BreakersHi all,
It's very disappointing that the TSX has not adopted a circuit breaker system like they have on the nasdaq. When a stock falls more than 10% from the previous day's close, short selling is ceased and long sellers get preference to sell their shares into the market first. This is to prevent aggressive short selling and manipulation.
The tsx has stated that we do not have the need for such a measure in Canada. I disagree. I'm not against short selling, but in instances like these, some mechanism has to be in place to prevent a run on the stock.
Shareholders in any given company need to have some reprieve from such large moves.
AC will be ok. The price will recover. This is not the same company from 5yrs ago.
The company just had the most profitable year in its 77yr history. This year will be a little bumpy but the story remains intact. They will make up the currency fluctuations via surcharges as they were doing many years ago when the cdn dollar was in the 70ct range.
Once Q1 numbers come out, the perception of disaster will be over.