Sun Microsystems Trying The Ticker Change Trick (SUNW, JAVA)
Sun Microsystems (NASDAQ:SUNW) is willing to try just about anything to get its shares moving or at least thought of differently. The company is CHANGING ITS STOCK SYMBOL….to “JAVA.” Yep, the lame stock ticker change.
It will assume the stock ticker “JAVA” on NASDAQ on Monday, August 27, 2007. The company notes how it is mostly tied to the Java brand and platform. But here is the problem: it costs next to nothing to license Java anymore. Its main revenues come from actual product sales that it claims run teh Java deployments, but those servers and storage systems run everything else too.
Maybe they will try a reverse stock split next, or maybe keep issuing the statement “We are well positioned for the years ahead.” After that, they could see if the other listed company with the ticker “FREE” would sell them the ticker. This is a yawn of an event at best.
Jon C. Ogg
August 23, 2007
Jon Ogg can be reached at email@example.com; he does not own securities in the companies he covers.