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34 bytes removed, 16:55, 14 April 2008
Preferred stocks, by contrast, usually pay a guaranteed dividend for the life of the issuer, and their holders get better treatment than common-stockholders if the issuer declares bankruptcy. However, preferred stocks can also be repurchased - usually above market value - by the issuer at any time. Some investors consider preferred shares a midpoint in securities risk between [[bonds]] and common stock <ref>{{cite web|url=|name=Stock basics: Different types of stocks||date=April 14, 2008}}</ref>.
Some corporations issue different classes of stocks to separate groups of shareholders to give them greater or lesser voting powers. Such corporations in the U.S. typically issue class A and class B shares and give significantly greater voting rights to class A shares. A corporation's first public sale of its shares is called an initial public offering ([[IPO]])
==Stock investors and traders==
==New stock marketplaces==
The expansion of the Internet during the late 1990s shifted the focus of stock trading from telephone-based stock-brokers to computer-based independent and so-called 'day' traders. Although faster-paced day-trading has shifted from volatile technology-stock IPO to more liquid derivatives markets, increasing volumes of stocks are traded online and Internet sites and platforms have grown significantly in recent years. Recent research<ref>{{cite web|url=|name=Recent Growth in Nasdaq Trading Volume and Its Relation to Market Volatility|org=Social Science Research Network|date=April 14, 2008}}</ref> shows trading volume growth on the all-electronic [[NASDAQ]] exchange clearly outpacing that on the New York Stock Exchange and the American Stock Exchange in both stock numbers and in dollar values.
== References ==