Record one-day volume/down 50%. Something is Fishy as Hell! As of Dec 31, 2021, CGX had 334,509,000 shares outstanding.
Frontera owns 257,475,469 Common Shares on a non-diluted basis (representing approximately 76.98% of the issued and outstanding Common Shares on a non-diluted basis) and 285,892,120 Common Shares (~85%) on a partially-diluted basis.
Simple put, there are only like 48 million shares that are actually available to trade, since Frontera's share amount are essentially frozen.
In todays volume, close to 12 million shares on all exhanges have already occured (or ~25% of all potential shares not owned by Frontera) and represents the largest one day trading volume in company history.
So please tell me... what exactly do these insider money managers know that we do not? 25% of all available shares trading hands, in a coordinated move 50% downwards, makes absolutely no sense to me. Something is seriously amiss.
If this ever does rebound to $2 CAD, I am selling out and never looking back. Its one thing to trade a stock with risk (joys of penny stock ventures)... completely another to trade a stock with blantant manipulation aimed at fuc*ing the real retail investor in broad daylight. I seriously hope the securities commission blasts CGX and Frontera management for today's actions.