My head hurts
The 1st SIB for 34,883,716 shares went at $4.30/share and was over subscribed by 22,232,685 shares. Now I know Credit Swiss was trying for a buy and dump and probably many others. The SIB closed on May 22nd and by May 29th the day low was $3.33.
The 2nd NCIB for 8,879,302 shares went for an average at $3.67/share and closed on Aug 13th. By Aug 15th the day low was $3.03/share.
Now they are going for another SIB for ~14,705,883 shares at $4.25/share and the stock price pops up to ~$4.00/share.
If they are successful the remaining float will decrease to ~93,848,310 shares. So between Mittleman (25,410,079 shares) and Frischer (4,041,000 shares) they will potentialy control 31.38% of the company.
I'm not liking the fact that liquidity for me the individual investor is drying up and given the last 2 buybacks there has been a decrease in price as soon as they are over. Unless something else is going on my risk tolerance for a potential increase to $5/share is slowly eroding by the potential lack of liquidity.
Been long for a couple years but my gut tells me to move on.
But also it's been said not to let your emotions control your decisions. And at the same time you'll never go broke taking a profit so that's why my head hurts this morning.
Any thoughts on the future for Aimia?