Email from Motley fools.
From:
<FoolTools@aol.com> Add to Address Book
Date:
Thu, 9 Jul 1998 08:36:37 EDT
To:
xamir@rocketmail.com
Subject:
Re: Board Request
In a message dated 98-07-07 07:47:28 EDT, you write:
<< ROSS >>
Greetings!
We received your request to open a folder. Unfortunately, we do not open
folders for stocks that trade around or below $5 per share, bulletin
board
stocks, or stocks that trade only on foreign exchanges.
The reason for the $5 threshold is the attendant risks, as 75% of
stocks that
trade around or under $5 go onward to $0. Many of these stocks are
low-quality
companies whose prospects could be hyped by promoters. And, because of
their
thin market capitalizations, the online medium could be used
successfully by
people to move the prices on these stocks. We at the Motley Fool wish
to avoid
these situations.
For bulletin board stocks or stocks listed only on foreign exchanges,
one
issue is the inability to obtain quotes through AOL's quote system
online. The
other issue is that these stocks do not have to meet the stringent
quality
requirements of the three main US exchanges (Nasdaq, AMEX, and NYSE).
These requirements are not a comment on the stock itself but, rather,
are
attributable to our limited message board space and certain decisions
made at
Fool HQ regarding the threshold of quality a company must achieve to be
listed
on our boards.
Apologies,
FoolTools
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