Buckshot26 wrote: Yes and no. More a pattern of big crosses but I can't recall them being done on the close to tell the truth. Most of the stocks would have been on the Venture where there is no MOC or "last trade session", so it couldn't have been exactly the same in those cases.
In my experience they tend to be a precursor to a big catalyst. My gut lands on takeover because we are just to cheap imoto survive. Big tobacco, alcohol, pharma, you name it could scoop us up on the cheap and with their cash take what we've built and absolutely own the world market. I actually wake up every day and wonder how no one has taken an opportunistic stab at us yet.
Typically though crosses of decent size are quite normal and really don't mean much. These trades feel a bit different to me as they stand out and don't make much sense.
Why screw around with the MOC when they could have been done the trade during the day where they could control the price? Institutional traders tend to like to agree on a price, not leave it up to order matching variables you get with MOC. If they instead used the last trade session at least the buyer and seller would know the price of the trade and have a way out if needed.
So it doesn't fee llike a typical buy sell to me anyway.
Maybe they're adding to the volume which can play into mergers and acquisitions in that many are based on a premium attributed to the 10 or 30 day volume weighted average price of the stock.
The stock has been stuck at or around $9 for the last 16 trading sessions which is weird in itself. Look at a one year chart and this is easily the tightest range Canopy has held for that this many days over that period. Prior to those 16 days the stock jumped from the low $7's where it had a lot of volume
MOC is generally only used by Index funds for rebalancing which they do daily as people acquire or redeem their funds. This isn't likley as the trades are too big to be typical day to day adds and redemptions. I;m also not aware of us being recently added to to any index or maybe our weighting was adjusted up but it's not an end of a qtr so it's not likely any index has rebalanced.
Could be nothing, just seems like something is up.
investor1964 wrote: Buck can you please elaborate on that? Have you seen this pattern before?