RE:RE:Up 5% on 250k shares 1 hour after openLost interest in this puppy when I went away for March break, looks like its getting exciting again, just like many on this forum predicted.....overseas money managers getting involved.
This isn't a rumour Bob, Bailley Gifford reported on March 31st that they had purchased 10.5mm shares, likely at a cost of approx $60M. I believe they have to report 1/4ly.
Now these guys are a privately owned Scottish company (which makes me feel even better being Scottish!) and they manage $322B CAD, no, I did not mistplace a decimal there.
They are very active investors so they hold a relatively small amount of companies and really get involved, approximately 200, so an average investment for them would be about $1.6B CAD, now you are starting to get it right? These guys don't bugger about!
You can bet the 10mm shares they paid $60mm Cad for prior to March 31st isn't their full fill and they are obviously still buying. Actually, I would posit that since they are interested in VLE and it's cap is only $475mm CAD (1/3 rd a usual investment size), there isn't an amount of shares that these guys wouldn't have appetite to own.
Where these guys stop at is anybody's guess, but I would say that this stock that was "dead" money until Q3 just got shocked pretty hard by the paddles and is alive and well.
Game on, there isn't only one large international fund interested in this you can bet...smoke = fire.
I assume there are some large energy companies circling as well.
The party has just started and the 4 or 5 guys who post regularly on here hit the nail squarely on the head when the called this 3 months ago.
Good Luck and enjoy the ride!
Crave