Satellite TV company DirecTV announced that it will move its stock listing from the New York Stock Exchange to Nasdaq, effective December 3rd. Despite the move, DirecTV will keep its three-letter ticker symbol, DTV, rather than switch to the usual four (or more) seen at Nasdaq. "Our switch to Nasdaq was driven by our desire to achieve greater value for our investors. We believe that Nasdaq’s vision for leadership coupled with its market structure and vast product offerings will allow for improved service for us and our investors while simultaneously reducing our costs.," said Jon Rubin, senior vice president of Financial Planning and Investor Relations for The DirecTV Group Inc.
TVBR/RBR observation: It used to be that an NYSE listing meant that your company had arrived and was playing in the major leagues. No more. Nasdaq has done a very effective job of positioning itself as the stock market of technology and growth companies.
