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North American Palladium Ltd is a precious metal mining company. The company operates the Lac des Iles palladium mine located in Ontario, Canada, which is one of only two primary producers of palladium in the world. The group believes there is exploration upside near this location, and the limited number of primary palladium production areas also offers investors exposure to palladium prices... see more

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North American Palladium Ltd (New) > Algorithms

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Post by astevens on Apr 01, 2019 5:00pm

Algorithms

With such a small free float, it is relatively easy to distort the share price. Management believes that algorithmic strategies were responsible for the severe weakness at the beginning of March. Short selling of only USD 10 million over the past 30 days would probably have been enough to bring the share price down by 45% from the peak of $26.30. Nevertheless, shorting PDL seems highly reckless with such a tight palladium market and corporate results out on 2 May. I fail to understand the logic of such a strategy, which is an expensive one at the very least.

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Comment by BillionaireBoy on Apr 01, 2019 5:19pm

It would be nice if the algorithms distorted the share price up for a change! GLTA Longs.

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Comment by sunshine7 on Apr 01, 2019 5:33pm

its coming. Approaching oversold on the daily. Shorts will need to buy back soon but where will they get those shares? Brookfield? At much higher prices?

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North American Palladium Ltd (New)