JDSU and JDU.TO, arbitrage opportunity ?
 

JDSU closed at USD7.16 on NASDAQ, and JDU closed at CAD14.64 on TORONTO EXCHANGE. Using the current exchange rate 1USD=1.6CAD, we get the difference 14.64-7.16*1.6=3.18, which gives a

21.7% gap. This gap has been there for quite a while now, does anyone know why ?

Maybe CAD/USD is heading lower, but this does not

explain that such gap does not exist for other stocks, such as NORTEL, trading both in US and Canada.