Why we see such huge buying from CIBC worldmarkets John Mastromattei (twitter: @LamboJohnny) has done masterful work sleuthing trade data to determine that we are currently seeing very large Aphria short covering on the NYSE, one of the main reasons the company has rallied over the last 3 trading days.
We can confirm this because CIBC is the cross border broker between the NYSE and the TSX.
So for example, if there are buyers of Aphria in the US and there aren’t enough shares CIBC will acquire them on the TSX and sell them on the NYSE.
CIBC has been seeing large volume in Aphria recently, telling us cross border short covering is going on en-mass.