Understanding "Q" in Nasdaq Ticker Symbols On the Nasdaq exchange, a trailing letter appended to a company's four-letter ticker has historically been used to convey special status information. The letter "Q" was one such suffix, used to indicate that a company had filed for bankruptcy and was undergoing bankruptcy proceedings. How Nasdaq ticker suffixes work
* Nasdaq primary tickers are typically four letters (for example, AAPL, MSFT).
* A fifth character can be added to convey specific information about a company’s status (compliance, corporate actions, etc.).
* The "Q" suffix specifically signaled bankruptcy filings under the old system.
Transition to the Financial Status Indicator
* Nasdaq replaced the single-letter bankruptcy suffix system with a broader Financial Status Indicator.
* The Financial Status Indicator flags a range of issues beyond bankruptcy, including failures to meet listing requirements and other compliance matters.
* As part of this change, Nasdaq no longer uses "Q" (and the letter "E") as active suffix identifiers.
Noncompliance reporting process
* Nasdaq publishes a daily list of companies that do not meet listing standards.
* A company is typically added to that list five business days after Nasdaq notifies it of noncompliance.
* A company is removed from the list one business day after Nasdaq determines it has regained compliance or no longer trades on Nasdaq.
Current relevance
* Although Nasdaq no longer uses "Q" as an active indicator, the suffix remains a useful historical reference when reviewing older ticker data.
* Other markets or exchanges may still use "Q" or similar conventions to denote bankruptcy—always check exchange-specific rules.
Key takeaways
* "Q" used to indicate a Nasdaq-listed company was in bankruptcy proceedings.
* Nasdaq now uses a Financial Status Indicator that covers multiple compliance and financial issues.
* Five-letter tickers incorporate a fifth character to convey status; Nasdaq no longer uses "Q" or "E."
* Nasdaq publishes and updates a noncompliance list on a set timeline (added after five business days; removed after one business day once resolved).
Why it matters: trailing ticker characters can signal material status changes. Investors should consult current exchange notices and filings rather than rely solely on ticker suffixes when assessing a company’s financial condition. Explore More Resources