Easdaq was infested by scam ridden companies a la Turbodyne etc... it was merely a European Version of the OTCBB.
Nasdaq will likely burn a few dollars here, which is good - it feeds some hungry mouths, and then close shop again.
They have to deal with reluctant fund managers, as the german individuals after having been burnt buying risky tech stock are being burnt again - being invested in bonds.
Now they pay off their debts or put the money into savings accounts again (fed by the pressure to care for the individual pension plans after the states gradually give up on guaranteeing adequate pensions).
28000 shares in 39 companies, well thats hardly a ticket per company for that trading day. I think they forgot that several more times of that trade in the foreign segment of the Frankfurt Stock Exchange (but these are foreign stocks and not Nasdaq-Euro listed or German stocks), a fully computerised and well integrated platform.
Nasdaq officials said they hope to attract investors who used
to trade on the Neuer Markt, a German high-tech market that closed
in October, according to a report in the Financial Times.
The neuer markt is moribund (as for its trading volumina) but not closed. Its future contract (Nemax-50) is still trading and there will be a transition into the German Midcap, Small Cap and a new "premium market" anytime soon. Nasdaq will have some tough competition. With its "partners" - the regional Berlin, Bremen exchanges that will obviously turn out into a huge success. |
