RE:RE:RE:RE:RE:RE:House 53 is taking us down - blew through 9.5 centsHouse 053 had 9 sale orders today. There was no 500 share orders. Most orders were 1000 shares with two at 5000 and 8000 shares respectively.
House 053's last sale trade of the day was at 1:59PM to ... drum roll ... to House 007. This is 2 hours from the close. I'm wondering if the PPS dropping below 10 cents has effected the trading algo of House 053. It will be interesting to see how House 053's trading behaves when the PPS drifts above 10 cents.
It should be noted that trading algo's are written by humans to make money - the end goal. They don't necessarily have to follow market conditions like POG.
I believe House 053 is working on behalf of a hedge fund to short the stock while one major institutional investor unloads its position. They know the POG will minimal effect on MND's down drafting PPS. I believe the short position was taken at least three times. Two of those times correlates to large block trades on April 30 and Sept 18 involving the same institutional investor. The third short postion was probably last year with the Cerro flooding, or whispers at the old boys club that a institutional investor was unloading a position in a TSX stock.
I believe the institutional investor that I speak of is Cambridge Global Asset Mgmt. Their 10% status was removed on Feb 9th 2018 as highlighted in a Early Warning Report. I suspect they have been dumping shares for at least a year.