Rights offerings were used decades ago almost exclusively by jr mining companies to raise capital. It was considered quick and dirty. The share price would drift to the exercise price of the rights quickly after the announcement.
I was really surprised that the SP held up for so long after the announcement. It was only after the "ex-due bills rights date" that the share prices started to move down, manily because of the large gain that was available to the current shareholders.
It is a joke that it has taken almost of week of trading before the rights will show up in my account. Who is at fault? I couldn't get a hold of someone at TD yesterday (long wait times) but other frims and other TD shareholders have their rights before me. Where is the level playing field.
I was fortunate enough to have sold my shares on Monday close to the open but would have definitely sold my rights (if I had them!) on Tuesday based on the tape action. My mistake, should have shorted the shares on Monday as well.
I'm tempted to sell my rights and wait for ANS to drift before picking up shares again.