We have seen a lot of “what does the failure of the Nanosys IPO mean for the nanotech industry?” type articles over the last few days. The answer is nothing. Firstly there is no "nanotechnology industry," a fact recognised by Bloomberg who categorised Nanosys as “electronic components-semiconductors.”
The failure is far more to do with markets than nanotechnology.
An IPO like Nanosys is always going to a risky bet. At the price, the markets didn’t like it. It’s not the time to take a punt, with oil prices hitting the roof at the slightest rumor of supply problems, financial institutions on terror alerts and a US election looming, most people are sitting on their wallets until November at least. As we said last week, it's just lousy timing, something we would have expected Merrill Lynch to have recognized.
Merrill seem to be making a bit of a hash of anything nano related, from failed IPOs to sloppy and rushed indices. Let’s hope they do better next time around.