Special crossing is when a trade can be done outside market hours and at any price. The rules state the value of the trade has to be over $1million and that it either has to be one buyer buying off multiple parties, or one seller selling to multiple buyers. It was done at a discount as last close was 156 yet this trade was done this morning at 142.
Having a bit more of a think about it, it might actually be a good thing. There are only a couple of holders who have that much stock. I am guessing the Huddy's may have sold some of their stake via a broker to a range of institutions. Hopefully that brings some quality new insto's on the books and gets rid of some of the perceived overhang of the Huddy's holding.
IDL Price at posting:
$1.45 Sentiment: None Disclosure: Not Held
