The NASDAQ OMX Group (Nasdaq:NDAQ) the world's largest exchange company, announced today that Ener1 has switched from NYSE Alternext to NASDAQ effective January 2, 2009. Ener1 will trade under ticker symbol HEV.
This marks the first switch for NASDAQ from the NYSE in 2009.
In 2008, NASDAQ had a total of eight switches from the NYSE with a total market capitalization of $72.6 billion. Switches from NYSE to NASDAQ in 2008 included:
News Corporation, 12/29/2008 - $23,074.8MMylan Laboratories, 12/29/2008 - $2,940.4M Jack in the Box, 12/15/2008 - $1,105.8M Automatic Data Processing, 10/21/2008 - $18,030.0M Seagate Technology, 9/16/2008 - $5,898.5MCME Group, 7/14/2008 - $16,127.2MCelera Corporation, 7/1/2008 - $920.8MCA, Inc., 4/28/2008 - $11,638.5M
The Ener1 switch follows the recent announcement that News Corporation has switched from NYSE to NASDAQ effective December 29, 2008.
"We are honored that Ener1 has chosen to list on The NASDAQ Stock Market," said Bruce Aust, Executive Vice President, Corporate Client Group, NASDAQ OMX. "Ener1 brings innovation to the automotive industry with clean and efficient energy sources and it exemplifies the leadership that defines NASDAQ and its listed companies," he added.
"Ener1 marks the first switch from the NYSE to NASDAQ in 2009 and we look forward to more companies switching to NASDAQ in the New Year," said Aust.
"We believe that NASDAQ's electronic multiple market maker structure will provide our company with enhanced exposure and liquidity, at the same time providing investors with the best prices, the fastest execution and the lowest cost per trade," said Charles Gassenheimer, Chairman & CEO of Ener1.