Fountain Powerboats started trading on the AMEX today under ticker "FPB." They were "FPWR" on the NASDAQ Small Cap and continued to meet all the necessary requirements. Why, then, would they desire a switch from the NSC to the AMEX? If anything, it seems a step down in prestige, no?
Fountain Powerboats Begins Trading on the American Stock Exchange
Thursday April 14, 8:00 am ET
WASHINGTON, NC--(MARKET WIRE)--Apr 14, 2005 -- Fountain Powerboats, Inc. (FPB - News), a subsidiary of Fountain Powerboat Industries, Inc. and leading manufacturer of high performance sport boats, fish boats and express cruisers, announced that its common stock has begun trading today, Thursday, April 14, 2005, at the open of market, under the symbol "FPB" on the American Stock Exchange ("Amex"). Fountain Powerboats was previously trading on the NASDAQ-SCM, under the symbol (NasdaqSC:FPWR - News).
"We are pleased to announce the listing of our common stock on the American Stock Exchange," said Fountain Powerboats CEO Reggie M. Fountain, Jr. "We firmly believe this listing will broaden our reach to capital markets, improve shareholder liquidity, increase our overall visibility in the financial community, and enable a wider range of investors to participate in the next phase of growth of our company."
Application to the American Stock Exchange has been approved for Fountain Powerboat Industries, Inc. This approval is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on the Exchange, and may be rescinded if the Company is not in compliance with such standards.
