Pivotal moment incoming
So we have a close at 5.19 with a 0.20 drop for the day at -3.71%
.... and we're now entering a Friday trading day....
Can any one say 'margin call'
Make no doubt about it - $5 is in the eyes and sights of many today
Personally, i really like the deal - lawyers swimming like sharks in the water is just noise imo - it is after all how they make their living and put food on the table - to each their own
BTE has been executing the NCIB nicely last year
This pullback, while triggered by this news, cannot be attributed to the news. It coincided with the news, but that is different. Activist short sellers, if present, have no issue creating any and all noise to trigger panic selling by the ill informed.
I'm on the sidelines currently - but pullbacks of this magnitude on "sell the news" creates a buying opportunity imo - not a selling reason....watching closely I am, as I've liked BTE all the way from 0.345 back in April 2020 - huge upside potential, and the upside potential just increased again with this pullback
Risk; Reward; Timeframe
Does BTE have headwinds....sure, the industry as a whole does as well
Does BTE have tailwinds... Sure it does, and this deal adds to them in many ways
Does BTE have shorters....most definitely.... but buy when shorters are covering, and sell when shorters are shorting....well.....that makes you money....
Cheers folks