Why Maxar shareholders couldn’t sell amid recent price plunge [Toronto Globe and Mail (Ontario, Canada)]
Maxar Technologies Inc. (MAXR)
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Source: Toronto Globe and Mail
Why Maxar shareholders couldn’t sell amid recent price plunge Canadian shareholders didn’t find it so easy to sell Maxar Technologies Ltd. earlier this month, even as the stock plummeted. However, it wasn’t a question of loyalty to the company once known as MacDonald Dettwiler & Associates Ltd., a stalwart of the country’s technology industry. Instead, thanks to a quirk of a seemingly minor corporate transaction, the company’s Canadian stockholders possessed no shares to sell over two trading days when investors punished Maxar. To place a successful “sell” order those two days, a Canadian Maxar shareholder likely required extra help from their brokerage. Story continues below advertisement Before the markets opened on Monday morning, Jan. 7, Maxar said its major image-generating satellite had failed, costing it tens of millions of dollars in revenue. By the end of Tuesday’s trading, as multiple stock analysts reacted with downgrades, the shares had fallen more than 5 per cent. The sto
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