Domain name company Tucows headed to the NASDAQ
Company to list on NASDAQ and perform a reverse stock split.
If you’ve watched Tucows’ stock over the fast few years, you’ve seen it go from under $1 to almost $3, and its market cap hit $125 million:
The stock surge is due to a couple things. First, the company has grown its stock price the old fashion way: making money. Second, it has used some of its excess cash to buy back its own shares.
Now the company is headed to the NASDAQ in addition to its existing home on Toronto Stock Exchange.
The company expects the start trading on the NASDAQ on December 30 under its existing ticker TCX. It will also do a 1-for-4 reverse stock split to boost its share price.
Trading on the NASDAQ will give Tucows a lot more exposure, and having a double digit share price will help it get coverage from analysts that don’t bother with companies trading for a few bucks. Why analysts have policies based on share price instead of market cap is beyond me.
Trading on the NASDAQ will help Tucows, and it will also bring more attention to the domain name business.