Monro Muffler Brake Inc. has been selected for inclusion in the new NASDAQ Global Select Market. Prior to the change, the company had been listed on the NASDAQ National Market.
According to Monro, the NASDAQ Global Select Market has the highest initial listing standards of any exchange in the world based on financial and liquidity requirements. "We continually strive to provide our shareholders with earnings growth, liquidity, and transparency, and therefore view our ability to meet the stringent listing standards of the new NASDAQ Global Select Market as an important achievement for Monro," says Robert Gross, CEO and president.
Beginning July 3, NASDAQ-listed companies will be classified under three listing tiers -- NASDAQ Global Select Market, NASDAQ Global Market, and NASDAQ Capital Market. NASDAQ also plans to launch indexes based on these new tiers.
For additional information about the NASDAQ Global Select Market, please visit www.nasdaq.com/GlobalSelect.
Monro's stock was selling for $33.08 a share at the close of NASDAQ on Thursday, June 29. That compares to a 52-week high and low of $40.58 and $25.47, respectively.
