TSX:SRV.UN - Post by User
Comment by
flamingogoldon Jan 09, 2023 7:02pm
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Post# 35212317
RE:RE:down 3.00$ in 4 days based on nothing???
RE:RE:down 3.00$ in 4 days based on nothing???So checking SEDI, a few small sells went through by Lembit James and 1 director. Not unusual given the valuation of the overbought condition of the stock. Lembit acquired his shares for $4.70+ (and actually saved all of us with his activism) and he still holds over 10%. The other, a director sold his 5,000 shares gifted in the $8 range last July 2021. Can you blame them for taking some profit after a 2 - 3 bagger?
babedinkleman wrote: rabnud wrote: very low volumn this is the weidest trading stock I have ever seen
Actually for this stock it was not that low volume..... today was the highest volume in over a year on all exchanges and yesterday was the highest volume in over 6 months. The day before that was I believe the fourth highest volume in 6 months. Not high by normal stock standards but I'd guess what we saw today was some 'real' trades and volume putting an end to the 'for show' trading the stock has seen recently. Someone decided to 'get in the way' as I like to put it.
At some point the low volume manipulation to drive it inexplicably higher was bound to be challenged by some who realized this shouldn't be trading at the same yield as Scotia Bank was a few weeks ago.
I still question what the reasoning was for driving it so high.....and really don't think it had anything to do with being as simple as being overbought or fomo. Not on a boring royalty play such as this.
Guess we'll likely never know unless there is some sort of take it private attempt etc that comes to light in the near future.
Given the yield and reasonable potential for things to possibly soften it still carries some risk even this price....but at least it's more in line with comparables. And no....don't want to own it......not feeling bad about missing it......just commenting as the weirdness of it all intrigues me.
One thing worth noting in the industry is Boston Pizza announced 6 days ago that they permanently closed and removed 6 restaurants from the royalty pool and opened none during the year. Different restaurant (and in my opinion definitely weaker) but worth noting. Small possibility that have been what triggered someone to say 'wait a minute' here.