Life & Banc Split Corp T.LBS

Short position on LBS jumped to Nov 15

[mouserman]

Was quite surprised to see that some entities have shorted LBS at levels well below where it trades today. The average sale for the period from Nov 1 to Nov 13 was 5.30.....
It may explain some of the big volume today... shortsellers covering and not wanting to pay the distributions to those they borrowed shares from.

[DivChain]

[/quote Short selling volume of LBS in Oct/3.86k & Sept/1.84k, how much in Nov so far? Doesnt seem like much in the prior months, let me know because I have no short trading knowledge other than watch ing TSLA shorts get burned,lol.

[EdPaquette]

Shorting is very dangerous,  I've almost done it.  My price wasn't met so it never happened,  but it was a good thing because it kept rising and I would have been burnt.

[EdPaquette]

It was FTN at 4.00 in the spring. 

[DivChain]

This can't be good news? Whats you take Financial 15 Split Corp. Thu, November 19, 2020, 10:00 AM AST     TORONTO, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Financial 15 Split Corp. (the “Company”) is pleased to announce a reorganization that will provide for increased asset coverage and increased dividends for its Preferred shares and

[ThatAlbertaGuy]

Well at first glance it seems to be a bad beat when I read it as your loosing that sweet roi on your original investment . Like if you bought at 3 and expected .125/share bought your only getting a fraction of that . But on the other hand knowing quadravest splits when that nav hits 17.88 the stock may start at 7.88 a share but then the premium will kick in and then an further gains in the nav

[ThatAlbertaGuy]

There is also a fair bit of discussion on the ftn board about it all

[mouserman]

Well if a person was to check the prices paid in offerings for the UNITS of commons and preferred,   in then past 5 years or so, you would find the average price paid was well over $ 8 for the commons. So it is quite a haircut getting only 4 shares for every 10 you own. And the resulting price will still be below what most of them paid. The folks who shorted FTN at over 7$, ( i was one

[flamingogold]

Just a fyi, "Canada has largely outpaced other countries in the scale of both spending and deficits." https://www.fraserinstitute.org/blogs/canadas-spending-and-deficits-higher-than-comparable-countries-during-pandemic

[anubis44]

Just one thing to say about the Fraser Institute. They are an extremely right-wing think tank, and spare no opportunity to paint Canada as fiscally irresponsible, despite the fact that Canada has perhaps the best (least bad?) economy of the G7, and Canada's banking system is legendary for its stability. The big 6 Canadian banks have all been paying dividends without interruption for decades