PepsiCo. is jumping to the Nasdaq, where it will list beginning Dec. 19.
At $ 165 billion, the soft-drink maker becomes the largest company by market value to jump exchange listings, Nasdaq said. Pepsi said Friday the move from the New York Stock Exchange will be more cost-effective and give it access to Nasdaq’s tools and services. Its ticker symbol, PEP, will stay the same.
Pepsi will be associating itself with some of the biggest, and hottest, U.S. tech company stocks and potentially be eligible to join the Nasdaq 100 index, tracked by the $ 58 billion PowerShares QQQ exchange traded fund.
But it also will find the company of other consumer product giants, such as Kraft Heinz, Starbucks and Mondelez. Also switching to the tech-heavy Nasdaq this year were Workday, with a $ 21.8 billion market value; Principal Financial, at $ 20.7 billion; and Brookfield Property Partners, at $ 15.4 billion.
A NYSE spokesperson had no comment for CNBC.