The Nanosys IPO already has owners of investing web sites salivating, and has generated such a torrent of ill informed comment that we have had to call in specialists to help us out with our overflowing trash cans.
Typical is NanotechnologyInvestment.com who proudly inform us that "Nanotech Investor Portal Reports Nanotech Gains Respect from Wall Street as Nanosys, Inc. Files and Merrill Lynch Nanotech Index Launched," (pardon????) oh, and "the global annual industrial production in the nanotech sectors is estimated to exceed $1 trillion in the next 10 to 15 years." Let's hear it for original research.
It's always instructive to take a quick peek at the web sites offering these insights, and their company descriptions.
As a rough rule of thumb, anything that starts by talking about a trillion dollar market starts a site or company heading in the direction of our trash compactor.
Nanotechnology is tricky enough, as our corporate clients know, and we don't want to see small investors burned by poor advice from people who havenít checked their facts.
(We slightly apologize for singling out this particular bunch of chancers, they just happened to be at the top of the heap, there are plenty more where this one came from, and you may catch your spouse, kids or neighbours up to something similar in the coming months, if so we'll be knocking at your door. You have been warned!)
We chuckled at the apparent lack of websites or stock tickers for those little known German companies Degussa and Henkel (tip: type the company name into the address bar of your browser and press ctrl+enter), and the apparent lack of any relevance to nanotechnology of the company descriptions, and by the way remind us what Obducat do?
Once the dust settles on the Nanosys anouncement we will be giving a more detailed and sober assessment, and looking at some potential conflicts of interest and alleged bending of SEC rules.
For the moment we'll sit back for a few days and enjoy the show.
Posted by Cientifica at April 24, 2004 07:43 PM