Today T-Mobile shared plans for its stock to make the switch over to the NASDAQ Global Select Market after more than two years on the New York Stock Exchange. The transfer will be complete later this month. T-Mobile is now the nation’s third-largest wireless carrier and has made itself stand out against competitors for its nontraditional business methods, going so far as to brand itself as the “Un-carrier”. The promotions seem to be working as it posts higher growth than its competitors and passed Sprint in the number of subscribers, which is now the fourth-largest carrier in the United States. Despite its disruptive deals and price reductions, T-Mobile is expected to remain profitable until the end of 2015, as it has so far. When the company became a publicly traded corporation in 2013, its shares landed on the New York Stock Exchange under the ticker symbol TMUS, which it will keep going into the NASDAQ. The official change is scheduled to begin on October 26 after markets close.
The NASDAQ is known for the wide range of technology-centered companies that have listed their stocks within it. In a quote by Bruce Aust, Vice Chairman at NASDAQ, he said, “T-Mobile US is one of the country’s most recognized technology brands and will join 72 percent of all public technology companies listed in the U.S. with its transfer to NASDAQ.” The NASDAQ also offers lower yearly listing fees than the NYSE, which has been suggested as a possible motive for T-Mobile. Listing on the NYSE can cost up to $500,000 while the NASDAQ is much more conservative with fees only reaching $27,500.
T-Mobile’s shares have continued to rise with an impressive 48% increase in 2015. Sprint has also managed to raise its stock price, though only by 2.9%. In contrast, its competitors Verizon and AT&T have underwhelmed with lower postings than last year. T-Mobiles transfer to the NASDAQ may help to further promote its stock as it strives to gain an even larger footing in the wireless market. The company’s Chief Financial Officer J. Braxton Carter spoke on behalf of T-Mobile, saying, “As America’s Un-carrier, we’re all about unleashing wireless for all Americans. 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 future-focused innovators listed on NASDAQ. This is going to be fun.”