RE:unwinding?Interesting enough house 053 only sold to house 007 four times today. Also, the last 500 share sale by house 053 was at 3:58. It was a single trade going into the close. Prior to that the next 053 sale was 3:53.
As for the hedge fund unloading, I'm wondering if the hedge fund shorted the 10M shares purchased by azValor out of the public market on Sept 18th 2018. The insider report shows "10 - Acquisition in the public market" for the Sept 18th 2018 acquisition yet the TSX doesn't show the trade. What I do find unique is the MND volume for Sept 18, 2018 is doubled on stockcharts.com (MND.TO symbol). It shows a volume is 22.629M sharesof MND.TO traded on the TSX.
If I'm right, there is another 1 to 2 million shares to come out on the short. If the average profit is approx. 3.5 cents per share over the duration of the short (which isn't complete), this equates to approx. $350,000 CDN in profit. This is using the September 18th close of 14 cents and approx. average profit of 3.5 cents per share. The short could have been taken on the high of the day of 14.5 cents.
The $350,000 profit, from a 10M short, could buy 1.75M shares of MND at an average price of 20 cents. This is assuming the hedge fund is going to buy into MND's business plan -> that the company will turn around going into 4th quarter. Not a bad way to buy shares out of the public market using profits from 2 week short.
Given the ASK depth is pretty lean and House 002 has pushed the ASK down with tiny ASK orders (strathey seen before), the PPS could rise very quickly on public market buys and the possible disapperance of the House 002 ASK orders. Hedge fund will make money with MND's recovery. It will be interesting to see House 053 buying at the ASK.
This is my theory and I'm sticking to it. It makes sleep at night and reduces my G&T consumption.