RE:RE:Cormark in actionNot an expert on this but in the split share arena that I trade, bought deals are numerous and not uncommon for institutions to short the brokered deals at higher prices and buy back when they reach the bought deal price, which they ALWAYS do like today. And sometimes, they overshoot to the downside. I guess you could say a bonus to doing the deal. Not saying that this occured here but why I never pay more than the bought deal price in the few days following an announcement.
Dadsaid2 wrote: I was wondering how Cormack handles these 16.5 million shares. Are they obligated to sell them to clients at $2.80? Can they sell some or all in the open market at a greater price and pocket the profit as gains on their books? Im obviously not an expert on the rules of these type of offerings. Any experts out there? ..THX...GLTA....C
Safetrader wrote: Well it is good to see they are using some of their over allotment shares for market stabilization.
They purchased some at $2.81 this PM. I purchased mine 2 years ago and won't sell them any.