Here's Why A Big Blue Chip Company Is Moving From The Big Board To The Nasdaq

stock exchange trader

Photo: AP Images

Kraft Foods announced this morning that it will transfer shares to the Nasdaq from the NYSE, a major win for the tech-heavy exchange as it tries to recover from harsh blow-back it received over the Facebook IPO.”[The] decision to transfer to the NASDAQ … will yield greater cost efficiencies, while providing visibility advantages for the company’s iconic brands,” Kraft said in a statement.

Shares will begin trading on the Nasdaq under the symbol KFT on June 26.

The announcement comes ahead of Kraft’s coming divestiture of its North American grocery operations and a name change, to Mondelez International.

At that time, Kraft will trade under MDLZ on the Nasdaq, retiring the KFT ticker.

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