Trading in WestJet Shaes Probed
Stock market regulators are scrutinizing trading in shares of WestJet Airlines Inc. in the days leading up to the dramatic collapse of its rival, Jetsgo Corp.
WestJet shares soared Friday when the stock market opened hours after Jetsgo shut down its operations and announced it would seek bankruptcy protection. WestJet stock climbed again yesterday, meaning anyone who bought shares before Friday made a killing.
Last Wednesday, nearly 3 million WestJet shares, worth about $35 million, changed hands. Then Thursday, 1 million were traded. The volume both days was well above the average 410,000 shares that have traded daily in the past six months....
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