There has to be a pony in here somewhere.
ThinkEquity: The Latest Casualty of Low Trading Volume
The stock trading and research division of ThinkEquity LLC has shut its doors, effective today, according to an e-mail from one of the firm’s former analysts.
“This was very sudden and unexpected,” wrote Kimberly Lee, a biotechnology analyst with the firm, in an email to clients. She didn’t respond to requests for additional comment.
The closing was earlier announced this morning by CEO Greg Wright in an interview with Bloomberg, and he cited this year’s stock-trading volume slump as the cause.
ThinkEquity isn’t the first firm to shutter its equity trading business—and the equity research that helps sell it—as a result of the trading-volume slowdown. Auriga USA, a division of Spanish bank Auriga Global Investors Sociedad de Valores SA, closed its equity-trading and research division earlier this year for similar reasons....MORE