What happened to Bayer stock?

Bayer AG may have been investing in the United States since the end of the Civil War, but only Thursday did the pharmaceutical company's stock began trading on the New York Stock Exchange. Stock in the German company, which has a Pittsburgh-based U.S. subsidiary, Bayer Corp., opened at $33.09 Thursday and held steady in morning trading.

What was the price of Bayer stock Thursday?

Stock in the German company, which has a Pittsburgh-based U.S. subsidiary, Bayer Corp., opened at $33.09 Thursday and held steady in morning trading. Analysts expected the stock, under the ticker symbol BAY, to trade at a rate similar to its foreign shares, which was up 2 percent at 37.65 euros ($33.07) in mid-afternoon trading in Frankfurt.

Why is Bayer AG listing on Wall Street?

Bayer AG wants to take advantage of U.S. financial markets and attract more investors and plans to use the stock to make future acquisitions and launch stock programs for U.S. employees. Company spokesman David Reeder described the stock listing on Wall Street as a vehicle to ensure Bayer's long-term growth.