Post by
Pinegrove1 on Oct 23, 2023 4:12pm
Price / Volume
Volume for past months have been extremely low and the SP has tanked. My take is that anyone who wanted shares has purchased them and anyone who wanted out has done so. The vast majority are sitting tight and seeing how things go over the next 6 weeks. The low volumes are day traders and small fish. IMO, the movement in share price (although significant) isn't representative of the underlying sentiment. Continues to demonstrate how inefficient the market is. Imagine, trading a few shares and moving the market cap by 10 - 20 percent. Mathematically makes no sense. Be better if this thing was held privately and buyer and seller could just be talking about the economic value of the asset.
Comment by
Pinegrove1 on Oct 23, 2023 5:03pm
Specifically, average daily volume combine TSX and NYSE is approximately 150k. That represents approximately 1/10th of 1% of outstanding shares. Not exactly an overwhelming indicator
Comment by
Pinegrove1 on Oct 23, 2023 5:05pm
And further, I'd venture a guess that a good portion of that daily volume is the day traders spinning the same shares over and over again as the price moves a penny or two.
Comment by
Marine2 on Oct 23, 2023 7:40pm
Pinegrove I agree, price discovery of WRN shares on the TSX and NYSE is nothing more then a Las Vegas game. As you pointed out, "trading a few shares and moving the market cap by 10 - 20 percent" is nothing more then a joke ! Todays market pricing in relation to a buyout is irrelevant ! imo M2