Lumenon Gets a Nasdaq Listing
While most tech stocks took a tumble yesterday, the share price of Lumenon Innovative Lightwave Technology, Inc http://www.lumenon.com (LUMM) went up - by almost six percent.
More than 210,000 shares in the developer of optical integrated circuits changed hands ( see http://www.bigcharts.com/quickchart/quickchart.asp?symb=lumm&sid=0&o_symb=lumm&freq=1&time=4&x=60&y=14)
The reason? Lumenon finally got its listing on Nasdaq's national market yesterday, and trading in its stock is expected to start this morning.
In essence, this means that a lot more investors will take an interest in Lumenon. Many of them weren't keen on investing in Lumenon when it was listed on Nasdaq's Over The Counter Bulletin Board. They were even less keen when Lumenon was turfed off the Bulletin Board for a couple of months and its stock could only be traded on the "pink sheets" - unauthorized markets (see Lumenon Heading For NASDAQ Listing).
By Peter Heywood, international editor, Light Reading, http://www.lightreading.com