Canwest on the stock exchange

There are lots of questions about Canwest and the future of its many media operations, after much of the company was granted creditor protection Tuesday.

But here’s one question that’s fascinated me as shares of Canwest Global Communications  zipped up and down as though on a bungee cord. Most recently they went up to .235 from a low of .055. Trading has now been suspended and the TSX is conducting a delisting review.

Who in the world has been buying these things — and why?

PS: Another question. Is the following a responsible headline? “Canwest shares soar on Ten Network sale” — from the Sept. 24 newspaper National (make that Financial) Post  — which as of today is under creditor protection. (The story itself seemed neutral enough).

Any ethicists/analysts/securities regulators have anything to say about the role of a news organization reporting on its own stock market performance as it teeters on the edge of insolvency?