MEMC Isn't MEMC Anymore
MEMC isn't MEMC anymore.
Late last week, MEMC Electronic Materials confirmed that it will officially change its name to SunEdison today and adopt the "SUNE" ticker symbol for itself. Stockholder support for the change was said to be "overwhelming."
On Monday, the change did in fact take effect, with the result that most financial news websites now produce a null response to searches for the old "WFR" ticker. Conversely, the "SUNE" ticker is now active -- but mostly devoid of useful information while we wait for the data providers get their ducks lined up in a row.
Company President and CEO Ahmad Chatila thinks the data update will be worth the wait: "We strongly believe the SunEdison name provides us with broader marketplace appeal and scalability that will help us grow the company and build long term brand equity as we look toward the next chapter."
Meanwhile, for those who could find it, the new ticker glowed green in Monday trading, rising 3.5% to close at $8.35.
The article MEMC Isn't MEMC Anymore originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.