I've Seen Just About Enoughof this nonsense! US market open for even part of the day, and TD comes back. With CIBC selling a bit too. Lots of the crosses, etc. Then, moments ago, a sale from 7 of 100,000 at 2.62 (asking price) with Scotia stepping in quickly to grab this deal. Then, a minute or so later, TD 7 steps back in to buy 100,000+ at 2.66. And, moments later, TD sells again at 2.62. And, now, they will soon be having to buy this similar amount a few times more as they are now 200,000 shares more on the sell side and they need to even out the totals by the close. Should be supportive to the price at least into the close. Now, that really makes sense... for anyone who wants to take advantage of this buying opportunity, like those of us at Scotia, but it is makes total nonsense to buy 900,000 at .02 higher, for a mere $20,000 loss on the share price and at least a similar or double this loss on the transaction fees. Make sense to me, too. Not.
Not clear what IIROC thinks, but they are looking at this. Not that their or FINRA's findings will actually affect what has already happened in any substantive way.
Not clear what management will do, either, though I have heard they are as frustrated as we are. And, they are the only ones who can get a grip on this again.
The only way out of this manipulated trade is NEWS. Yesterday.
And, kudos to those at Scotia and others who see the buying opportunity, as I do.