PB is correct. As I stated, TD Ameritrade spoke with TD Securities as they are the market maker and responsible for the multiple trades of 500 blocks. TD Securities stated they were not concerned with the activity. They did not say it was legit or suspicious. They just said they were not concerned with it.
To be clear, if this was taking place in the US it would be flagged and stopped. This came directly from TD Ameritrade. Not so much in Canada for whatever the reason.
In the US, this activity would be considered an uneconomic trade. It would be assumed that this would be an attempt to manipulate the price.
As far as this not being illegal in Canada I would say that it all depends. If it is a controlled dump then I would agree. If this is part of an effort to hold the price down while accumulating a larger position or working in tandem with other brokerage houses to influence the price then there is no doubt it is illegal. I don’t think the Canadian markets are the Wild Wild West of trading, where anything goes.
News 
Market Data 
Discover 
