RE:It is clear to me some fuken yoyos and manipulators https://financialpost.com/investing/cross-listings-dont-always-pay-off-for-investors-in-the-end
“Another compelling takeaway is the number of U.S. accounts that are restricted from buying international securities — when a TSX company creates a U.S. market on OTCQX, those investors suddenly become accessible.”
The Laval and Caisse researchers believe these advantages have a positive effect on share price prior to a new cross-listing, but less so after the fact.
They noted a one-year abnormal performance of 22% before cross-listing, but performance generally flattens afterward.
This latter point differs from several other studies over the years that have shown cross-listings more often than not represent a losing proposition for investors in the long run.
“We confirm the strong rally before the cross-listing of Canadian firms in the U.S. markets,” the researchers said. “However, previous evidence of a significant aftermarket underperformance of newly listed Canadian companies proves to be less robust when rigorous methodologies are applied.”