One reason the Fidelity placement is so important is because they are the first big US institutional investor, and their position in CLQ will clear the way for others.
A lot of these funds, especially retirement funds, have criteria that rule out large classes of stocks, such as spec miners. And even most ETFs are usually based on market caps in larger established markets, so
more investment capital has administrative guidlines that keep investment support away from stocks like
CLQ, ARL, AUZ, COB etc.
For example, RW Baird is another big US firm. I have some retirement funds with them.
They will not buy any small foreign stocks for me...even stocks with $2 billion market cap like Ivanhoe Mines are off-limits. None of the Australian cobalt spec miners that we follow are eligible.
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clq price drop, page-193
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