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Non-Tech : UAI - Unistar - BB reverse merger that moved to AMEX
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To: RockyBalboa who wrote (88)8/8/1999 1:09:00 AM
From: Q.  Read Replies (1) of 133
 
here's a reason lousy companies may be showing up on AMEX now:

I read an article in the NY Times about two weeks ago that said when the NASD bought AMEX, the NASD promised they would come up with a large number of new companies listed on AMEX, but has not come close to meeting these goals, and is under pressure to come up with more.

I don't remember the numbers, but they might have been something like 200 new listings as the goal and only 60 actually delivered.

If you think about it, where would AMEX come up with over 100 new companies? Unless they are IPO's, they would have to come from another exchange, and bulletin-board stocks are the most obvious source. So I would guess AMEX must have its analysts scouring the BB's for stocks with sufficient market cap and net tangible assets to get listed, and then contacting the companies to try to convince them to list with AMEX. That would explain junk like UAI showing up on AMEX.
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