Wall Street Fever: New Issue Speculation Is Out of Control

HAS speculation got out of hand on Wall Street? Many Wall Streeters fear that in some areas it has. The stock exchanges, acutely aware of the rising fever in the big bull market, are doing what they can to tamp it. The New York Stock Exchange announced last week that it will tighten up its requirements for getting a stock listed. The American Stock Exchange, for the first time in its history, put a ban on stop orders—automatic orders to sell a stock once it reaches a specified price during a decline—on all...

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