Commentary

Jared Dillian
Traders Magazine Online News

Was it Worth It?

In this piece from 10th Man, author Jared Dillian discusses how the ETF revolution is less about ETFs and more about indexing; about how people have come to view stocks less as stocks and more as blobs of stocks.

Traders Poll

Would you feel better if the Chicago Stock Exchange were purchased by U.S. firm or consortium rather than a foreign one?

Yes

73%

No

4%

Doesn't matter to me

23%

Free Site Registration

February 1, 2004

Bringing Penny Stocks Up to Date

By Gregory Bresiger

The definition of a penny stock, last updated over a decade ago, would be changed under rules revisions pending with the Securities and Exchange Commission. Under the proposed amendments, 3a51-1, penny stock exclusions would be revised. One of the permitted exclusions, under the new rules, would allow an exchange registered security to qualify if "the exchange on which it is registered has been continuously registered since the Commission initially adopted the penny stock rules," according to the SEC.

Nevertheless, the SEC notes that despite moves towards more transparent penny stock markets - a market which often attracts the sharks - "a persistent pattern of abuse continues to exist with regard to the trading of these low-priced, thinly-traded securities."