The competition between the New York Stock Exchange and the Nasdaq market is intense not only for new issues, but over existing stock listings as well. Viacom announced that it is moving its common stock listings from the NYSE to Nasdaq in a cost-saving move.
Viacom said it is moving to the Nasdaq Global Select Market from the NYSE effective December 1st.
The company said that the voluntary transfer to the Nasdaq exchange “will be more cost effective, while continuing to provide Viacom shareholders with strong execution and liquidity.” Viacom’s Class A (voting) common stock will trade on Nasdaq under the symbol “VIA” and its Class B (non-voting) common stock will trade under the symbol “VIAB.”
