Merrill Lynchs troubled nanotech index (NNZ) adds another stock this week as a result of its quarterly rebalancing. The addition is Arrowhead Research (ARWR), which moved to the NASDAQ Small Market system in October with a market capitalisation of 58 million making it the smallest company added so far. Looking at the company, we also wonder whether ‘venture capital’ is an appropriate description.
The index has recovered a little since the last change, but still looks very much like a technology index with the only discernable effect if its nano prefix being some increased volatility. Adding another small cap stock to the index will only increase this trend.
The full list is
Company Ticker Market Cap ($) (as of 12/16/04) Specialty
ACCELRYS ACCL 209.2M Software
AMCOL INTL ACO 565.8M Materials
ALTAIR NANOTECH ALTI 151.6M Materials
ARROWHEAD RESRCH ARWR 58.4M Venture Capital
BIOSANTE PHARMA BPA 88.9M Nanobio
COMBIMATRIX CBMX 116.7M Nanobio
CABOT CORP CBT 2.327B Materials
FEI COMPANY FEIC 741.3M Instrumentation
FLAMEL TECHNOL FLML 421.2M Nanobio
HEADWATERS INC HDWR 980.1M Energy
IMMUNICON IMMC 179.5M Nanobio
JMAR TECH INC JMAR 59.0M Instrumentation
KOPIN CORP KOPN 270.9M Semis
LUMERA LMRA 122.9M Materials
M T S SYSTEMS MTSC 680.2M Instrumentation
NANOPHASE TECH NANX 141.2M Materials
NANOGEN INC NGEN 250.1M Nanobio
NOVAVAX INC NVAX 141.2M Nanobio
NVE CORP NVEC 124.9M Semis
SKYEPHARMA ADS SKYE 821.4M Nanobio
SYMYX TECH INC SMMX 964.9M Instrumentation
TEGAL CORP TGAL 78.7M Instrumentation
HARRIS & HARRIS TINY 273.1M Venture Capital
ULTRATECH INC UTEK 453.0M Instrumentation
VEECO INSTR INC VECO 617.2M Instrumentation
WESTAIM CORP WEDX 228.4M Nanobio