Larger-than-life cinema specialist IMAX
Don't worry, there is no delisting action behind this move and the company is not in trouble. Instead, IMAX is moving its shares to the NYSE stock exchange. Citing "the global nature and expansion of our brand," IMAX CEO Richard Gelfond explained that the move gives IMAX access to the markets it intends to reach, presumably in ways that a Nasdaq listing couldn't. Keeping investor confusion to a minimum, the four-letter ticker symbol will stay the same even after moving into the typically three-letter neighborhood of NYSE.
This is not a unique move by any means. Last February, stock broker Charles Schwab
Vodafone cited lower listing fees as a reason to move to the Nasdaq OMX
Schwab has indeed raised new debt since going NYSE but used only $150 million to acquire Windhaven Investment Management, so not exactly a spending spree there. Does IMAX have a big, expensive growth plan in the works? Only time will tell, but this market move could be an early sign.
Fool contributor Anders Bylund holds no position in any of the companies discussed here. All these three-letter Nasdaq listings and four-letter NYSE tickers are making him dizzy. Nasdaq OMX Group and Vodafone Group are Motley Fool Inside Value selections. IMAX and NYSE Euronext are Motley Fool Rule Breakers picks. Hasbro and Charles Schwab are Motley Fool Stock Advisor recommendations. Hasbro is a Motley Fool Income Investor recommendation. The Fool owns shares of Nasdaq OMX Group. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. You can check out Anders' holdings and a concise bio if you like, and The Motley Fool is investors writing for investors.