Wednesday, July 24, 2013 6:33:41 AM
This virtual halt on trading activity on OPELF, where the trading dropped to a very tiny fraction of its usual already small volume and the prices were consistently well below the exchange adjusted Price on OPL.V, occurred following the announcement of Opel's impending name change. IMHO, given that it occurred with OPELF and not OPL.V, it was clearly due to the prior experience of the inability to trade OPELF for over two months following the previous name change. This was exacerbated by Opel management's grossly inadequate response when asked what they were doing to prevent recurrence of this problem with OPELF. Opel management's response was that what they would be careful to avoid submitting the application during trading hours. But that was what was responsible for the trading halt in OPL.V and had nothing whatsoever to do with the inability to trade OPELF. Many people undoubtedly concluded it was therefore highly likely that the same problem will occur with the US ADRs while Canadian shares would probably be able to continue trading without problem.
Given that it is no sprites whatsoever that almost no one wanted to buy any OPELF although clearly many were quite eager to sell it.
conveniently for Opel management, one of the many effects of the name change result is an inability to chart anything that happened to OPELF shares prior to the stock code change to POETF. I suspect that the real underlying motivation for the name change is this and many other associated effects where past history and events become greatly obscured. The market loses a huge amount of data on companies where name change is instituted making this an attractive move for companies that wish to bury their past. And as discussed in previous posts Opal technologies, now poet technologies has a great deal of past to bury.
Recent PTK News
- POET to Present at the AI & Technology Hybrid Investor Conference Presented by Water Tower Research on April 10 • InvestorsHub NewsWire • 04/03/2024 12:18:39 PM
- POET and MultiLane Collaborate to Develop High-Speed Pluggable Transceivers for AI Networks • InvestorsHub NewsWire • 03/27/2024 02:52:22 PM
- POET to Demo AI Hardware Products for 800G and Beyond at OFC 2024 • InvestorsHub NewsWire • 03/22/2024 03:25:07 PM
- 24/02/13 - TSX Venture Exchange Stock Maintenance Bulletins • PR Newswire (Canada) • 02/14/2024 05:39:00 AM
- TSX Venture Exchange Stock Maintenance Bulletins • PR Newswire (Canada) • 10/18/2023 12:57:00 AM
- POET Technologies' New Module Designs Attract Major Companies at CIOE • InvestorsHub NewsWire • 09/12/2023 11:40:26 AM
- POET Technologies to Feature 800G Optical Transceivers at CIOE 2023 • InvestorsHub NewsWire • 08/30/2023 12:00:00 PM
- POET Technologies Creates Platform for 1.6T Transceivers Using 200G per lane Technology • InvestorsHub NewsWire • 08/15/2023 12:23:35 PM
- POET Technologies Announces Sample Availability of "POET Infinity" and Testing with Two Lead Customers • InvestorsHub NewsWire • 06/14/2023 05:30:18 PM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM