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Volume has dropped to nothing in this one. I guess everybody's still trying to get over the reverse split news. NIA is MIA.
IMO the people that bailed since the news came out on the reverse split news were the weak hands. Mostly likely the Flippers and Day Traders in the shares. That may be good or bad depending on how you look at it. We may see less volume in daily trades, but also less volatility. Trading volumes were off in a big way today.
The purpose of having the reverse split would appear to be that Management wants to get more institutional investors into the Company and to expand their reach to other projects. That would seem to be a good thing for the longer haul.
I'll be interested to see how NIA spins the news regarding the reverse split.
it came out ... it was tech analysis. pretty basic stuff.
unfortunately, it was all before the updated company status.
the chart is no where as bullish as it was but selling has been light
The Grey market is the exchange WPSHF is traded on in the U.S.
What happened to NIA's updated analysis on this company???
Hi. What do you mean by "gray market"?
There's not a lot of interest in WP today only 26K shares traded over on the "Grey" market. WPX trading a little lower over on the TSX.
When the dust settles I think this heads back much higher from here or I at least hope it does.
I don't see any trades going across on the Grey market this morning? What the heck is going on?
yes it normal. wpx.to is not current with the otc markets for whatever reason.
while it would be nice to have access to lvl 1 and lvl 2 it what it is. I watch the action on tsx
Yes I believe that is not abnormal.
Thank you for your time and information.
I always do limit orders
Are you making limit orders and getting filled, or just buying a given dollar amount with market orders?
I don't know the answer to your question. I didn't even know there was such a market as the "Grey" market before I purchased shares of this Company. I haven't had any problem buying shares, but it would nice to see the bid and ask.
Forgive my ignorance, but why are there no bid or ask prices for this ticker? Not here, Ameritrade, Scottrade, or otcmarkets.com. Is that normal for a grey market stock?
The shares are currently trading around .25 Canadian, so barring the price dropping below .20 between now and the reverse split, management should achieve their goal of getting the SP over $1.00 Canadian post split. It's my understanding the shares have to be at least $1.00 in order for institutional investors to purchase shares, so Management wants them to clear that hurdle easily post split.
It wouldn't surprise me to see some buyers step in before the end of the day today. If they don't, I'll add more at the close or tomorrow.
while frustrating, we will see where we close today/tomorrow.
we've double bottom and for the time being we are holding support.
if they are truly doing the split to attract investors I would assume this is the lowest they want the share price before the actual restructuring.
fingers crossed. wish everyone the best
It may be the Flippers bailing for their reasons, but I'd rather have institutional buyers coming in to replace them anyway.
Let them sell out, hopefully stronger hands will replace them. We know that's what the Company is attempting to do anyway with the reverse split.
This should be a buying opp. This news does not support this dip IMO.
I expect it to recover fine. Just not sure how long it will take it to advance much beyond the pre news level. Time will tell.
If that's the case, this is a good buying opp., then. Maybe this announcement was seen as a "sell the news" event, but I see it as a move that management is making to take the Company to the next level and positive.
The market always does the opposite of what is perceived as good or bad though. I may buy more if we see significant selling.
I think those in jumped in looking for a quick flip are leaving. This news looks like it should be long term good move but may delay any big gains for a significant time. So people moving on. This could stagnate for some months. Hope not.
My take on this news is that some investors may not see the reverse split as initially positive, so we're seeing some selling. However in the bigger picture I think the reverse split is going to enable them to cater to institutional investors, so that's a good thing.
The share price dropped some at the open, but it doesn't appear it's anything big to me. I'm sure NIA will spin this news as very positive in much the same way I have. The news seems to imply to me they want to get into other ventures or resource areas too. JMO
That is for sure. The guys over on
http://www.stockhouse.com/companies/bullboard?symbol=t.wpx
See news as a positive for the most part. But really looking for NIA's commentary on the news. I personally do not know what to make of the news.
It appears the market is not a giant fan of the news.
I thought at 12pm today they were supposed to come out with an updated analysis?
I also wonder what NIA has to say about this.
It will be interesting to see how market reacts to this news.
Looking forward to see what NIA has to say.
February 1, 2017, Vancouver, BC - Western Potash Corp. (WPX: TSX) (FSE: AHE) (the "Western", "the Company") today announced that it has entered into an arrangement agreement (the "Arrangement Agreement") under the Business Corporations Act (British Columbia) to complete a corporate reorganization by way of a plan of arrangement ("Arrangement") with Western Resources Corp. ("Western Resources"), a British Columbia corporation created by Western Potash for purposes of the Arrangement.
Under the Arrangement, Western Resources will acquire all of the issued and outstanding common shares of the Company on the basis of 0.2 of a Western Resources common share for each one (1) Western Potash common share, subject to the terms and conditions of the Arrangement Agreement. The completion of the Arrangement will result in Western Resources becoming the TSX-listed successor company to Western Potash. Upon the completion of the Arrangement, the proportionate ownership interests of the Western Resources shareholders in Western Resources will be identical to their respective proportionate ownership interests in Western Potash before giving effect to the Arrangement. The Arrangement is anticipated to close in March 2017, subject to Western Potash's shareholder approval, court approval and applicable TSX and other regulatory approvals, together with all other closing conditions, as more particularly described in the Arrangement Agreement.
Currently, the only mineral properties of Western Potash are the 100% owned Milestone Potash Project in Saskatchewan. To diversify its assets, Western Potash wishes to be able to pursue investment opportunities in other resource properties that may contain metals or minerals other than potash and in jurisdictions that may be outside of Saskatchewan. As its resource properties become more advanced, Western Potash also wishes to be able to consider alternative value enhancing opportunities for those resource properties, such as joint ventures, spin-offs or business combinations. The Western Potash board of directors believes that, by making Western Potash a wholly-owned subsidiary of Western Resources and Western Resources acquiring additional resource properties in other separate wholly-owned subsidiaries of Western Resources, it will facilitate the ability to consider and implement those alternative value enhancing opportunities.
The Western Potash board has approved the Arrangement Agreement and recommends that the Company's shareholders VOTE FOR the Arrangement at the annual general and special meeting of the Company's shareholders to be held on March 9, 2017.
ON BEHALF OF THE BOARD OF DIRECTORS
"Geoffrey Chang"
I think if you look @ chart and fundamentals you'll get your answer
NIA says stock goes to .50
"Imminent!"
What you people think? You think NIA is correct?
Whatever you say Boss. I've been following the events here. Just getting a little dizzy from the highs and lows that's all.
I was impressed by the comeback the shares made today.
not a pump and dump ... lots of events happened this week that caused selling.
the technicals and fundamentals are still in place for WPX to have a nice steady climb.
If you made some $ this week congrats! if you're holding know what you own.
Pretty nice rebound from that 20% drop of this morning. Let's see how this closes.
You're right. You have to be disciplined when buying/selling these penny stocks. If you want to buy and hold I suppose that's different, but anything can happen with these small companies and taking your profits is never wrong.
Nobody know how far this will continue to fall, I'm hoping it will firm up some today and next week. GL
I was in at .14 but with the runup so quickly with nothing to really substantiate it for me, I took my profits. Today should be a wake up call ( if you hold 10,000 shares you just lost $640+). I learned to not try to catch a falling knife with penny stocks...just take your profit, let things settle down a bit and if you feel comfortable then buy back in. If WPSHF goes back to my original price I will reconsider getting back in. GLTA
seems reasonable ... probably combination of things.
POT earnings, potash prices etc, and def going to profit taking with a 90+ RSI
I'm in around .12 so this is all noise to me.
Weekly/monthly still intact
Well, let's hope most of the weak hands sold out today! What a massacre. I don't know if the fact that the volume was fairly low on the American exchange is good or bad? It may have been better for us to see a high volume sell-off.
I would be surprised to see the SP stabilize tomorrow. We most likely head lower....hope not.
I think you're right about commodities profit-taking and WP profit-taking along with it. You can't expect the run to go on forever and I'm just surprised this didn't tank yesterday and waited until today to do so.
I hope it's just a healthy correction, but I'm going to wait and see how this shakes out for a few days before adding.
Actually they're (have been down) 20% up here on Toronto and I'd be a buyer if I was at home.
Is not the reason for this selloff just Potash Corp's earnings ?
Also have read that Toronto's Materials Index (ie. commodities as a whole), are sitting at a PE of 25 now.....
Commodities have been on an enormous run.
Copper's at Resistance and today is selling off....
The Chinese demand claims are kind of in doubt.
Regardless this pullback looks healthy to me.
.
I think this move we've seen in WP has almost as much to do with the reflation trade in potash as it does with specific news dealing with WP. It happens the same way with PM stocks, like GPL, SSVFF, or FFMGF. Those all move when PM's move, just like the recent big move we saw in SSVFF, now with PM's dropping off it has done likewise.
A rising tide in any particular sector lifts OR can lower all boats and IMO that has a lot to do with where WP has come from. Everyone sees that it's very undervalued and bought accordingly, now it taking a breather after the big run. I suspect it will fall back, rest and move higher at some point.
I remember for one of NIA's other recommendations GPL this happened. I bought in then it pulled back a lot. I got out with small profit. Then it took off and I missed out on many 100% move. I will just hold and wait it out this time. There is enough company value under this price for me not to worry.
Also good point on Canadian Exchange. I need to consider that for real view of volume.
Sell off is a little more severe over on the Canadian exchange....down almost 13% as I post. I expected a pullback to come soon, it just came a day later than I thought it would.
I suppose that's good if you're expecting a higher move longer term.
There's probably no telling how far the drop will be until more news comes out.
one eye open , one eye closed!
but yes today's news HUGE!
Thought you were sleeping till March?
The guy said he'd been in the stock for 8 yrs., so I expect he has a better grip on the Company's situation than those of us that's been in it a few weeks.
My question was one he was asking about the SP reflecting near term future revenue? Will it say there until revenue is achieved?
That to me is what will take us higher from here or hold our gains. I suppose the news flow will be very important going forward and will be the determining factor with SP movement. We'll see.
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