Trading up a little todayThe share price is showing somes signs of life. I imagine most of the old PIPE shareholders who wanted to sell have already done so, and those who waited too long now find they cannot sell as their PIPE shares haven't been converted yet. So we have mostly buyers today.
Oil prices have been taken out behind the shed the last few days, although the Canadian dolalr has also fallen, so that blunts the damage a little.
There is no doubt that PIPE's share price was overdone to the downside, simply due to the fact people wanted out, and no one wanted to buy before the conversion, only to end up with an odd number of SCR shares, as I explained on the old PIPE board. I expected a bit of a bump today, lets hope it continues in the days ahead.
For the honest PIPE shareholders who stayed, good luck to all of you.