Nasdaq Inc is trading 4.2% down at $85.53 after its Nasdaq Private Market unit filed a lawsuit against rival platform Hiive alleging trade secret theft and intellectual property infringement.
- The legal action has sparked investor concern regarding potential competitive and regulatory implications for the company's private market operations.
- The stock is significantly underperforming the broader Nasdaq Composite, suggesting the decline is tied to the specific legal dispute rather than broader market or cryptocurrency trends.