Trading just above 30 day avg $2.76My thoughts,
Colonial Trending up over last two months averaging $2.64 on 14.4ml shares and opened today @ $2.85.
Past week Nov 19th-26th average $3.20 1.08ml shares traded.
Due to what seems to be a lack of free trading shares trying to buy or sell 100K shares is now resulting in extreme price changes of +/-0.20 and +/-5-10% in trading price. In the past 200K shares resulted in the same change in share price.
My positive guess more shares have moved into tighter long term investor hands.
Its also possible that large share holders have borrowed against there share holdings to lock in the higher average trading price called equity monetization. Limiting there down side -5-10% while still able to have some upside min amount is over $2ml to be cost effective. These arrangments offered by large banks CIBC, RBC could account for there oversized trading activity and the need to hedge the positions causing a further squeeze on liquidity. I do not believe these arrangments need to be declared in Canada as share holders keep all voting rights and they are not recorded as short. But most likely not the case as this is normally only offered on liquid easy to borrow stocks. CAD is not easy to borrow nor is it very liquid.
Past two months high $3.73 Oct 25th and Oct low $1.34 Oct 1st.
November high todate is $3.55 Nov 22nd and Nov low of $2.11 Nov 3rd.
November 1-26th average $2.74 5.85ml shares traded.
October 28th-Nov 26th average $2.76 6.7ml shares traded.
November 1-15th average $2.55 3.6ml shares traded.
October 1st-31st average $2.57 8.6ml shares traded.
October 1st-Nov 26th average $2.64 14.4ml traded.