Each stock market has its own traffic control police officer. Yup, that's right, just as a broken traffic light needs a person to control the flow of cars, each exchange requires people who are at the "intersection" where buyers and sellers "meet," or place their orders. The traffic controllers of both exchanges deal with specific traffic problems and, in turn, make it possible for their markets to work. On the Nasdaq, the traffic controller is known as the market maker, who, we already mentioned, transacts with buyers and sellers to keep the flow of trading going. On the NYSE, the exchange traffic controller is known as the specialist, who is in charge of matching up buyers and sellers.
The definitions of the role of the market maker and that of the specialist are technically different; a market maker creates a market for a security, whereas a specialist merely facilitates it. However, the duty of both the market maker and specialist is to ensure smooth and orderly markets for clients. If too many orders get backed up, the traffic controllers of the exchanges will work to match the bidders with the askers to ensure the completion of as many orders as possible. If there is nobody willing to buy or sell, the market makers of the Nasdaq and the specialists of the NYSE will try to see if they can find buyers and sellers and even buy and sell from their own inventories.
Perception and Cost
The Nasdaq is typically known as a high-tech market, attracting many of the firms dealing with the internet or electronics. Accordingly, the stocks on this exchange are considered to be more volatile and growth oriented. On the other hand, the companies on NYSE are perceived to be more well established. Its listings include many of the blue chip firms and industrials that were around before our parents, and its stocks are considered to be more stable and established.
Sentiment: Strong Buy
I'm pretty sure it'll be the NASDAQ Capital Markets. NVIV meets the Equity Standard and the Market Value of Listed Securities Standard. The cost of uplisting to the NYSE and staying uplisted is MUCH higher than the NASDAQ, which is part of the reason why you see smaller companies on the NASDAQ over the NYSE. They've been talking about the InVivo way of "doing more with less" and how "every dollar we spend is 30% of Frank's money", so I'm pretty sure they're going with the cheaper route here. In the end, it won't really matter as long as we're off the OTC which really hampers companies down that are trying to "grow up" like NVIV is.
Are PPS standards for listing a bit more flexible on Nasdaq? I think they have some options allowing for a share price below $4 but NYSE may require $4. Not sure, but that may make NYSE less likely
After reading that I'm inclined to prefer the NYSE since it appears to be more difficult for the Market Maker type of behaviour of the NASDAQ that at times feels like manipulation and at the same time will offer the impression that NVIV is not a wild and wooly NASDAQ high volatilty stock which will attract the more conservative buy and hold investor type.