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Kmart off to a good start on NASDAQ

New York — Kmart's new common stock began trading this morning on the NASDAQ National Market and by mid-day the stock price had climbed $2.44, or 13.79 percent, to $20.14.

The new stock had been trading on the over-the-counter Bulletin Board following Kmart's emergence from Ch. 11 bankruptcy May 6.

"This listing is another important milestone in Kmart's recovery," said Julian Day, president and ceo, in a statement. "Among other benefits, listing on the NASDAQ should enhance the trading liquidity of the new common stock and expand the number of investment manager funds eligible to purchase the stock."

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