CIBC bought 19 million net shares @ ave price of $5.056 I have been analyzing the house position of OGI from 1st till yesterday. During this period CIBC bought 19 million net shares at the average price of $5.056 on TSX. This cannot be only short-covering because it is more than the total Canadian short position. The total Canadian short position is 9.2 m.
Don't know if CIBC doing arbitrage trading buying in the Canadian market and selling in the US. There is usually not much spread and different currency involved. Volumes on both exchanges are about 10 times more.
CIBC is the biggest Canadian HFT. They bought 63 m sold 44 million shares. This covers retail, HFT, and other institutional transactions. Don't know the ownership and purpose of those purchases but the big spike in price came from CIBC buying. Now if this is a long trading position, they will run up the stock to offload or it could be a long trading position in a sector and getting ahead. I am just speculating there could be multiple owners and reasons. If you want to understand what happens to the stock read the tape.
If CIBC went long on this stock they have the muscle to run up the stock. The show is just starting and there will be a lot of volatility. Based on the charts safe entry point is around $3.00 area that is where the spike started, I don't know if it will get that low. Around 3 bucks and lower, I will be all over it. I think this sector is going into a bullish trend. You need to have a plan for every situation.
Broker Positions for C:OGI Broker #79 from 20210201 to 20210211 | 20210201 | 1,033,882 | 2,407,764 | 2.329 | 1,238,807 | 2,869,080 | 2.316 | -204,925 | -204,925 | 461,316 | 461,316 |
| 20210202 | 2,521,320 | 6,095,035 | 2.417 | 1,840,427 | 4,421,401 | 2.402 | 680,893 | 475,968 | -1,673,634 | -1,212,318 |
| 20210203 | 6,043,474 | 17,886,831 | 2.96 | 4,481,638 | 13,258,481 | 2.958 | 1,561,836 | 2,037,804 | -4,628,350 | -5,840,668 |
| 20210204 | 3,046,162 | 9,418,743 | 3.092 | 2,633,886 | 8,071,648 | 3.065 | 412,276 | 2,450,080 | -1,347,095 | -7,187,763 |
| 20210205 | 1,859,187 | 5,635,490 | 3.031 | 1,967,366 | 5,939,537 | 3.019 | -108,179 | 2,341,901 | 304,047 | -6,883,716 |
| 20210208 | 6,814,269 | 26,148,092 | 3.837 | 4,193,365 | 16,387,498 | 3.908 | 2,620,904 | 4,962,805 | -9,760,594 | -16,644,310 |
| 20210209 | 11,239,864 | 60,898,987 | 5.418 | 7,845,332 | 42,912,451 | 5.47 | 3,394,532 | 8,357,337 | -17,986,536 | -34,630,846 |
| 20210210 | 18,598,124 | 133,762,830 | 7.192 | 10,120,174 | 71,748,413 | 7.09 | 8,477,950 | 16,835,287 | -62,014,417 | -96,645,263 |
| 20210211 | 12,573,585 | 74,957,153 | 5.961 | 10,336,401 | 60,177,586 | 5.822 | 2,237,184 | 19,072,471 | -14,779,567 | -111,424,830 |
| TOTAL | 63,729,867 | 337,210,925 | 5.291 | 44,657,396 | 225,786,095 | 5.056 | | 19,072,471 | | -111,424,830 |
Short Positions for OGI
| T : OGI | 2021-01-31 | 9,260,191 | 974,432 | 232,108,989 | 3.99 |
| T : OGI | 2021-01-15 | 8,285,759 | 2,107,277 | 231,984,719 | 3.57 |
| T : OGI | 2020-12-31 | 6,178,482 | -818,906 | 231,984,719 | 2.66 |
| T : OGI | 2020-12-15 | 6,997,388 | -1,093,257 | 231,984,719 | 3.02 |
| T : OGI | 2020-11-30 | 8,090,645 | -778,646 | 231,984,719 | 3.49 |
| T : OGI | 2020-11-15 | 8,869,291 | 582,059 | 231,984,719 | 3.82 |
| T : OGI | 2020-10-31 | 8,287,232 | -526,215 | 194,609,719 | 4.26 |
| T : OGI | 2020-10-15 | 8,813,447 | -342,023 | 194,511,061 | 4.53 |
| T : OGI | 2020-09-30 | 9,155,470 | 999,489 | 194,511,061 | 4.71 |
| T : OGI | 2020-09-15 | 8,155,981 | 542,497 | 194,511,061 | 4.19 |
| T : OGI | 2020-08-31 | 7,613,484 | -466,064 | 194,507,061 | 3.91 |
| T : OGI | 2020-08-15 | 8,079,548 | 1,465,644 | 194,507,061 | 4.15 |