Are there any stocks on NASDQ or other electronic exchange that have no bid price displayed? I have never seen such stock but surely there must be a situation that no one wants to buy some worthless stock.
NASDAQ has high standards for companies they agree to list. Requirements specify that a company must have an average trade volume of 1.1 million over the past 12 months prior to being accepted. So, in order to qualify to trade on the exchange the company must already have shares that are in high demand. Additionally, the rules specify that the company must maintain a minimum bid price of $1 or it risks getting delisted.
So, it may be theoretically possible for a short amount of time but if the situation continues, they’ll be kicked off. That said, with so many billions of trades happening every day, many of them performed by bots, it's difficult to imagine a scenario where there are zero bids at any given time. This is why you probably won’t find “worthless” stocks on the NASDAQ. Most other major exchanges have similar requirements but I’m sure there are exceptions.