Gentlemen,
Long time holder of ECU/AUM and reader/admirer of this board, and if I may, it seems to me that there has been a considerable amount of indiscriminate dumping going on in the speculative space, especially for those companies that are somewhat strapped for cash.
Forgive me for offering heresay, but many of my colleagues in Europe who work in investment and finance have commented on funds being pushed to liquidate in an effort to both raise liquidity for redemptions and just simply get out of the market until a bit more certainty presents itself.
Irrespective of whether I think AUM is a good investment or not, I think it's fair to say that AUM falls into the category of speculative and, as TD's most recent report noted, will most likely need to raise capital, all of which making it a prime candidate for a fund to cut it loose.
Why today? B/c it was such a big up day on gold and who ever was doing the dumping probably thought there might be a bit more volume to sell into.
Just my two cents.
All the best,
Splifka
