T-Mobile US announced it will be moving from the New York Stock Exchange to the Nasdaq Global Select Market effective Oct. 26 after market close.
“As America’s Un-carrier, we’re all about unleashing wireless for all Americans,” J. Braxton Carter, CFO for T-Mobile US, said. “Our business model is industry innovation and disruption. We can’t get to what’s next fast enough. So we’re thrilled to be joining all the other future-focused innovators listed on Nasdaq. This is going to be fun.”
The move comes on the back of strong performance this year. T-Mobile US stocks have climbed 48% so far while rivals, AT&T and Verizon Communications have declined.
“We are proud to welcome T-Mobile US to the Nasdaq family and look forward to a successful partnership with the company and its shareholders,” Bruce Aust, VC at Nasdaq said. “T-Mobile US is one of the country’s most recognized technology brands and will join 72% of all public technology companies listed in the U.S. with its transfer to Nasdaq.”
The carrier will continue to use the trade symbol “TMUS” for regular stock and “TMUSP” for preferred stock in its new home on the Nasdaq.
The Bellevue, Wash.-based company, which has approximately 59 million subscribers, has reported steady profits through the first two quarters of 2015 and the company said it expects that trend to continue through the rest of the year.
The transition is expected to be smooth for investors and shareholders.
