WTF-specfic drop
The weird drop is likely just WTF-specific trading since IFP and CFP didnt fall.
-Also, it should be painfully clear by now that WTF shares do not move based on the futures price. If they did then WTF would have gone up alot more by now.
-It is also not related to dividends. The size of investor needed to push up the price wants captial gains, not dividend income. Nobody with big money in WTF wants a big taxable dividend. WTF very unlikely to pay a big dividend after filing a $2 B shelf.
Likely reasons for today's drop:
a) someone with a 500k + share position wanted out for whatever reason, maybe a margin call, maybe a better opportunity, got spooked, whatever
b) WTF is about to price a secondary offering at around these levels and their bankers pushed it down so they could do it at this lower price. If so, expect a press release very soon - maybe before open tomarrow.
c) Something related to the annual meeting yesterday.
I hope it is not door B. WTF should not be issuing new equity. It would be especially insulting after buying back shares in the NCIB. So hopefully it will just be existing shareholders selling, or a big debt or preferred share issue.
As long as they don't issue new shares then the price should bounce right back.