Low volumeShare price is up $0.09 per share half way through the day.
The volume is really low which is an indication of retail investors picking away as opposed to giving an indication of anything meaningful.
Anybody hearing anything about M&B's intentions?
M&B are the key to what happens next.
If M&B doesn't sell, I think the share price will mulch around and slowly drift lower as the market waits for the Certarus holders to sell.
If M&B sells, the future direction will depend upon who buys.
If retail investors buy M&B's position, then I think the share price will tank.
If Brookfield buys M&B's position, I think the share price will drift lower over time with Brookfield patiently buying up whatever it can get.
If a big player other than Brookfield buys up the M&B position, then things could get interesting. Given Brookfield's history, I'm not sure anyone would want to get into a bidding war with them.
M&B could have used the 48.5 million share issue to Certarus shareholders as a buying opportunity but chose to sell instead. My guess is that M&B decided not to reinvest elsewhere after evaluating what Brookfield would likely do.