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> in a company that is part of nasdaq Do you honestly think being part of the nasdaq is a sign of legitimacy?
by fourstar 5y ago
> in a company that is part of nasdaq
Do you honestly think being part of the nasdaq is a sign of legitimacy?
- xapata 5y agoYes. Do you not?
- deleted 5y ago[deleted]
- ralph84 5y agoGiven the number of garbage companies that have managed and continue to manage to get themselves listed on Nasdaq or NYSE via reverse mergers, a listing on a US stock exchange just ain't what it used to be.
- xapata 5y agoWhat ratio of bogus companies to total listed do you estimate?
- ralph84 5y agoIn the Chinese reverse merger fraud of the late 2000s/early 2010s there were hundreds of bogus companies that walked off with at least half a trillion dollars. Roughly 10X the size of the Madoff fraud. https://en.wikipedia.org/wiki/The_China_Hustle https://en.wikipedia.org/wiki/The_China_Hustle
- xapata 5y agoIs hundreds significant? It's hard to get a sense of scale without knowing the total number of listed companies.
- ralph84 5y agoNasdaq currently has 4,826 listed companies and NYSE has 3,163. So yes, I would say it's significant when the frauds are within one order of magnitude of the total.