Q: The company issued $100M of preferred shares at the end of April and yesterday issued $1.2B of ABS term notes. Looks to me like they have encumbered long term cash flows significantly. Seeing as how the market sold off at 9:30 this morning then bounced back somewhat is telling me that current investors are nervous over these actions. Just a thought.
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Investment Q&A
Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.
Q: HI Peter and Team,
I would like to add a response to one of your previous posts re the stock action in EFN and ECN today.
As you say there can be many reasons why a stock loses 40% of its value in 10 minutes or so.
I do find it disturbing that a short attack or the rumour of a short attack in this case,can cause such technical damage that it may take weeks or even months for the stock to fully recover. CRH was another stock that recently fell victim to this activity. This appears to be happening more and more and the regulators do nothing and the so called circuit breakers employed by the TSX never seem to kick in until it is too late if at all. However these same circuit breakers do seem to be very effective in halting a stock if it going up at a rapid rate.
I know one of your mandates is to help level the playing field for us lowly retail investors and is very much appreciated,but unless the TSX/Regulators do something to curb these destructive activities then the retail investor will always be at a disadvantage and remain cannon fodder for these unscrupulous shorters.
Peter
I would like to add a response to one of your previous posts re the stock action in EFN and ECN today.
As you say there can be many reasons why a stock loses 40% of its value in 10 minutes or so.
I do find it disturbing that a short attack or the rumour of a short attack in this case,can cause such technical damage that it may take weeks or even months for the stock to fully recover. CRH was another stock that recently fell victim to this activity. This appears to be happening more and more and the regulators do nothing and the so called circuit breakers employed by the TSX never seem to kick in until it is too late if at all. However these same circuit breakers do seem to be very effective in halting a stock if it going up at a rapid rate.
I know one of your mandates is to help level the playing field for us lowly retail investors and is very much appreciated,but unless the TSX/Regulators do something to curb these destructive activities then the retail investor will always be at a disadvantage and remain cannon fodder for these unscrupulous shorters.
Peter
Q: you're smart people and know the market. how does a company's share price fall by half in minutes with no news?
Q: Withthe rumours of a short attack being false, is this a good time to buy and hopefully recoup some of my loss on efn?
Q: On the news "Element issues US$1.2 billion of rated ABS term notes through Chesapeake" the stock has dropped 38% (and halted)
CIBC just reiterated their $15 target price and said it is a buy and deal is good.
Would retail investors be selling out here? Am looking at buying here - dividend is now coming close to 5%
Also can you explain the use of the ABS term notes for the fleet management business. Thank You.
CIBC just reiterated their $15 target price and said it is a buy and deal is good.
Would retail investors be selling out here? Am looking at buying here - dividend is now coming close to 5%
Also can you explain the use of the ABS term notes for the fleet management business. Thank You.
Q: Can you explain how this can drop in half in less than a month? Thanks.
Q: Are we seeing yet another short attack here?
Looks like they had a very positive announcement with the ABS notes just yesterday and now the stock is getting decimated. Why do these short attacks keep happening in Canada is there anything we can do about it. HCG, CRH, BAD, I'm sure there are others that I can't recall. Its getting tough to be a Canadian small/midcap investor.
Looks like they had a very positive announcement with the ABS notes just yesterday and now the stock is getting decimated. Why do these short attacks keep happening in Canada is there anything we can do about it. HCG, CRH, BAD, I'm sure there are others that I can't recall. Its getting tough to be a Canadian small/midcap investor.
Q: I'm down on EFN about 19% - buy more or bail as it's down again today with no news that I can see. I've read your other comments and do not need the cash right now.
Q: Would you buy EFN today? Thanks.
Q: Hi, was just thinking of Efn as a buy? I have half a position now. Was looking over the questions and it looks like you seem to think in the long run it is a good buy.
My question is,what do you think of the mngmt, and debt,do you like the sector,and is there growth in the next 2-3 years?
Thanks, doing good since I joined 5i, Brad
My question is,what do you think of the mngmt, and debt,do you like the sector,and is there growth in the next 2-3 years?
Thanks, doing good since I joined 5i, Brad
Q: YOU ANSWERED A READERS QUESTION ON EFN FAVOURABLY . YET SHARE PRICE OVER LAST WEEK AND 3 MONTHS ARE NEGATIVE.
ECN ON OTHERHAND SEEMS TO BE DOING MUCH BETTER .PLEASE CLARIFY
ECN ON OTHERHAND SEEMS TO BE DOING MUCH BETTER .PLEASE CLARIFY
Q: EFN:
Do you see anything that would explain share fluctuations last couple of days? Is this someone establishing a position in the stock?
SHOP:
Can you compare current institutional position in the stock to historical data? Would that account for the meteoric rise of the stock?
Do you see anything that would explain share fluctuations last couple of days? Is this someone establishing a position in the stock?
SHOP:
Can you compare current institutional position in the stock to historical data? Would that account for the meteoric rise of the stock?
Q: Please dissect element financials earnings released today. I was about to sell this stock, now I am not so sure.
Q: I have partial positions in efn and gsy. Disregarding everything but growth, would you combine them in gsy? Thanks.
Q: Just wanted to make a correction to a reply you gave to a previous question on EFN. You mentioned that the small company facing the lawsuit is Clarion. As you can see from the extract below, it's actually Celadon Group Inc.
Keep up the great work.
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NEW YORK, April 24, 2017 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Celadon Group Inc. (NYSE:CGI) who purchased shares between December 30, 2016 and April 18, 2017. The action, which was filed in the U.S. District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (i) CGI's equity contribution to its joint venture with Element Financial Corp. was $68.2 million, rather than the $100 million contribution the Company reported in its public filings; (ii) the Company is being actively investigated by the SEC; and (iii) that as a result of the foregoing, CGI's publicly disseminated financial statements were materially false and misleading.
Shareholders have until June 19, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
Keep up the great work.
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NEW YORK, April 24, 2017 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Celadon Group Inc. (NYSE:CGI) who purchased shares between December 30, 2016 and April 18, 2017. The action, which was filed in the U.S. District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (i) CGI's equity contribution to its joint venture with Element Financial Corp. was $68.2 million, rather than the $100 million contribution the Company reported in its public filings; (ii) the Company is being actively investigated by the SEC; and (iii) that as a result of the foregoing, CGI's publicly disseminated financial statements were materially false and misleading.
Shareholders have until June 19, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
Q: This is a followup to my question re: the class action suite filed against EFN. You replied asking for a reference to a link.
Here is what I have extracted from a news item on my BMOInvestorline account.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (i) CGI's equity contribution to its joint venture with Element Financial Corp. was $68.2 million, rather than the $100 million contribution the Company reported in its public filings; (ii) the Company is being actively investigated by the SEC; and (iii) that as a result of the foregoing, CGI's publicly disseminated financial statements were materially false and misleading.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sa/celadon-group-inc?wire=1.
Thanks
Ross
Here is what I have extracted from a news item on my BMOInvestorline account.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (i) CGI's equity contribution to its joint venture with Element Financial Corp. was $68.2 million, rather than the $100 million contribution the Company reported in its public filings; (ii) the Company is being actively investigated by the SEC; and (iii) that as a result of the foregoing, CGI's publicly disseminated financial statements were materially false and misleading.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sa/celadon-group-inc?wire=1.
Thanks
Ross
Q: What are your current thoughts on EFN (given news today)? Thanks.
Q: Hi. I'm doing my taxes. With the split of EFN, I held onto the shares of both EFN and ECN after the split. Do I need to report the disposition of EFN on my income tax? The trading summary from TD indicates a "sale", so I am wondering if CRA will be expecting something. Thanks for all the great work you do!
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Photon Control Inc. (PHO)
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Element Fleet Management Corp. (EFN)
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Shopify Inc. Class A Subordinate Voting Shares (SHOP)
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Currency Exchange International Corp. (CXI)
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goeasy Ltd. (GSY)
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ECN Capital Corp. (ECN)
Q: Hello 5i
I hold full positions in the above 5 companies in my tfsa and am looking for a replacement for EFN. I am interested in growth and am not concerned with volatility. Also interested in a mid term hold. Many thanks.
Les
I hold full positions in the above 5 companies in my tfsa and am looking for a replacement for EFN. I am interested in growth and am not concerned with volatility. Also interested in a mid term hold. Many thanks.
Les
Q: Hello,
We have these two companies in my child RESP from the split last year. Which one do you has the potential for better growth over the next 3 to 5 years?
Would you advise selling one and use the proceeds to buy the other? If yes, which one would you keep and why?
Thank you for the usual awesome service.
BK
We have these two companies in my child RESP from the split last year. Which one do you has the potential for better growth over the next 3 to 5 years?
Would you advise selling one and use the proceeds to buy the other? If yes, which one would you keep and why?
Thank you for the usual awesome service.
BK