Ritchie Bros. Sees Inconsistent Trading in Canada and New York

Ritchie Bros. Auctioneers Inc. is down more than 18% on the Toronto exchange Monday, but investors shouldn't panic.

In early trading, it appears the stock dropped, simply to correct an 18% spike in last minute trading Friday afternoon that sent the stock as high as C$27.99.

By comparison, Ritchie Bros. (RBA) traded up just 3% in New York on Friday and is sitting virtually flat Monday, down $0.18 to $18.49. Historically, New York is the more active exchange for the stock, in terms of volumes.

Off the record theories to explain the trading anomaly include a bad fill for a market order or a trade(s) with a volume weighted average price [VWAP] in mind.

Comments

[livesinhiscar:]

What happened on the TSX on Friday at the close was very unusual.
A lot of stocks really jumped unbelievably...at or maybe after the close?
I focus on the banks mainly and it was seen there as well.
For example, look at TD which supposedly closed at 46$ on the TSX Friday.
Yet when I look at a 1-day minute-by-minute chart for Friday, TD does not trade at 46$ ever.....looks like the highest was 44.50.
This is true on bigcharts.com and also on the TSX own website tsx.com charts.
Similar for the other banks, RY, BNS, BMO etc.......anyone shed light on this.........when did those 'high water' trades take place and why are they not seen on the intra-day charts??
What a rigged game.

2008 Dec 01 04:35 PM