Schulich, Perngrowth and BirchcliffSchulich’s PGF intentions are well known to his friends in the oil patch; and he has many friends, -many of them wealthy. Those that may not want to join him in the PGF venture may satisfy themselves by filling his empty shoes in Birchcliff. Standing in for him in that manner would not only reward them with $’s but serves his purposes too.
Pengrowth scraped bottom at .68 off a most remarkable downward trend line. But you know how it is, add in a little greed and “let the trend be your friend” and suddenly Schulich bags all those shorts at a ridiculously low bottom. Got ya!!! In about a month Pengrowth practically doubled in share value. But the artificial low created by the surfeit of shorts made netting them easy. At one fell swoop, Schulich creates value in 2 companies.
I hope he demands the certificates for his purchased shares be placed directly in his hands. That way they are out of play and cannot be borrowed by short sellers, unless of course naked shorting is still allowed. That really would be disappointing.
I’m kind of partial to collecting scalps, at least when they’re short sellers. Good clean fun don't ya think?