Kmart Shares Jump in First Day on Nasdaq
NEW YORK - Shares of Kmart Holding Corp., the discount retailer that emerged from bankruptcy last month, jumped more than 13 percent on Tuesday, the first day trading on the Nasdaq National Market, Reuters reports.
The Troy, Mich.-based company's stock was listed under the symbol "KMRT." Since last month, the company has traded on the over-the-counter market.
The stock was delisted from the New York Stock Exchange in December when it failed to remain above $1 as required by listing rules.
The company emerged from bankruptcy in May and its previous common shares were canceled as part of its Chapter 11 reorganization.
Kmart shares were up $2.31 at $20.01 on 1.2 million shares traded in early afternoon dealings on Nasdaq, after posting a high of $21.42 earlier in the day, according to Reuters.
The Troy, Mich.-based company's stock was listed under the symbol "KMRT." Since last month, the company has traded on the over-the-counter market.
The stock was delisted from the New York Stock Exchange in December when it failed to remain above $1 as required by listing rules.
The company emerged from bankruptcy in May and its previous common shares were canceled as part of its Chapter 11 reorganization.
Kmart shares were up $2.31 at $20.01 on 1.2 million shares traded in early afternoon dealings on Nasdaq, after posting a high of $21.42 earlier in the day, according to Reuters.
