GREY:XEBEQ - Post by User
Post by
Hesiod07on Jan 19, 2022 2:12pm
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Post# 34333893
No bid
No bidThere's nothing fundamental about this move. US hedge funds and others know there is absolutely no visible support for the stock and they are basically mounting a bear raid. Combined with the existing structural short position, and through a sharing arrangement with their prime broker, they have additional access to stock to short and/or front their shorts by selling in the market. The stock price usually recovers late in the day as they cover that day's shorts. This is lucrative business for both the fund and its broker making 5-6% daily, and a number of other Canadian stocks have endured the same fate for protracted periods of time. The SEC is hardly interested in hearing about it.