RE:Freeland chides Air Canada, says CEO should speak French I figured out why I am so upset by the behavior of CF.
Several politicians including the PM had already sounded off on this issue and it was addressed. The market reaction this morning was to ignore it and move on. Stock was up over $.40 in the morning.
She sounds off at lunchtime and the stock drops $.60 in 3 hours. That's $214,000,000 of market cap she just wiped out.
She made the point that her motives were awakened because the government is a shareholder. Or was this brought to her attention by someone who hoped to gain by this scenario.
Short sellers have been getting squeeezed. And she hands them this and screws over shareholders.
At the very least this was a very irresponsible comment and is a classic example why governments are crappy shareholders.
I know I said enough the first time but to me, this facet of the story ($214000000) is a big deal.