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

Page: https://stenobird.com/podcast/ibkr-podcasts-5831457/what-s-happening-to-the-small-cap-universe
Text version: https://stenobird.com/podcast/ibkr-podcasts-5831457/what-s-happening-to-the-small-cap-universe.md
Podcast: [IBKR Podcasts](https://stenobird.com/podcast/ibkr-podcasts-5831457)
Published: 2026-06-03T16:42:58+00:00
Episode link: https://interactive-brokers-podcast.podbean.com/e/what-s-happening-to-the-small-cap-universe/
Audio file: https://mcdn.podbean.com/mf/web/z3xn2r6ujs8qyjnr/pod-20260521-nasdaq_final_disclosures_mixdown.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/ibkr-podcasts-5831457/episodes/what-s-happening-to-the-small-cap-universe
Duration seconds: 917

## Resource

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.

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/ibkr-podcasts-5831457/episodes/what-s-happening-to-the-small-cap-universe/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/ibkr-podcasts-5831457/what-s-happening-to-the-small-cap-universe.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.