Fort Lauderdale, Florida (PRWEB) November 22, 2006
Newbridge Securities Corporation today announced the quarterly rebalancing and reconstitution of its Newbridge Nanotechnology Index (NYSEArca: NNIX).
We removed one constituent this quarter, reducing the total number of companies included to 24. Constituents subject to the 10% index weight cap were Headwaters (NYSE: HW), FEI Co. (NasdaqGM: FEIC), Amcol (NYSE: ACO), and Symyx Technologies (NasdaqGS: SMMX). The NNIX ended the quarterly period at 883.25, up 7.8% from the last rebalance on August 18.
We have removed JMAR Technologies (NasdaqCM: JMAR) from the NNIX due to its failure to maintain compliance with Nasdaq requirements for continued listing, which also serve as basic criteria for inclusion in the NNIX. On November 9, the company received notice from Nasdaq that it was not in compliance with the minimum $1.00 per share bid price requirement for continued listing, having passed the 180-day grace period since the non-compliance was triggered on May 12. JMAR is not eligible for an additional compliance period because it does not meet the initial listing requirements of minimum shareholder's equity of $2.5M or market cap of $35M. If JMAR is able to regain compliance or move its listing to another major U.S. exchange, we may then reconsider the company for inclusion in the NNIX.
The Newbridge Nanotechnology Index (NNIX) has been constructed to track the stock market performance of companies that are currently active in nanotechnology. The Index is comprised of companies whose operations, based on our assessment of products, intellectual property, research initiatives and partnerships, include a significant focus on nanotechnology. Only companies with common stock or ADRs listed on a national market or exchange in the U.S. are eligible. The base date for the Index is June 30, 2004, at which time the base value for the Index was set at 1000. The NNIX is market cap weighted, rebalanced quarterly, and now includes 24 companies.
About Newbridge Securities Corporation
Newbridge is a full-service securities brokerage firm (Member: NASD & SIPC) and a subsidiary of Newbridge Financial, Inc., an integrated financial services company. The Newbridge Institutional Research department specializes in the analysis and coverage of companies that have a strategic focus on nanotechnology. More information is available at our websites http://www.newbridgereports.com and http://www.newbridgesecurities.com.
For important disclosures please visit: http://www.newbridgesecurities.com/research_rpt_discl.html. Additional information is available upon request. Contact: David M. Keiter, Director of Research, 954-334-3450 x115.