Last week, Pandora IPO’s on the stock market with a single letter stock ticker – P. It thus joined a “prestigious” group of fewer than 26 companies to have a single letter stock ticker. Other members include Agilent, Macy’s, Ford (back from the dead), and Visa.
Does it really matter if you have a single letter? In the days of the Pony Express and ticker tapes (hence the term “ticker”), heavily traded stocks were given single letters to speed things up. Nowadays, it’s just a vanity play since we don’t use ticker tapes. Or the Pony Express (though some would argue the state of our postal service… never mind).
That reduces the number of available single letter stock tickers to six (I, J, Q, U, W, Z), so if you’re planning an IPO and want to snag one of these, I’d move quickly!
Here are the current holders of single letter stock tickers (accurate as of June 2011):
(Click to continue reading…)