Why are we sitting at $2.05Answer for one is warrants.
Big player(s) who were awarded warrants are increasing their position by selling shares at 2.05 and exercising their warrants at 1.75 (or even lower for older ones).
So they can either cash out the difference or increase their share base with the profit.
They have computers working for them in order to not crash the SP. And this why we see entities like CIBC for instance buying 100 share lots every minute or two. It is all automated !!!
So yes the warrants are putting more money in CRE coffres, but are also holding our SP back.
For them it is only mathematics. 10% and above is a good profit. They type it in the computer and press "enter'.
Then there are also the shorters, also playing the game of lighting fast buying and selling all automated.
And that is trading 101 in this era.