Tuesday, November 28, 2006

The Power of Uranium - Energy Metals Gets NYSE Listing

I think I mentioned this before. There aren't too many Uranium stocks trading in the American markets. And yet the US Markets continue to be the best place in the world to raise capital. Many of the Canucks realize that, so there's a Canadian Uranium company by the name of Energy Metals who is going to take advantage of this unique situation by listing in the NYSE, and is set to start trading tomorrow. Energy Metals currently trades as EMC on the TSX, but it will have the symbol EMU on the NYSE (because some other silly company already took the ticker EMC - go figure!). Many Canadian Oil and Gas companies also chose to list on the NYSE instead of the NASDAQ. Apparently, what I've heard is that the NYSE is supposed to be a less volatile market. Not sure if this is fact or fiction, perhaps someone can confirm/deny this.
Anyways, it will be very interesting (at least for me) to see how this listing will perform. I see this almost as a barometer of the US market demand for Uranium stocks. It's considered almost to be an IPO. And I noticed a bit of frontrunning took place already today in the Canadian stock ahead of the debut of the American version.

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