Why is Marketaxess droppingI am a holder of marketaxess long-term and will not sell out until it hits $1000 a share. However, it had dropped significantly from its high of $606 to nearly $515. Does anyone know why? Is it just insiders/institutions selling the high or something more?
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I expect there’s a short-term impact from interest rates normalizing post-election, which might have cut into the trading volume of bonds (over the past three months, the sock has traded more or less in line with the 10-year note rate). Just a guess, I have not looked at their financials recently and haven’t owned this one (more’s the pity, it’s been very successful so far and it should have been obvious in retrospect — the world of bond trading exchanges has been stuck in the dark ages while stocks moved on, and they seem to have been the ones to finally move the ball forward on improving that).