Hawaiian Telcom (Nasdaq: HCOM) continues to shore up its financial profile, and getting approval to transfer its stock listing to the Nasdaq Global Market from the NASDAQ Capital Market is a good illustration of that trend.
The service provider's common stock began trading on the Nasdaq Global Market on Thursday, March 1, remaining under the HCOM ticker symbol. Friday midday trading saw the stock up 31 percent, or 5 cents, to $16, over its Thursday closing price of $15.95.
Last July, Hawaiian Telcom began officially trading on the Nasdaq.
Eric K. Yeaman, Hawaiian Telcom's president and CEO, thinks that "that the transfer to the Global Market will further increase our stock exposure and improve our trading liquidity."
Ever since emerging from bankruptcy at the end of 2010, the telco has made continual progress in improving its financial footing and creating new revenue streams including new business services like Ethernet and moving into the IPTV business.
- see the release
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