Nasdaq loses Red Hat to NYSE
UPDATE:
Here's an interview from Dow Jones (Marketplace) with RHT Chairman and CEO, Matthew Szulik, from this morning as he comments on his firm's great choice to get Listed. Since this video may eventually get removed from the website (and this link will be no good), here's a quote of what Mr. Szulik says towards the very end of this vignette:
Marketwatch's Steve Gelsi:
"...Now that you're [Listed] on the NYSE, are you looking for less volatility?"
Szulik: "Certainly, that was part of our thinking, Steve. We thought that the use of specialists and the technical direction that the NYSE is heading in will give our shareholders, hopefully, less and less volatility in their trading ranges."
It's great to see a revolutionary company like Red Hat align itself with a revolutionary, global powerhouse like the NYX. If shares could speak, RHT would be singing Kumbaya.
### END OF UPDATE ###
In yet another example of NYX's dominant market position, Red Hat (formerly, RHAT), has decided to move to the world's most advanced stock market -- the NYSE. Beginning today, they'll trade under the ticker, "RHT."
As part of the Nasdaq 100 (QQQQ), RHAT was a core listing for Nasdaq. To be sure, Nasdaq was once considered the destination for firms that valued technology and progressive thinking. However, the NYSE/AX integration has created the most innovative and advanced stock market in the world.
This is a big win for NYX and is a reflection how the landscape has changed.
Under the new landscape, a company like RHT, which was formed in 1993, could initially list on NYSE Arca if they didn't meet the listing requirements of the Big Board. On NYSE Arca they'd enjoy openness, fairness, and strict price-time priority (Click here for more advantages to a NYSE Arca listing).
NYSE Arca serves as a wonderful destination for firms to list and work towards achieving a Big Board listing as the company grows. As NYSE Arca/NYSE gain traction in attracting traditionally Nasdaq style listings (like RHT), NDAQ will likely turn into a dollar-store-like market for financially inferior firms to trade their shares.
So now American Eagle Outfitters replaces RHT in the Nasdaq 100. That just seems odd. Suppose if AEOS could talk, a share would be singing the Monkees, "What am I Doing Hanging Around?"
Here's an interview from Dow Jones (Marketplace) with RHT Chairman and CEO, Matthew Szulik, from this morning as he comments on his firm's great choice to get Listed. Since this video may eventually get removed from the website (and this link will be no good), here's a quote of what Mr. Szulik says towards the very end of this vignette:
Marketwatch's Steve Gelsi:
"...Now that you're [Listed] on the NYSE, are you looking for less volatility?"
Szulik: "Certainly, that was part of our thinking, Steve. We thought that the use of specialists and the technical direction that the NYSE is heading in will give our shareholders, hopefully, less and less volatility in their trading ranges."
It's great to see a revolutionary company like Red Hat align itself with a revolutionary, global powerhouse like the NYX. If shares could speak, RHT would be singing Kumbaya.
### END OF UPDATE ###
In yet another example of NYX's dominant market position, Red Hat (formerly, RHAT), has decided to move to the world's most advanced stock market -- the NYSE. Beginning today, they'll trade under the ticker, "RHT."
As part of the Nasdaq 100 (QQQQ), RHAT was a core listing for Nasdaq. To be sure, Nasdaq was once considered the destination for firms that valued technology and progressive thinking. However, the NYSE/AX integration has created the most innovative and advanced stock market in the world.
This is a big win for NYX and is a reflection how the landscape has changed.
Under the new landscape, a company like RHT, which was formed in 1993, could initially list on NYSE Arca if they didn't meet the listing requirements of the Big Board. On NYSE Arca they'd enjoy openness, fairness, and strict price-time priority (Click here for more advantages to a NYSE Arca listing).
NYSE Arca serves as a wonderful destination for firms to list and work towards achieving a Big Board listing as the company grows. As NYSE Arca/NYSE gain traction in attracting traditionally Nasdaq style listings (like RHT), NDAQ will likely turn into a dollar-store-like market for financially inferior firms to trade their shares.
So now American Eagle Outfitters replaces RHT in the Nasdaq 100. That just seems odd. Suppose if AEOS could talk, a share would be singing the Monkees, "What am I Doing Hanging Around?"
posted by . at 8:33 AM
2 Comments:
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Where are the article(s) examining NYSE loss of E-Trade to the Nasdaq?
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