Out with ROXI, in with NAPS
By Jo Best
Published: 5 January 2005 11:50 GMT
Napster, once the enfant terrible of the online music world, looks to have completed its transition to respectable corporate entity at the start of trading this week, with its first day of listing on the Nasdaq.
The online music company now trades under the ticker symbol NAPS.
Napster originally saw life as a public company when Roxio bought the online song shop in 2002, only to see the minnow turn tail and swallow its parent when Roxio sold its consumer software business in December of this year.
It then re-emerged under the Napster banner - with a revamped Nasdaq presence to match.
The company's shares fell on the first day of trading with the new moniker - down from $9.19 a share to $8.51.
Napster reiterated its guidance for the quarter ended 31 December. The company expects to make revenues of $11m.
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