Relentless selling by BMOAfter a number of different firms/people took out the fifth block of MCB stock that had been offered by BMO in the mid eighty cent range, they came back with more. Another 70,000 shares offered for sale @ $0.85. This makes close to 500,000 shares offered by this firm over the last three months.
I think they are crazy and should be buyers at these prices... not sellers. However, who ever knows the real reasons why and when people sell??? I am a buyer for sure! I now make the book price of MCB at $1.42 with MY PROJECTED 2022 sales of $46 million and net earnings per share of $0.22 for a ridiculous PE of 3.7. Very, very low. I only wish I had more money to buy every MCB share they are offering.
I think any deal that perhaps may be in the works would have to be for a minimum buy out price of $1.64 for every MCB share. And at that, it is still ridiculously very cheap. I truly feel a more fair takeover price for MCB would be $2.75. Remember it has been over $7.00 per share in the past. All in my humble opinion. Do your own investigation and see for yourself. MCB has a great website and investor presentation. Plus, see all the SEDAR filings and you may believe like me.
Angles