What happens in the next month should prove critical Well, forget about any of my previous thoughts of support levels. Frankly, I feel TS.B wants to test the old lows of 2017 - and probably should!
THE reason why there was a bounce from last years lows was because FFH bought a large block of stock at $1.25 and everyone got giddy thinking the company would go private, in short order.
Notice that there is NO support of the stock at this time and only a relatively small volume of sell orders has knocked the price down over the past 6 trading sessions. Absent also is any buying from insiders.
Honerich crying to the Globe and Mail about how desparate TS.B is does not help matters and you are correct by saying that this is probably posturing in advance of the federal budget - but it does not help the stock in the short term.
All eyes are on Q4 earnings, which are suggested to be in the + category. If not, the stock WILL test old lows or lower, in my opinion.
If there is no good news in the federal budget and poor Q4 numbers the A shareholders SHOULD realize that FFH is the ONLY way out and they SHOULD accommodate selling a majority share to FFH. Also, what if FFH gets tired of all this and decides to sell in the open market. Let's not go there.
The annual shareholders meeting should be fun. Can't wait.