The Globe and Mail reports in its Thursday edition that despite a solid quarter, Canaccord Genuity Group's stock plunged $1.11 to close Wednesday in Toronto at $11.36. The Globe's Tim Kiladze writes that before Canaccord posted its first quarter results, some investors had high hopes for either a special dividend or stellar earnings. Canaccord, however, failed to deliver on either front. Mr. Kiladze says the odd thing here is that Canaccord's earnings were actually pretty solid. Its investment banking fees continue to surge. Over the past two quarters, the dealer's Canadian investment banking fees amounted to $46.5-million. That compared with just $21.9-million in the same two quarters a year ago. The rebound boils down to surging markets. "Driven by robust performance on the TSX, we are experiencing a welcome recovery in financing and advisory activity in Canada," Canaccord said in a statement. If anything, the investment bank's recent stock market success is coming back to haunt its shares. Before the sell-off, Canaccord's stock had popped 95 per cent in the past year. Investors were getting ahead of themselves, such that even solid earnings would no longer look good enough.