13:51:57 EDT Tue 21 May 2024
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Pure last; TSX-V ignores zombies, cheers on top 50

2013-02-21 21:33 ET - Street Wire

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by Stockwatch Business Reporter

Alternative trading systems handled 33.6 per cent of Canadian volume during the week ended Feb. 15, 2013. Alpha Exchange held onto its lead with an average of 124 million shares a day for 16.8 per cent of volume. Chi-X Canada traded an average of 72 million shares a day for 9.8 per cent. Omega ATS took third place with 20 million shares a day for 2.7 per cent. Dark pool Match Now handled 11.4 million shares a day for 1.5 per cent. TMX Select handled 10.6 million shares for 1.4 per cent, beating out Pure Trading with 9.6 million shares a day for 1.3 per cent. Together, the Toronto Stock Exchange and the TSX Venture Exchange handled 66.4 per cent.

Looking at those stocks listed only on the TSX, the exchange had 60 per cent of volume. Alpha handled 19 per cent, Chi-X handled 11.7 per cent and the other ATSs had the remaining 9.3 per cent.

The TMX Group continued to advertise the fine companies listed on its exchanges last week, releasing the 2013 TSX-V 50. The TSX-V says it selected these 50 companies based on market-capitalization growth, share-price appreciation, trading volume and analyst coverage. The highest ranked company overall is Africa Oil Corp. After finding oil in Kenya last spring, the company's market cap climbed to $2.48-billion, up from $395-million at the beginning of the year, as the stock hit a high of $11.35 in May, 2012, up from $1.81 in February. During that time the stock traded an average of 2.5 million shares a day. Eighteen analysts are covering the stock.

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Hopefully the large zombie army of smelly companies will be off the board before the NHL training camp opens later this year. At least the coffee bars and eateries are no longer clogged with mewling zombies as they tend to stay home or barricaded in their offices - not answering their phones and hiding from their landlords.

Posted by Phatter Dean at 2013-02-26 11:12


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