Penny stocks removed from exchange

Amsterdam stock exchange is to take measures to remove shares trading at under one euro – so called penny stocks – from the bourse. ‘These shares make major swings and that can be difficult for investors who do not trade often,’ a spokesman told ANP.

Instead, the stock exchange wants companies with cheap shares to carry out a ‘reverse stock split’ and merge two or more shares into one. Eleven companies currently trade at under one euro including Tie, Versatel, Tulip Computers and Rood Technology.

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