Post by
tamaracktop on Dec 22, 2020 11:06am
Behold the inefficiency of the Canadian market
Ballard, Plug, and FuelCell have all made new highs today. Xebec should be doing so as well. It will.
For the moment Xebec is restrained by the cadre of investors that were lucky enough the get the placement, and want to make a quick 30% by selling the stock they bought at $5.80 in the mid 7's or higher. Some are doing just that, which is why you'll see that the short position has ballooned into the millions of shares.
Certainly not all of the buyers of the placement are not of that ilk. Perhaps 10 or 15% are, I have no idea. First the market has to absorb those sellers, and then the chains come off. That's why we need volume.
Comment by
Mick67 on Dec 22, 2020 11:22am
Fully agree with TT on this that there are profit takers from the deal that are holding this back that will show up in the increasing short report. As the flippers become less influential this should unleash the coil of XBC shares and see it hit new highs similar to its peers on a much more reasonable valuation - with cash to boot in the coffers.
Comment by
Ciao on Dec 22, 2020 11:28am
Same pattern we have seen wrt shorts on all the recent financings. Short position has moved to about 8M shares as of Dec. 15 from 1M shares on Nov. 30.