OTCPK:NWKRF - Post by User
Post by
TopMJplayson Feb 21, 2018 10:30am
463 Views
Post# 27593665
Buying Opportunity in HIP
Buying Opportunity in HIPI will say this but it needs comfirmation through a house position list. If this was indeed a cross, which it looks like it was, it is very likely the CMED shares being crossed to a willing buyer. The discount (@$0.91) is likely what the buyer was asking for to take such a large position. I'm curious who would take so many shares in one shot, an interested buyer or future takeover?
If management is smart, and I think they are, there will be an announcement shortly saying that CMED/ACB is now out of the company (or it may come from ACB directly to say they've raised cash through a divestiture).
So in fact, this is a good event because it removes the overhang of shares that ACB clearly didn't want (or they would have made an offer for HIP while pursuing CMED). IF that overhang is gone, 24 mill shares sounds about right, then the selling pressure should abate and the share price should rise.
GLTA