BridgeStreet Accommodations Announces Listing On American Stock Exchange.CLEVELAND--(BUSINESS WIRE)--Nov. 19, 1998--BridgeStreet Accommodations, Inc. (Nasdaq:BEDS) today announced that, effective November 30, 1998, its common stock would be traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. ("AMEX AMEX See: American Stock Exchange ") under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors BDS BDS abbr. Bachelor of Dental Surgery BDS Bachelor of Dental Surgery BDS n abbr (= Bachelor of Dental Surgery) → tÃtulo universitario BDS . John E. Danneberg, President and Chief Executive Officer of BridgeStreet stated "Switching to the AMEX is an important step forward. We believe the order-driven, auction structure of the AMEX, combined with its new leading edge technology from its merger with NASDAQ, will reduce our stockholders trading costs Trading costs Costs of buying and selling marketable securities and borrowing. Trading costs include commissions, slippage, and the bid/ask spread. See: Transactions costs. , permit faster executions of their trades, and increase BridgeStreet's visibility. We are excited about the opportunities it provides." Mr. Danneberg said that BridgeStreet chose to list on the AMEX in order to benefit from the market stability that the auction system offers. "Growth companies like BridgeStreet benefit from a specialist who is responsible for making an orderly market Orderly Market Any market in which the supply and demand are reasonably equal. Notes: Orderly markets usually don't have volatile price swings and prices are competitive, reflecting the true value of the good or service. ." Mr. Danneberg went on to say, "The AMEX provides its listed companies with a variety of programs which enable companies to better share their story with Wall Street and other investors." BridgeStreet offers upscale, fully furnished apartments, townhouses and condominiums primarily for business travelers and relocating corporate executives who need lodging for one night to several months or more. A typical unit is considerably larger and its cost considerably lower than traditional and extended-stay hotels. The company's diverse customer base centers on Fortune 2000 corporations, professional firms and travel-wise individuals. BridgeStreet's toll-free number is 1-800-B-STREET for calls from the U.S. or Canada. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which involve risks and uncertainties. The company's actual results may differ significantly from results discussed in the forward-looking statements due to a number of important factors, including, but not limited to, the company's planned rapid expansion, risks related to acquisition financing, dependence on third parties, market acceptance of the company's brand name, and factors affecting travel. These factors are more fully disclosed in the company's Registration Statement on Form S-4 filed with the Securities and Exchange Commission (File No. 333-39187). |
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