Former Bourse CEO Recommends Blue Chips

A former capital market official has recommended authorities in charge not to waste liquidity from the National Development Fund of Iran for investing in penny stocks.  
In a talk with IRIB news, Mostafa Omid-Qaemi, a former CEO of the junior equity market Iran Fara Bourse, referred to a plan that involves tapping the sovereign wealth fund to prop up the Tehran stock market after its main index plunged 30% in two months. 
“It is not wise to use public resources for buying shares lacking potential value,” he said.