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Globe says TSX Venture Exchange is in the dumps

2017-06-05 07:56 ET - In the News

Also In the News (C-CDN) CanaDream Corp

The Globe and Mail reports in its Saturday, June 3, edition that as a potential top stock pick, CanaDream ($1.83) ticks all the boxes. The Globe's Tim Shufelt writes that it has a respected management, a culture of innovation, good growth prospects, a strong record of profitability and a bargain-basement valuation. However, the company has one key flaw -- it is a small-cap stock trading on the TSX Venture Exchange, which ensures it goes ignored. A few weeks ago, CanaDream entered into a deal to be acquired by an Australian company. By mid-July, it should cease trading on the TSX-V. Across North America, the roster of publicly traded stocks is in systematic decline. The number of initial public offerings in Canada and the United States has steadily dropped over the last several years, while the ranks of existing public companies are being thinned by a wave of mergers and acquisitions. Nowhere are those trends more prevalent than in the small-cap space, and on the TSX-V in particular. The numbers are grim. There are almost 40 per cent fewer TSX-V listings than there were 15 years ago. Trading volume last year was down more than 80 per cent from five years ago.

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