Bullboard - Stock Discussion Forum Gear Energy Ltd T.GXE

Alternate Symbol(s): GENGF

Energy Oil & Gas E&P

Gear Energy Ltd. is an oil-focused exploration and production company. The Company carries on the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its operations are located in three core areas: Lloydminster Heavy Oil, Central Alberta Light/Medium Oil and Southeast Saskatchewan. The Company is also engaged in focused on improving oil... see more

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TSX:GXE - Post Discussion

Gear Energy Ltd > Washtraders pounded the volume into submission

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Post by lovehockey on Oct 25, 2023 3:06pm

Washtraders pounded the volume into submission

Buyback is the only solution to this very unfortunate situation. I hope the management realizes it and brings back NCIB once the company is debt free. Hopefully that happens in April.

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Comment by baranja on Oct 26, 2023 3:02pm

Correct,. that is the only way to start moving this stock.

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Comment by NotThatBright22 on Oct 26, 2023 3:26pm

This "WASHTRADING" theory has been milked to its death. It is illegal and perhaps happens from time to time. Certinally not at the frequency you propose.

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Comment by lovehockey on Oct 26, 2023 3:34pm

I do not think you know what this is all about. Of course if you open two accounts under your name and sell from your cash account to your TFSA account that would be illegal. However if you have 12 different accounts with different brokers under different names, tied together in one PC and trade between those accounts - that is not illegal even though technically it is still washtrading.

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