RE:National taken out @ $ 9.33. New high ComingPossibly another sign of an impending equity issue! The underwriters sell short to offset the shares they buy as part of the underwiting, particularly in a bought deal. I never completely understand the strategy, but I think it is a risk management strategy. Perhaps the bought deal price is below current prices.
Specultation on my part, but why else would they be selling on the day their analyst ups targets and rating?