Bullboard - Stock Discussion Forum North American Palladium Ltd (New) PALDF

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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) > I wonder if Pdl was shorted down from $26.40 to current

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Post by BillionaireBoy on Apr 04, 2019 8:41pm

I wonder if Pdl was shorted down from $26.40 to current

levels because the underwriters' probably knew that this was going to happen. That sudden $7.00 drop the day it touched $26.40 was very suspect! This is especially so when the company is reporting record earnings and their best quarter in history. Not liking how this secondary offering is being handled. So it is a bought deal by the underwriters @ $13.00. Does this mean that they also offer the shares at $13.00 or can the distribute them at higher prices? GLTA Longs

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Comment by astevens on Apr 05, 2019 1:45am

The underwriters have shown considerable confidence in PDL and clearly have no doubt that they can place the shares at a price above $13.00 to institutional investors. This development is highly positive as an overhang will have been removed and two major Bay Street institutions have an interest in marketing the company. Institutional appetite will be cultivated and a larger float ...more

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