesson the pain...atleast thats what itlooks like
1M daily would take 80 trading days to get to 40M$.
In my opinion they are selling closer to 4-5M daily.
Touran
Sorry even more.
That calculation was 40M CAD at 0.50 CAD.
40M USD at 0.35 USD would take 114 trading days.
Touran
Right so the math is:
US$40M divided by 0.35 USD equals adding close to 114.3 million shares in total. So 114.3 million divided by 114 trading days is about 1 million/day for 114 days.
Given you said Hexo is adding 4-5 million shares per day is highly doubtful as the market could not absorb 4-5 million/day of additional shares without the price catering at a much higher rate that it has. On NASDAQ the volume on Thursday was 9.1 million and Toronto 3.1 million and even if we don't adjust the TO shares equivalent to US, 4 million shares/day would equate to 31% of the total shares sold on both markets. I doubt that is happening or this stock would decline double digits/day.
So the shares outstanding as of April 11 was 458.17 million shares, add in a further 114.3 million and the share count goes to 572.46 million or now approaching 600 million. That is with the assumption that the conversion is at US$0.35 and could be more shares if the sp decline continues or less if there is a bounce up but the upshot is this stock has some serious downward momentum.