NDAQ - Nasdaq: Green Shoots As We Start 2024

2024-01-29 04:11:19 ET

Summary

• Nasdaq's investment thesis has been impacted by its $10 billion deal for Adenza, raising concerns among investors.
• Despite the deal, Nasdaq's own business is showing stronger operating momentum and positive green shoots, improving prospects for 2024.
• The Adenza deal closed in November, and with lower interest rates and improving equity markets, Nasdaq's outlook is improving.

The investment thesis around Nasdaq ( NDAQ ) has been massively impacted by a >$10 billion deal for Adenza which the company announced in June of last year. This deal raised some eyebrows with investors, and in August I had to conclude that worries on the deal overhang were not taken away....

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