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PurchasePro to trade on Nasdaq SmallCap Market

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Las Vegas--In yet another sign of Wall Street’s rejection of b-to-b e-commerce companies, PurchasePro, a provider of web-based trading platforms, announced that its shares will no longer trade on the Nasdaq National Market but will begin trading on the Nasdaq SmallCap Market effective Monday. The company’s securities will continue trading under its current symbol, PPRO. “Transferring our securities from the Nasdaq National Market to the Nasdaq SmallCap Market enables PurchasePro to maintain a trading profile on a well-regulated and transparent market, as well as removing concerns regarding PurchasePro’s continued Nasdaq listing compliance,” the company said in a press release. PurchasePro’s share price closed at 39 cents on Friday despite a 1:5 reverse stock split on May 15.
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