August 31, 2004 | Investor's Business DailyPresident Bush's stock is rising in the markets. Literally. On the smaller Iowa Electronic Markets, a market based at the Tipple School of Business at the University of Iowa, Bush's contract was quoted at $54.30 on Tuesday, compared with $46.30 for Kerry's. Another IEM contract that follows the popular vote showed Bush with a $51.33 last-trade price. Kerry's was quoted at $49.90. The IEM began as a teaching project in 1988. The market, which receives orders online, still limits orders to $500. Iowa Markets also works with the National Science Foundation and has a nonprofit tax status. As a result, trading has been limited, less than $100,000 in trades for the two presidential election contracts. "We use it as a classroom and for research," said TOM RIETZ, an associate professor of finance at the University of Iowa. "We're designed to be accurate." The story also appeared in AFX NEWS LIMITED.
Contact: Tom Rietz