NorthWest Biotherapeutics Inc (NWBO)

[JerryCampbell]

Correct. Passive assets under management are huge, and with wide ranging implications.

Let's tie it to nwbo first, and the cost of no longer being on NASDAQ. I imagine that passive demand for 25m to 50m shares might just nudge the price about $0.34 that seems so hard to pass.

What about governance? Are Vanguard and Blackrock going to be vigilant about holding management accountable? In the same way that active or activist investors would?

One of the key tenets of passive investing is that market prices tend to be accurate. If passive gets too big, the price discovery mechanism starts to fail. Rather ironic that investing based on efficient markets might ultimately render those same markets inefficient.