The end game plan of the person holding a short position of around 600,000 shares interesting. When this stock can jump 20% on low volume how do they exit the position. In theory they don't make any money until the position is closed. The way CNQ is looking it is a rather stable company with prospects of being able to maintain a small but stable growing profit. Given that this short position was created back before the split and there is a similar short position with SRL I would give quids to know the identity of the person who shorted the stock or loaned the shares to to make it possible. I don't like shorting although once dabbled when it was illegal, it is the stuff ulcers are made of. Who ever took this position is very astute and has done well (so far) I have always thought the only ppl that can make shorting work are those that have an inkling of what is going to happen.
CNQ Price at posting:
35.5¢ Sentiment: Hold Disclosure: Held
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