Z

AAA

DEFINITION of 'Z'

A Nasdaq stock symbol specifying that the stock is a miscellaneous entity, such as a depositary receipt, stub, additional warrant or unit. When a stock has a Z after its ticker symbol, investors must do further research to determine why the letter has been added. However, Z historically had a different meaning in futures trading, where it indicated a delivery month of December until new options symbology was introduced in 2010. Z is also the ticker symbol for the home valuation website Zillow.

INVESTOPEDIA EXPLAINS 'Z'

Z is known as a fifth-letter identifier because Nasdaq-listed securities historically had only four characters. If a fifth letter appeared, it identified the issue as being different than a single issue of common stock or capital stock. Since 2007, Nasdaq-listed stocks may have as little as one letter in their ticker symbols. Other examples of fifth-letter identifiers are A or B for class A or class B shares, D for new issues and K for non-voting shares. Each letter of the alphabet has a specific Nasdaq meaning.

RELATED TERMS
  1. Depositary Receipt

    A negotiable financial instrument issued by a bank to represent ...
  2. Nasdaq

    A global electronic marketplace for buying and selling securities, ...
  3. T

    A Nasdaq stock symbol specifying that the stock has warrants ...
  4. L

    The fifth character added to a stock symbol listed on the Nasdaq ...
  5. Warrant

    A derivative security that gives the holder the right to purchase ...
  6. E

    A temporary fifth character suffix to a symbol for a stock traded ...
RELATED FAQS
  1. What is the difference between the Dow and the Nasdaq?

    Because of the way people throw around the words "Dow" and "Nasdaq," both terms have become synonymous with "the market," ... Read Full Answer >>
  2. What's the difference between a Nasdaq market maker and a NYSE specialist?

    What's the main difference between a specialist and a market maker? Not much. Both the New York Stock Exchange (NYSE) specialist ... Read Full Answer >>
Related Articles
  1. Options & Futures

    Getting To Know The Stock Exchanges

    Here are the answers to all the questions you have about stock exchanges but are too afraid to ask!
  2. Economics

    The ABCs Of Stock Indexes

    Indexes can track market trends, but they're not always reliable. Can you trust them?
  3. Retirement

    Electronic Trading Tutorial

    Learn about the systems that run the market. Topics include market makers, specialists, SuperDOT, ECNs, SOES, Level I, II, and III Access, and more.
  4. Mutual Funds & ETFs

    Index Investing

    Get to know the most important market indices and the pros and cons of investing in them.
  5. Investing Basics

    Explaining Market Value of Equity

    Market value of equity is the total value of all the outstanding stock as measured in the stock market at a particular time.
  6. Investing Basics

    What is Spread?

    Spread has several slightly different meanings depending on the context. Generally, spread refers to the difference between two comparable measures.
  7. Economics

    What is the Breakeven Point?

    In general, when gains or revenue earned equals the money spent to earn the gains or revenue, you’ve hit the breakeven point.
  8. Entrepreneurship

    Foreigner Starting A Business In The U.S.?

    Keep these four startup steps in mind before you do.
  9. Investing

    How To Trade Foreign Stocks

    We weigh the major ways to trade foreign stocks for investors.
  10. Economics

    Vietnam -- New Asian Hot Spot For Tech Investment

    Vietnam now has a rapidly expanding tech sector that's attracting investors from around the globe due to low business costs and highly skilled workers.

You May Also Like

Hot Definitions
  1. Interest Rate Risk

    The risk that an investment's value will change due to a change in the absolute level of interest rates, in the spread between ...
  2. Income Effect

    In the context of economic theory, the income effect is the change in an individual's or economy's income and how that change ...
  3. Price-To-Sales Ratio - PSR

    A valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the ...
  4. Hurdle Rate

    The minimum rate of return on a project or investment required by a manager or investor. In order to compensate for risk, ...
  5. Market Value

    The price an asset would fetch in the marketplace. Market value is also commonly used to refer to the market capitalization ...
  6. Preference Shares

    Company stock with dividends that are paid to shareholders before common stock dividends are paid out. In the event of a ...
Trading Center