This is from the Stockhouse board and I have to agree something is brewing. That last news release was a non event in my opinion and shouldn't have affected the share price.
I think that this was in reaction to the private deal that took place earlier this week.
I don't think so…, CDP (who manage funds for the Quebec government's pension plan) buy and sell shares of various companies all the time. And it wasn't really a "private deal"…, they sold their shares in the open market, just like you or I would. The last time they sold some NXB shares was in May and the stock price didn't react at all.
Whatever's happening this time appears to be the start of an upswing due to pending news. On Friday and Monday the daily number of trades, and the daily volume, increased more than 10-fold over the averages for the past 3 months. The price has held fairly well at 1.30, which is also a significant increase over recent levels. Obviously "andora" can't really know if there's a news release pending and doesn't have a clue what it may be about, but his guess will likely prove to be correct…, something's coming. My speculation is that it has to do with the commercialization of BioSteel. In July Nexia stated that "fibre development activity in conjunction with Nexia's partner, Acordis Speciality Fibres Ltd., is continuing with a target of achieving the required strength properties by the fall of 2003". They must have been close to achieving their target at that time, or they wouldn't have set such a tight timeline.We shall see!!
David Raine
Vancouver
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