Scorpio Gold ADRs Falter Following Erroneous Trading Halt

A technical glitch triggered a chaotic Wednesday session for Scorpio Gold, as American depositary receipts swung wildly after an mistaken trading halt. Shares initially surged to $11.66 before regulators paused activity, eventually cooling to a 51% gain at $7.67 as the company scrambled to clarify the error.

Yesterday, 23:37· Money Talk· 1,669 reads

Scorpio Gold ADRs Falter Following Erroneous Trading Halt

The company, currently in its second day of trading on the Nasdaq, confirmed that both the exchange and the Canadian Investment Regulatory Organization halted the stock under the false pretense of pending news. Management formally requested a resumption of trading for both ADRs and common shares once the error was identified.

Investor enthusiasm had been driven by positive results from the Phase Two drill program at the Manhattan District Project in Nevada, released earlier in the day. Following the mid-afternoon restart, Scorpio’s TSXV-listed shares climbed 17% to 42 Canadian cents, while OTCQB-listed shares rose 25% to 30 U.S. cents.

Scorpio Gold ADRs Falter Following Erroneous Trading Halt

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