Wednesday, December 10th 2014
AMD Announces Move to Nasdaq
AMD (NYSE: AMD) today announced that it is transferring its stock exchange listing to The Nasdaq Stock Market from The New York Stock Exchange, effective after market close on December 31, 2014. AMD shares are expected to begin trading as a Nasdaq-listed security on January 2, 2015 and will continue to trade under the symbol AMD. This transfer is expected to be seamless for AMD investors and shareholders.
"We are excited to join other industry-leading technology companies listed with Nasdaq and believe this move will help AMD reach investors and shareholders more efficiently and effectively as we continue transforming the company for long-term growth," said Devinder Kumar, senior vice president and chief financial officer, AMD. "We are proud to welcome AMD to Nasdaq and look forward to a successful partnership with the company and its shareholders," said Bruce Aust, Vice Chairman at Nasdaq.
"We are excited to join other industry-leading technology companies listed with Nasdaq and believe this move will help AMD reach investors and shareholders more efficiently and effectively as we continue transforming the company for long-term growth," said Devinder Kumar, senior vice president and chief financial officer, AMD. "We are proud to welcome AMD to Nasdaq and look forward to a successful partnership with the company and its shareholders," said Bruce Aust, Vice Chairman at Nasdaq.
15 Comments on AMD Announces Move to Nasdaq
Not sure if this is a good move for AMD, seems like a sidestep. I admit I know next to nothing about stock exchanges though.
EDIT:
HumanSmoke beat me ... Anyway still below is the perceptions of NASDAQ Vs NYSE.
Link - www.diffen.com/difference/NASDAQ_vs_NYSE#Listing_Fee
Perceptions
The NASDAQ is perceived as a high-tech exchange and includes many firms that deal with the Internet or electronics. Its stocks are considered more volatile and growth oriented. Meanwhile, the NYSE is considered to be the exchange for well-established companies that have stable and established stocks.
EDIT 2: I could be wrong but I have a feeling some party is interested in purchasing AMD and might have given them some milestone target to achieve.
"In the land of the blind, the one eyed man is king."
The trouble is they simply see the products as cash-cows and have no real passion or vision for what they build. Thus they can't truly innovate and lead it back into a position of strength - they can merely keep bringing in the same old "hired guns" who are "told to fix it." But, in reality those hired guns have all of the responsibility, and none of the authority, to "actually fix it." There is a big difference between being told to fix something and actually having the authority to fix it. These folks can't fix it because they won't be allowed to.
Meanwhile the stock went from $42 per share to $2.50 per share. The move to NASDAQ reflects that reality. Thus is just another stage of "swirling down the gurgler" to further oblivion. I wish it wasn't true, but it is.
www.amd.com/en-us/who-we-are/corporate-information/leadership/lisa-su
Recently AMD has also rebuilt their enterprise graphics product line which has excellent margins and growth potential. AMD's laptop graphics has seen growth even though their desktop line up has lost some ground to Nvidia. IMO what AMD needs most right now is a quantum leap in discrete desktop and server CPU performance. That would get them firing on all cylinders and provide the product diversity and volume to facilitate continued growth. I suspect however that the CPUs that AMD needs now will not arrive until some time in 2016 and by then they'll be two years too late again... even though they will likely provide great value and performance.
I hope AMD proves me wrong but execution has been the primary stumbling block for AMD for decades. They have good engineering but getting that engineering to market in a timely manner has always been a huge challenge. Recent reports are that AMD and Global Foundries have the best business relationship they've every enjoyed and that GF is producing AMD APUs, CPUs and graphics products. This could be a good sign if GF is able to deliver the products and quality that AMD desires in a time sensitive marketplace.