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Whenever any of these automated systems indicate unusual price or volume in a stock, Nasdaq Market Surveillance analysts determine if this was the result of legitimate market forces or perhaps a violation of rules. Among other things, analysts review press releases, look at historical trading activity, and interview brokers, market makers, and Nasdaqlisted company officials. Market Surveillance continues its inquiries until unusual movements are adequately explained. |
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If legitimate market forces were at work, the case is closed without action. If it appears rule violations have occurred, a disciplinary action is initiated. When corporate insiders or members of the investing public are involved in a potential violation, the case will be referred to the SEC. |
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Material news News released by a Nasdaq company that might reasonably be expected to affect the value of a company's securities or influence investors' decisions. Material news includes information regarding corporate events of an unusual and nonrecurring nature, news of tender offers, unusually good or bad earnings reports, and a stock split or stock dividend. (See also Trading halt.) |
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Momentum The rate of acceleration of an economic, price, or volume movement. An economy with strong growth that is likely to continue is said to have a lot of momentum. In the stock market, technical analysts study stock momentum by charting price and volume trends. What goes up, however, must come down. |
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Most active The most active Nasdaq national market stocks. |
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Nasdaq International Ltd. A subsidiary of the NASD headquartered in London, England. Its mission is to support NASD members in London, serve as a liaison to international companies seeking to list securities on Nasdaq, encourage foreign institutional participation in Nasdaq stocks, and heighten the international image of the NASD and its markets. |
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Nasdaq International Service An extension to the Nasdaq stock market's trading systems that allows early morning trading from 3:30 to 9:00 a.m. EST on each U.S. trading day. This Nasdaq service enables participants to monitor trades during London market hours. NASD members are eligible to participate in this session through their U.S. trading facilities or through those of an approved U.K. affiliate. |
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Nasdaq national market securities The Nasdaq national market consists of over 3000 companies that have a national or international shareholder base, have applied for listing, meet stringent financial requirements, and agree to specific corporate governance standards. To list initially, companies are required to have significant net tangible assets or operating income, a minimum public float of 500,000 shares, at least 400 shareholders, and a bid price of at least $5. The Nasdaq national market operates from 9:30 a.m. to 4:00 p.m. EST, with extended trading in SelectNet from 8:00 a.m. to 9:30 a.m. EST and from 4:00 p.m. to 5:15 p.m. EST. |
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