Posted on 10/14/2004 9:29:33 PM PDT by SeaBiscuit
SAN FRANCISCO (AP) - There was no big stir on Wall Street, but a San Francisco-based Internet company marked a cultural milestone Thursday by becoming the first gay-directed business to trade its stock on a major exchange.
PlanetOut Inc., which operates several gay and lesbian-themed Web sites, made an initial public stock offering of 4.65 million shares on the Nasdaq Stock Market. The shares gained 16 percent on the first day of trading, closing at $10.40.
In a nod to both its mission and as a statement of gay pride, PlanetOut adopted "LGBT" - an acronym for lesbian, gay, bisexual and transgender - as its ticker symbol.
While businesses catering to a gay clientele have appeared on the Australian Stock Exchange and smaller markets, PlanetOut has broken new ground by meeting the requirements for longevity and stability to get listed on Nasdaq, said Walter Schubert, a stock broker who founded Gay Financial Network.
"For years now, we've heard about the gay market and heard about how lucrative it is," said Schubert, who does not own any PlanetOut stock. "Here now is the first publicly traded company where those who are interested in taking advantage of an investment opportunity that's part of that market would find a pretty good opportunity."
(Excerpt) Read more at ap.tbo.com ...
marriage, the Gay Financial Network, and now Gay stock symbols..
what's next.. nah, don't tell me.
One can only hope they will "celebrate diversity" by donating some of their profits to straight causes, to balance the many corporations that now donate to the gay agenda. Ya think?
Thanks, I needed a good laugh. LOL
That is a weird ad, isn't it? I haven't seen the "Burger King" character since I was a kid.
GOOD GOD, that's creepy!
Homosexual Agenda Ping - just got back from a miserable trip, so I have to relax by checking FR and pinging when needed.
BTW, I was in SF and I think some kind of act of God is the only thing that will turn this around. That and courage, determination and wisdom by right minded people.
Let me and Scripter know if anyone wants on/off this pinglist.
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