SGI gives NASDAQ a go
Nicer than NYSE
SGI has returned to a major stock exchange for a second go at being a hardware star.
The beleaguered server seller emerged today under the SGIC ticker on the NASDAQ. It handed off 11m new shares in common stock and opened at $20 per share. By day's end, SGIC had dropped 2.5 per cent to $19.50.
The once glorious company was booted off the NYSE in November of 2005 and ended up in the world of penny stocks.
Earlier this month, SGI "blasted out" of bankruptcy.
The "New SGI" hopes to cater to a broader set of customers by expanding its server, storage and software lines. ®