Post by
Redwine12345 on Mar 26, 2021 3:18pm
33m subscription
Was checking again how the subscription went. The buyer Cantor Fitzgerald Canada Corporation agreed to buy 34.5m units at 0.58. Total proceeds 20m. Next day they increased to 50m units or $29m, and few days later they bought additional 7.5m units. My bank showing that there is 184.6m outstanding shares.
From tyechnical perspective, it is out of oversold territory and now hanging in there. Possible double bottom at .45. I hope this is the case. There is a slight divergence on bunch of indicators suggesting potential upside. I like what I see.
But I don;t like that there is 5m in short posittion. If it is a dumb investor is shorting, I am ok with this, but if it is a market maker (or Wall Street player), then there is potential for downside.
Crossroads would be a nice term to discribe the current share price.
Bollinger Bands support this view (right in the middle). Time will show. My bet is on the smart money.
Comment by
lscfa on Mar 26, 2021 3:39pm
Get rid of the bloody toxic convertible note holder.....