Post by
rehsifylf on Jan 14, 2016 10:03am
Nasdaq versus TSX
Its interesting to me to see the volumes traded on each exchange. According to a presentation from STB in Oct 14. 65% of the shares are owned by Canadians, 20% in the US, and 15% from France (SNCF). France sold some early this year. In any event, the vast majority of shares are in Canada. On any of the days where there was a big drop in STP over the past few months, it was precipitated by a large sale on the US exchange (including this morning where 150000 shares got dumped on the US exchange in the first 10 minutes. It makes no sense to have the same or more volume traded on the US exchange when there are at least 3 times more shares owned in Canada. Unless - there is significant naked shorting of shares in the US. And these shares are being shorted back and forth to the same entity as they move the price down.
Comment by
pjn0987654321 on Jan 14, 2016 2:09pm
With the benefit of hindsight, that NASDAQ listing was a mistake. We never used to have these games when we were just on the TSX.