RE:Cannacord GenuityNo offence but your comment doesn't make sense. The game is the investment bank shorts the stock before the bought deal is announced; at a price higher than the bought deal pricing. The bought deal is then announced at a discount and stock price drops below the price at which the bought deal is negotiated. The investment bank then covers their short position after the stock price drops below the bought deal price. If the stock doesn't drop below the bought deal price then the investment bank buys into the bought deal eliminating the risk of a price increase when the bought deal is annouced.