RE:Massive manipulation/shorting continuedIf I had a margin account and I was allowed by my broker to short international penny stocks, I'd probably be doing the same thing.
Obviously the last release of drill results was unimpressive to the market and the awful timing of starting legal drama with SEA right near a PP shares free trading date just adds insult to injury. Perhaps if management truly believed in this project, there would be a big slew of insider buying during this major dip that would make shorters think twice, yet there isn't. Speaking of which - did you know that KK has not purchased a single share on the open market according to SEDI? That's right - all he owns of TUD as of a few months ago are his few million free options.
Larry60 seems to have it right about the arbitrage with the OTC short position. Between the 8/15 IIROC short interest report to the newly released 8/31 report, TUD shorts on the TSX have gone down by half a million - or well over 90%, which perfectly coincides with the predicted drop in the stock price after the PP shares became free trading. The volume on the TSX is SIGNIFICANTLY higher than on the OTC, and the OTC usually just tracks the TSX share price to the equivalent U.S. dollar exchange rate anyway plus a spread. If MMs were truly trying to inorganically manipulate the share price lower, they would be doing it on the TSX, not the OTC. No one has to have had to rely on manipulation to make money shorting this stock in thel last three months - the piss poor drill results and managerial decisions have done it for them.