RE:Hum...it seems the " whale "got an indigestion...I looked back at the chart six months, which includes pre-merger trade. The C$3.75 level has been adamantly defended. This might be the downside of those B series warrants with the acceleration clause if the Aris stock trades over 3.75 for a period of time. Warrant holders can play the stock short, cover, repeat knowing they have a cover price (via exercise) well below the stock price. It acts like a sure thing insurance policy if their short goes against them. They still can lose money on a short but it is no longer a theoretical unlimited loss.
The stock really needs to close and stay above 4 for a period of time. Aris Gold pre-merger was always shooting through C$2.00 and getting hit back to $1.50. The chart looked like a saw tooth wave.