# What’s Happening to the Small-Cap Universe?

An episode of [IBKR Podcasts](https://invisiblenetwork.ai/podcast/1609070179), 3 Jun 2026, 15 min.

Audio: https://mcdn.podbean.com/mf/web/z3xn2r6ujs8qyjnr/pod-20260521-nasdaq_final_disclosures_mixdown.mp3

In this IBKR Podcast episode, Nasdaq's Michael Normyle joins Jeff Praissman to examine the dramatic decline in publicly listed small-cap companies and the factors driving it, including mergers, delistings, fewer IPOs and the growth of private capital.

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