Big Banc Split Corp T.BNK

remember

[braincloud]

BNK is going to get knocked out of the TSX index this week I think. That may account for the large volume we have seen. After that and tax loss I bet we get a nice bounce. This baby will have some torque if and when

[puntacana]

This post has been removed in accordance with Community Policy

[agspo63]

If the share price is under 1$ for more than 30days - if I remember well

[braincloud]

Na, I'm afraid it's slightly more complicated than that a stock must maintain its weighting within the index. So this month there were 4 deleted. PPY, BNK, PRE and NAL. BNK has to maintain 0.024 of the index. It has nothing to do with anything else. It just needs to maintain that minimum weighting so obviously if a stock drops below then it's removed.

[WestCoastEagle]

I get the tax loss season being over but why would being knocked out of the TSX help with the bounce?

[Emailme]

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[MLCNitro]

I think there's some misunderstanding as to Braincloud's post.  BNK hasn't been delisted nor did he claim that. BNK was removed from the S&P/TSX Composite index after market close on friday.  The requirements to be in that index and the requirements to be listed on the Toronto Stock Exchange are two totally different things. Look it up.

[lefmike]

I was wondering what that was all about. I thought it was a delisting from the INDEX not the TSE being under a buck is not a reason to delist, things happen... Also I bet a lot of that crossing and selling, can be attributed to tax loss AND the fact that many funds require the holdings be in a TSX Index. , I expect that by the end of the month or Quarter they have to get rid of those that are no