First we witnessed the carnage Excellon, today is the day GoldMining Ltd (GOLD.to) moves from financial fantasyland (the TSX) to cruel reality (the NYSE). First Cahill made the ego-driven mistake, now it’s Adnani’s turn.
VANCOUVER, BC, Oct. 6, 2020 /CNW/ – GoldMining Inc. (the “Company” or “GoldMining”) (TSX: GOLD) (NYSE American: GLDG) is pleased to announce that, further to its news release dated October 1, 2020, its common shares (the “Common Shares”) will commence trading on the NYSE American under the symbol “GLDG” at the open of markets today.
The Common Shares will continue to trade on the Toronto Stock Exchange under the ticker symbol “GOLD”. Concurrent with the commencement of trading on the NYSE American, it is expected that the Common Shares will cease to be quoted on the OTCQX under the symbol “GLDLF”.
I always wondered: when a stock (like this one, but there are others like FNV) is traded both on a Canadian and USA exchange, which one do the TA wizards use to draw their Fibonaccis, trendlines, EMAs, wedges, RSIs, MACDs, cups and handles and other superb predictive tools?
The CAD to USD exchange rate isn’t exactly constant.
Although the charts will look similar in both currencies, it’s possible for the chart to look bullish in one and not the other, because USDCAD is also part of the picture. It’s the same with a chart of gold itself: it might look bullish in CAD, but not so much in USD.
Whichever trades with higher volume, on average.
What’s wrong with New York? I have more trust in a mining company where rules are enforced by the SEC, than one where rules are enforced by the Canadian authorities.
If as a CEO I wanted to do some funny stuff with my shareholders, I’d avoid the US of A.