Green Brick $GRBK Stock Up Ahead of Transfer To New York Stock Exchange

  • Post category:Stock Trading
  • Reading time:4 mins read
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Traders appear to be front running GRBK stock ahead of its transfer to the New York Stock Exchange on December 13, 2021.

Green Brick Partners, Inc. Announces Transfer to the New York Stock Exchange

On November 30, 2021, Green Brick Partners, Fortune Magazine’s top 20 fastest growing company of 2021 and its fastest growing public homebuilder, announced that it will transfer the listing of its common stock from the Nasdaq Stock Market to the New York Stock Exchange (“NYSE”). The Company anticipates commencing trading as a NYSE-listed company at market open on Monday, December 13, 2021.

Green Brick Partners’ common stock will continue trading under the ticker symbol “GRBK” after the transfer, and the Company will continue to trade on the Nasdaq until the transfer is completed.

“We are pleased to join the NYSE, the preferred exchange for our industry, as we move to increase our visibility in the investment community,” said Richard Costello, Chief Financial Officer of Green Brick Partners. “NYSE’s unique market model and world-class services will be integral in delivering on our continued commitment to bringing long-term value for our shareholders.”

The NYSE is home to many leading companies including 72% of the Fortune 500, and 93% of all homebuilders and building materials firms.

“We are excited to welcome Green Brick Partners to the NYSE community of icons and disruptors,” said John Tuttle, Vice Chairman and Chief Commercial Officer, NYSE Group.

$1 Billion Backlog

When the company reported Q3 back on November 2, 2021, they gave this very bullish disclosure on business operations:

“…during the last twelve months, our lot position grew over 100% to 24,354 owned and controlled lots. With our record $1 billion backlog, leading margins, and superior lot position, Green Brick is extremely well-positioned to grow our business in 2022 and beyond. At the end of the third quarter, we now have a record 863 spec homes, up nearly 50% year-over-year, included in our record 2,555 homes under construction. Most of our homes under construction should convert to closings over the next three quarters. The sale and closing of the increased number of spec homes will allow us to capture the most current price increases and to maximize profitability.”

GRBK Stock Technical Analysis

Grbk Stock Chart

Both the short-term and long-term trends are positive. This is a very positive sign. GRBK is one of the better-performing stocks in the Household Durables industry, it outperforms 77% of 68 stocks in the same industry. Although GRBK has an excellent technical rating, it does not present a decent entry opportunity at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when GRBK stock is a good entry.

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