InfoSonics Corp. (AMEX: IFO, News) announced Thursday Nasdaq has approved its application for listing on the exchange. After closing down 27 cents at $6.69, the company's shares jumped 32 cents to $7.01 in after-hours activity.
InfoSonics said it expects to begin trading on the Nasdaq Global Market under the new ticker symbol "IFON", effective at market opening on August 3, 2006. Until that time, InfoSonics' stock will continue to trade on the American Stock Exchange under the symbol "IFO."
"We are extremely pleased that our listing application has been approved," Joseph Ram, president and CEO, said.
According to Ram a Nasdaq listing is a significant milestone for his firm and highlights InfoSonics' commitment to enhance shareholder value. In addition, Ram said, trading on NASDAQ should help increase the liquidity of the stock.