First Silicon Valley Internet Company Joins The Wall Street Single Letter Club
June 14, 2011 at 20:48 PM EDT
As we reported earlier , Pandora will start trading tomorrow on the New York Stock Exchange under the single letter symbol "P". By doing so, it becomes the first Silicon Valley consumer Internet company to join exclusive one-letter stock ticker symbol club. That club was once reserved for the big blue-chip industrial companies: Chrysler (C), Ford (F), Sears (S), U.S. Steel (X), and Woolworth (Z). Of that list, only Ford and U.S. Steel remain. Chrysler was acquired by Daimler and lost the C to Citibank. Sears lost the S to Sprint Nextel. Woolworth went out of business. Of course, there are already several tech companies in the single letter club. Agilent Technologies (A), Sprint Nextel (S), AT&T (T). But none are pure consumer-based Internet companies.