Monster Now Trading on New York Stock Exchange

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Monster Worldwide (profile; site) began trading on the New York Stock Exchange today and promptly saw its stock price move up.

Monster previously traded on the NASDAQ. It’s stock price closed at $12.01 a share on that exchange Friday. Today, it ran up almost 10 percent in the first hour of trading, before settling back to $12.81 (a 6.66  percent increase over its Friday close) when this item was posted at 11:45 a.m. ET. (Current price here.)

Monster Chairman and CEO Sal Iannuzzi announced the company’s move to the NYSE during the quarterly financial conference call Oct. 30.

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“We believe,” he said, “the New York Stock Exchange is a prestigious platform for Monster, a platform that is committed to integrity in governance, innovation and global growth. These are exciting times for Monster and our move to the New York Stock Exchange is consistent with the goals and strategies and values of the new Monster.”

He also announced during that call, attended by financial analysts, that he would be purchasing $1 million worth of Monster shares and CFO Tim Yates would buy $500,000 worth. Iannuzzi bought 72,000 shares on Nov. 4th at prices ranging from $13.77 to $13.99. Yates bought 36,000 shares that same day at prices ranging from $13.81 to $14.00.

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John Zappe was the editor of TLNT.com and contributing editor of ERE.net. John was a newspaper reporter and editor until his geek gene lead him to launch his first website in 1994. He developed and managed online newspaper employment sites and sold advertising services to recruiters and employers. Before joining ERE Media in 2006, John was a senior consultant and analyst with Advanced Interactive Media and previously was Vice President of Digital Media for the Los Angeles Newspaper Group.

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