abu_penny
19-10-2002, Sat 11:29 PM
موضوع يستحق القراءة : واسف لعدم الترجمة ولكن اعتقد انه واضح :
BOCA RATON, Fla, Oct 11 (Reuters) - Nasdaq Stock Market Chairman Hardwick Simmons said the Nasdaq may consider easing its listing standards because roughly 13 percent of the market's 3,800 stocks trade below $1 per share
About 500 (Nasdaq stocks) are actually selling at less than $1, putting us to the test as to whether or not we want to change some of our listing rules on stocks that fall below $1 just simply because some of these are real companies, with real balance sheets, with real business plans who just happen to be selling down at that particular point,"
," Simmons said in a speech at the Security Traders Association's 69th Annual Conference and Business Meeting in Boca Raton, Fla.
Simmons said he has not seen such a gloomy time in the markets since the early 1970s, but he said some of gloom is for good reason. In late 1999, the market capitalization of companies listed on the Nasdaq was roughly $6.5 trillion. Today it is $2.5 trillion, meaning $4 trillion has been erased from the pockets of investors, he said.
The Nasdaq's current listing standards state that a company's minimum bid price must be at or above $1 at the close of trading. If a stock closes trade at a price below $1 for 30 straight trading days, the Nasdaq will notify the company that it faces delisting.
If the company does not regain compliance with the minimum price within 90 calendar days, then the company can be delisted.
In order to regain compliance, the company must close with a bid price above $1 for 10 consecutive trading days within that 90-day period.
Separately, Simmons warned that the recent scandal-driven wave of efforts to tighten corporate governance could hurt smaller companies, such as those listed on the Nasdaq.
"Our industry is not one that people envy us to be in," he said.
He said half the members of a company's board of directors should be independent, but cautioned smaller companies against getting rid of directors with useful knowledge. The New York Stock Exchange is advocating independent majorities on boards of its companies.
Simmons also warned that expensing stock options could hurt small companies that do not yet have earnings but need to attract and pay qualified employees.
"We could not have built Nasdaq without stock options," he said. "It's extremely important for us that we keep them."
He also said the crackdown on Wall Street's stock research could be detrimental if analysts stop covering smaller companies.
"I am very worried about the future of research," he said. "Without research ... trading volumes have to slip. Either that, or we're going to run blind."
والله اعلم
BOCA RATON, Fla, Oct 11 (Reuters) - Nasdaq Stock Market Chairman Hardwick Simmons said the Nasdaq may consider easing its listing standards because roughly 13 percent of the market's 3,800 stocks trade below $1 per share
About 500 (Nasdaq stocks) are actually selling at less than $1, putting us to the test as to whether or not we want to change some of our listing rules on stocks that fall below $1 just simply because some of these are real companies, with real balance sheets, with real business plans who just happen to be selling down at that particular point,"
," Simmons said in a speech at the Security Traders Association's 69th Annual Conference and Business Meeting in Boca Raton, Fla.
Simmons said he has not seen such a gloomy time in the markets since the early 1970s, but he said some of gloom is for good reason. In late 1999, the market capitalization of companies listed on the Nasdaq was roughly $6.5 trillion. Today it is $2.5 trillion, meaning $4 trillion has been erased from the pockets of investors, he said.
The Nasdaq's current listing standards state that a company's minimum bid price must be at or above $1 at the close of trading. If a stock closes trade at a price below $1 for 30 straight trading days, the Nasdaq will notify the company that it faces delisting.
If the company does not regain compliance with the minimum price within 90 calendar days, then the company can be delisted.
In order to regain compliance, the company must close with a bid price above $1 for 10 consecutive trading days within that 90-day period.
Separately, Simmons warned that the recent scandal-driven wave of efforts to tighten corporate governance could hurt smaller companies, such as those listed on the Nasdaq.
"Our industry is not one that people envy us to be in," he said.
He said half the members of a company's board of directors should be independent, but cautioned smaller companies against getting rid of directors with useful knowledge. The New York Stock Exchange is advocating independent majorities on boards of its companies.
Simmons also warned that expensing stock options could hurt small companies that do not yet have earnings but need to attract and pay qualified employees.
"We could not have built Nasdaq without stock options," he said. "It's extremely important for us that we keep them."
He also said the crackdown on Wall Street's stock research could be detrimental if analysts stop covering smaller companies.
"I am very worried about the future of research," he said. "Without research ... trading volumes have to slip. Either that, or we're going to run blind."
والله اعلم