A few thing to mention Firstly, the trading in the US is interesting today, While Ballard, Plug, and FuelCell have backed off substantially from their highs, Xebec has not. You might pont out that the volume makes this observation meaningless, but if you're following closely, you'l see that there is pennying going on the the bid side. While there have been no transactions, the bid has gone from $6.50 to $6.51 to $6.63, and now shows 1000 at $6.55. The "others" down there are now recovering. If we see those stocks recover, we may even see Xebec close at new intra-day highs. This would conceivably lead to an open in Canada at $9 or more. Now, the bid in the US is suddenly $6.72.
Secondly, I believe the probability of a gap tomorrow is, oddly enough, increased by the fact that tomorrow in the last day for tax-loss-selling in Canada. You might wonder why that would matter, when everyone who owns Xebec has a gain on paper. How can this date be significant?
Personally, I'm of the mind that it is. The reason (my reason) is that I believe in a self-coined phenomenon I call tax-gain-taking. This comes after the last day of tax-loss selling. Why would an investor sell Xebec tomorrow, when selling it on Wednesday instead would defer their taxable capital gain liability untill a year from now? I believe that this "Phenomenon", if it exists, could contribute to a vacuum of overhead supply tomorrow, thereby amplifying any opening gap, if there is one.
Then there's the very real possibility of pre-opening news tomorrow, which could lead to an exciting close in the States today.
I also have some thoughts on the subject of selling any of this stock, which has aroused some debate on this board. I believe this debate started when I raised the subject of diversification.
I'm sure most of us here think Kurt Sorschak is pretty smart. Prabhu is no slouch either. Remember that Kurt sold 2 million shares, and Prabhu sold 400,000 shares at $3.60 on June 26th, almost exactly 6 months ago today. People wondered at the time why they did that. Do you know why? It wasn't that they thought the shares would go down, they knew they weren't going down. Rather, they saw an opportunity to diversify by selling blocks attached to an offering. Do you think Kurt cares that he left $10 million on the table? or Prabhu cares he left $2 million? Probably not much. Kurt still has 7.508 million shares and Prabhu still has 1.3 million options.
If some people here are completely overwhelmed by how much they have in Xebec, they can hardly fault themselves for lightening up even a tiny bit here, $5 higher than those two sold 6 months ago.
There's one last lesson here. Louis Dufour sold all his shares. I did in, fact question, the thinking behind his decision at the time. I'm sure looking back, Louis feels more regret selling everything than Kurt and Prabhu feel having sold some.