I was quite pleased with the manner in which Global pursued their AMEX listing. Unless I missed something, they just submitted the application, and kept quiet about it. Good to see a company that avoids the usual hype and nonsense that seems to surround applications for listings.
I bought some GLELF at what I thought was a pretty risky price, of $1.57. This was right after a very significant run, and felt it could have a very significant retracement. It retraced, but not as much as I expected, so glad I did get in when I did.
(And what a pain in the butt buying it - I called TD Waterhouse, thinking they could buy it on the TSE, since they are Canadian-owned brokerage. They fumbled-around for a few minutes, and figured-out that it could be bought on the pinks as GLELF. I took a big breath and had them go ahead and buy at market.)
I don't normally buy low-priced or OTC stocks, but my research led me to this as the only pure-play in election technology. They have significant market-share, and the price (P/E) was right, and I figured some kind of U.S. listing would be forthcoming.
One point of confusion that should be cleared-up in the market shortly is that until this week, I thought this was a Canadian company, and that that might be somewhat of a detrement in the U.S. market, with some "patriotic" forces wanting to buy systems from an American company. But it appears that they are headquarters in W's backyard, in Texas. They are listed on the TSE, and have their annual meeting in Vancouver, so I can see how people can be confused... (LOL, I'm STILL confused - why do they have their annual meeting in Vancouver?) I guess they listed where they could get listed.
I don't think a double within the near term (say, within a month of the listing) is at all unreasonable. |
