The selling out of Canaccord continues. The level of selling appears to indicate that PC is in liquidation mode. He had 3.3 million options in the money and since he left POET just over 2.3 million shares have been sold by Canaccord. This has people worried for obvious reasons.
There is a narrative that explains this.
The first is that Peter was expected to leave POET. POET was apparently one of the bidders for Anadigics. We all know how that turned out so they had to make the move to Wavetek and went on to purchase Denselight. Immediately following that acquisition Peter retired from POET to move onto the next “phase of his professional life”. It is believed that Peter has taken a position with a fund in the US. As such he may have been required to liquidate all equity positions as a condition. This to me is where an understanding of what makes Peter tick is important.
Like it or not it fits with the level of selling out of Canaccord. What puzzle’s me is why the shorts did not get it right this time?
I expect it would have been extremely difficult for the company to explain this so we are left to let our imaginations run wild.
I will not be explaining how these conclusions have been arrived at and I can't confirm any of it but it was pieced together from a number of sources.
