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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts

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To: Jay Letterman who wrote (1564)	5/1/1998 5:03:00 PM
From: Bucky Katt	Read Replies (4) of 25711

Many Nasdaq companies may be dropped from rolls NEW YORK, May 1 (Reuters) - Hundreds of companies could be delisted from the Nasdaq stock market in the coming weeks as tougher listing standards go into effect. Nasdaq said it sent letters to 443 companies on Feb. 23 notifying them that they did not meet the new listing standards. Nasdaq said 29 companies voluntarily delisted, moving either to bulletin board trading or to the American Stock Exchange. The remaining more than 400 companies are going through the hearing and review process, it said. The hearings could be completed as soon as the middle of June, Nasdaq said. ''We periodically review our listing standards to make sure we're in sync with the market,'' said Nasdaq spokesman Reid Walker. ''We want to ensure there are quality companies associated with Nasdaq.'' The new rules, approved by the U.S. Securities and Exchange Commission in August, 1997, raised financial listing standards by 50 percent on both the Nasdaq National Market and the Nasdaq SmallCap market. The changes also mean that Nasdaq SmallCap listed companies must adhere to the same rules for corporate governance that previously applied only to the larger National Market. The new rules require that all Nasdaq-listed companies trade for at least $1 a share.

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