It's official: Charter Communications' Class A stock resumed trading on the Nasdaq stock market today under the "CHTR" symbol.
Charter started the morning off at $38 per share before dropping down to $35; by late morning it was at $35.20.
"To resume trading on Nasdaq is an important and meaningful milestone for Charter," said Mike Lovett, the operator's president and chief executive officer. "Through the hard work and discipline of the entire Charter team, we've made significant strides to enhance our products and services, expand our commercial business, and continue to improve customer care. As always, our goal is to provide Charter customers with outstanding entertainment and communications at a great value."
Charter emerged from its voluntary Chapter 11 bankruptcy in November. In July, the nation's fourth-largest cable operator announced that Craig Jacobson was appointed to its board of directors. With Jacobson serving as a member of Charter's audit committee of the board, Charter said at the time that it was able to move forward with re-listing its shares on the Nasdaq stock market.
Prior to today, Charter's Class A shares were issued in November 2009 and were trading on the OTC Bulletin Board under the symbol "CCMM."