OTCPK:STVMF - Post by User
Post by
jackpinesavageon Jan 17, 2015 11:39am
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Post# 23331284
US holders of Savanna:
US holders of Savanna:
If you are a canadian shareholder,,,SVY ugliness is bad enough.
However, if you have owned SVGYF the OTC symbol for the
company. You've been doubley hammered.
SVGYF is lucky to trade 1000 shares a day on the over the
counter pink sheet exchange in the US. It is highly illiquid
which makes it more risky, and less forgiving on the bid/ask
spread. It also has given me a double whammy as a result of
the wider disparity exchange rate between loonie and US doughnut.
At the start of 2015, the exchange rate was roughly $1.10 CA to $1.00US.
In the past week it has widened the gap nearly another 8% to $1.18-to $1.00.
The devaluation of the loonie is eroding the value in SVY @ 2.66.
SVGYF closed down friday to $2.22. Ouch!