RE:A New Chapter?TheBridge wrote: This share price drop in the last minutes of the ending of the year has me wondering as to the motivation. Is it people who over spent at Christmas and need money to make credit card payments? Could there be a little manipulation taking place here to scare the Nervous Nellies out of their shares? Could it be shareholders who are shifting their portfolios to crude shares whose prospects look extremely attractive going forward? Is it worry that the Omicron is goiing to damage our provincial economy and inspite of the currrent trend with crude prices? A remarkable to time IMO to pick up some more shares for those who have the cash, while I have to sit it out.
Hello Bridge.
After sniffing around, this looks like "indiscriminate" tax-loss harvesting that has been left for the very last day of the year (settlement is trade date +2). Believe it or not, there are still many investors and money managers who leave these transactions until the last day of year-end.
Over 50% of selling came from RBC. I have worked for RBC DS. The money managers there have 1 day per quarter when they are permitted to transact in their personal accounts or client accounts at zero commission rather than pay regular cost. Either today is that zero-comission day or a few procrastinators across the country left their tax-loss selling for the last trading session of the year.
You have to also remember that tax-loss harvesters are often not very sophisticated; they see value in carrying losses forward but they do not see the fundamentals of this company improving. Looking at the income statements and balance sheets, we know that Gamehost continues to improve its financial health. We are close to the end of the pandemic. We are close to a dividend announcement. Plenty of reasons to be buyer at these prices.
It's amusing because the sellers will be watching the share price crack $10 next year after the world learns to cope with endemic. They will have their precious capital losses and the shares they sold will be +50% and paying dividends.
Have a look at depth. Larger supporting bids with fewer shares offered for sale.
Same story as before. Doesn't take many sellers or buyers to steer this ship 5% in either direction.
This is usually when I suspect that the Kasking has had some involvement but today just looks like 10k shares were thrown out the window by people who value their losses over the growth potential of their securities sold.
The story for 2022 will be fewer covid hospitalizations with more people becoming infected with the wearker omicron. If omicron is the early stages of the endemic, people should be buying GH by the fistful.
Level ll Quote | Bid | Ask |
| Price | Total Size | # of Orders | Price | Total Size | # of Orders |
| $6.70 | 200 | 1 | $6.80 | 3300 | 1 |
| $6.69 | 900 | 2 | $6.99 | 1200 | 1 |
| $6.68 | 6000 | 1 | $7.00 | 5600 | 1 |
| $6.66 | 5000 | 1 | $7.19 | 100 | 1 |
| $6.65 | 500 | 1 | $7.25 | 100 | 1 |
| $6.63 | 10900 | 3 | $7.40 | 500 | 1 |
| $6.62 | 500 | 1 | $7.50 | 2000 | 2 |
| $6.61 | 700 | 1 | $8.00 | 1700 | 2 |
| $6.60 | 200 | 1 | $8.15 | 200 | 1 |
| $6.59 | 5000 | 1 | $8.50 | 1800 | 1 |