GREY:PNDMF - Post by User
Post by
jglowachon Mar 29, 2000 1:13am
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Post# 1676404
Pelorus $1.40 Placement
Pelorus $1.40 PlacementNormally there is a four month hold on common shares involving funding such as the $1.40 funding.The weakness in PN share price can be attributed to some extent to the fact that this is March end of the month which is also the brokerage industry year end. Essentially this means that all accounts have to be reconcilled and this results in selling pressure to cover outstanding accounts.PN is a thin trader and the pull back was on light volume which means few share holders are selling.The closing of the deal on March31 is positive news and should result in the stock price moving higher.I suspect we will see more deals in time and more installation of nav.aids at major airports. The purchase of the private co. adds a new dimension to PN and should prove to be very positive from a growth aspect as it adds to the range of nav. aid products PN will be able to install at major and secondary airports.