As part of an ongoing rebranding strategy of The Market Herald’s (ASX:TMH) parent company of the same name, the ASX will see a new ticker come online: MKT.
From today, the code ‘TMH’ will be no more.
The Market Herald will revert its ticker to MKT as part of a rename to The Market Limited.
This masthead will, in turn, become The Market Online. Shareholders approved the rebrand strategy earlier this month.
Why is the Market Herald re-naming?
Management is moving to The Market Limited to align with its recent transition to being an online marketplace owner.
The company last year bought Gumtree Group, which gave it access to Australia’s Gumtree, as well as Carsguide and Autotrader – virtual marketplaces for vehicles.
The Market Limited also continues to operate HotCopper, and its counterpart in Canada, Stockhouse which allows share traders to discuss stock market activity.
“The inspiration for the change of name comes as the company moves to secure its strong foundation as an online marketplace across both the Gumtree Group and the Capital Markets Group,” The Market Limited COO Twila Jensen said.
The Market Herald, which will become The Market Online, provides a platform for company news, interviews, research and relevant investor information.
The Market Herald also publishes in Canada, covering stocks listed in North America, including on the Canadian Securities Exchange (CSE) as well as the Toronto Stock Exchange (TSX) which is similar to the ASX – heavily exposed to miners.
HotCopper is Australia’s largest and best-known trader information-sharing forum.
It’s also one of the largest finance websites in Australia, and HotCopper is often the #1 (number one) ranking website for investing in Australia.
One TMH executive based in Canada described HotCopper as “an Australian Reddit for shares.”
TMH shares last traded at 27 cents.