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Red Hat dumping Nasdaq for NYSE

The Linux seller announces plans to shift from one stock exchange to another.

Red Hat expects its shares to begin trading on the New York Stock Exchange beginning December 12, the Linux seller said earlier this month.

The Raleigh, N.C.-based company said it expects the move away from the Nasdaq market "will increase Red Hat's visibility among investors, reduce trading volatility and offer more efficient pricing," said Chief Financial Officer Charlie Peters in a statement. The company's stock will be listed under the symbol RHT.