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Recent data shows that 36% of all NASDAQ
companies have no research coverage and that 46% of NYSE companies,
with floats of under $250mm, have no coverage. Over the past
ten years, there has been a general shrinking of the number
of brokerage firms from approximately 40 key players to about
25 today. One factor that has occurred with this diminution
is that many firms have been forced by industry conditions
to provide research and banking services to relatively larger
corporations. This has left a partial void for very small
corporations.
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