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  5. TCN: I find it odd that bought deal was just done at $13 and today the shares are trading lower. [Tricon Residential Inc.]
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Q: I find it odd that bought deal was just done at $13 and today the shares are trading lower. Is this "normal" . Thanks John

Asked by John on May 19, 2021
5i Research Answer:

It happens at times. The discount to the offer was only 35 cents, and it is a pretty bad market day. In a bought deal the company gets its money regardless, and the dip is the brokers' problem, not the company's.