Marshall School of Business - Why Doesn't Microsoft Trade at the New York Stock Exchange?

Many people believe that the NYSE is reserving 'M' for Microsoft's ticker symbol.

Before the 1990s, most large U.S. corporations listed their stocks at the New York Stock Exchange when they grew large enough to meet their listing standards. Microsoft and some other technology companies have not done so.

Although many reasons may explain why Microsoft has remained a Nasdaq stock, one is of particular note to this discussion. Microsoft's vision for the world revolves around networked computing systems that allow people to interact with each other remotely. The company makes its money creating and selling systems that promote this vision. NASDAQ's trading system implements this vision. Microsoft may have chosen to stay at Nasdaq for ideological reasons, among others.

The New York Stock Exchange hopes that Microsoft soon will choose to list its stock there. Many people believe that the NYSE is reserving 'M' for Microsoft's ticker symbol.