Lakeside Steel Inc V.LS

very normal halt

[stubbs]

this is completely normal and if you think otherwise you haven't been in the markets long enough. The exchange has to review and belive me its not just look and say OK. When significant news like this they may not have all the paperwork complete but a leak is protected. Good example is Reduce84 says he is in the know right...that's a leak. I've seen many stocks halted for days while all three parties review for accuracy. Remember if any miscommunication or mistake one of us investors could get burnt bad. They will go thru the deal with a fine tooth comb. However don't get me wrong I'm not saying the exchange is competent but the intent is protecting us.

Stubbs

[bbarberayr]

[bbarberayr]

How about a press release from the company saying "We are final negotiations for the sale of the company.  Once a firm transaction has been completed, further details will be released.  There is still no guarantee of a transaction"   or something to that effect.

[stubbs]

doesnt work that way. Company requests a halt  which they did. They dont tell the exchanmge to resume trading now! This is now out of there control the exchange is now in control. Stubbs

[bbarberayr]

Never, in my experience, have I seen a US-listed stock stopped trading for an entire day other than for fraud. Not sure why Canadian regulators feel the need to control so strictly.

[SupplyChainGuru]

I'm starting to think that they never concluded negotiations yesterday, and the whole halt strategy was to buy them one more day to go over things.  anybody has any theories as to why this is still halted and no news? 15 mins to open . .  SCG