TC and patersons have been selling long before the options got underwritten, they have straight sold near $1mill each since March, so I don't think it's they were sub writers, I don't think it makes sense for them to have taken any of the raise, just to turn around and sell them back into the market at 8 cents.
Where did all this supply come from? that's what I want to know, hartleys did the 6 cent raise earlier in the year, are these guys actually working together maybe...
As for hartleys they have bought nearly $1mill at an 11cent+ average since it started coming off the highs in June, so if their big buyer at 11 cents+ I can't see them passing up $2mill worth at 8cents, maybe they got alittle cold feet at the prospect of taking $5mill, so they pumped it alittle get some more conversions who knows.
Whatever the case hartleys have alot of shares right now under there control right now, probably around $4mill and 5 mill unlisted options they no doubt want to convert as some point.
Good news is Patto's has joined TC in pissing off as of Tuesday all this recent volume is just retailers selling with hartleys doing the buying, looking at the buy/sell side it looks scary it does take some ball to buy in these spots like AUZ when we were soaking the lows.
I am confident though kid you not I just just saw hartleys running this exact same game on KPO I bought there 5 cents I posted there too, but no one paid any attention no one gave a sheet same as here, now it is suddenly a market darling all the usual idiots are flooding in a day late and a dollar short, never going be alpha following the crowd.
Check out the broker data for KPO for the days just before it popped looks familiar everyone and their mother were fleeing the scene, only hartleys were buying.
APC Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
