RE:RE:Smoothwater Demands an Alberta Oilsands Shareholder Vote on Perhaps if the stock goes down over the next couple of days. TBH this isn't great news for the stock. This could mean a protracted battle for the remaining capital, as well as having to account for the break up fee should the majority vote down this proposal.
And if the stock pops above 15, of course Smoothwater would liquidate their position, as that is what they are looking to get in cash.
I don't see to much upside in the near term for this stock. Could be wrong, especially if oil continues it's bullish ascent. But clearly Smoothwater is going to fight tooth and nail against this proposal, from what I read. And if Bruce Mitchell also is opposed, then the deal probably won't go thru.
Disclosure: I exited my position at end of trading day on Friday.