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.
BREAKING DOWN '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.
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Ticker Symbol
An arrangement of characters (usually letters) representing a ... -
J
A Nasdaq stock symbol specifying that the stock has voting rights. -
Hard-Coded Stock
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S
A Nasdaq stock symbol indicating shares of beneficial interest. ... -
Q
A Nasdaq stock symbol specifying that a particular stock is in ... -
M
The fifth letter of a Nasdaq stock symbol that specifies the ...
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