A theory on gold stocks - the efficient market.It is hard to believe how gold stocks have missed the move in the underlying commodity, in this case gold. But it could be oil or coal. Makes one wonder if a lot of the trading in gold is by nonhuman bots that don't see the link, or foreigners? I don't know.
At some point, I gotta think human investors will see a bargain and flock toward ETFs such as GDX, GDXJ, Sprott, and others, if not individual stocks.
That would have to lift the stocks owned by the ETF, GDXJ. That includes GSV, which has not budged so far. GDXJ's site says they own 8,109,428 shares of GSV, or 3.5% of the 232.2 million shares GSV has out. It has been reported higher. I don't know if they have sold since rebalancing.
As for crappy little explorers like NUG, and I say that affectionately. I would expect NUG would benefit from spillover as the 74 stocks owned by GDXJ, as an example, rise. Rise more than gold, percentage wise.