JP morgan chase has been buying recently, see the ann. on the 9th of August, They have been lending a lot of shares out to shorters too.
3 scenarios that I can think of-
1/ large buyers are hedging
B/ Shorters are going to pull the price down to force we small holders to sell when our stop loss gets hit. This makes more sense when you look at the number of shares held by substantial holders, (84.21%) that leaves around 148,917,021 (If my math is correct) shares for everyone else to fight over. (assuming that these subs. holders aren't selling any substantial amounts).
3/ A larger company might be moving in for a takeover so might be controlling the price for their purposes.
It was a surprise to read about the TSX listing on the 7th Aug, maybe overseas buyers are going to force the price down in order to fill their quota's
I don't know which (if any) of these reasons might be correct.
WGX Price at posting:
$2.93 Sentiment: Hold Disclosure: Held
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