Candente Resources traded for its last day today. Starting Monday the company will change to Candente Copper plus a new company Candente Gold with existing shareholders getting one share of Candente Gold for each 5 shares of Candente Resources. Even though copper prices have risen significantly the last 6 months, Candente's share price declined during this period to $0.42 on 12/15. http://finance.yahoo.com/echarts?s=DNT.TO#chart2:symbol=dnt.to;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined Since then the share price rose to $0.59 today, a rise of 40.5% in 2 weeks.
To me this shows that the shorts drove down the price so they could cover from a lower base. The last 2 weeks are when the covering happened. I do not know if the shorts were naked, borrowed or legit. This indicates that the average junior might be 40% undervalued because of shorts. How the regulators can justify this is beyond me.
