Shopify Moves US Listing to Nasdaq

Shopify to Move U.S. Stock Listing to Nasdaq

After almost a decade of being listed on both the New York Stock Exchange (NYSE) and the Toronto Stock Exchange, Shopify, a leading Canadian e-commerce platform, has declared its intention to shift its U.S. trading venue.

A recent filing with the Securities and Exchange Commission (SEC) detailed Shopify’s plan to delist its Class A shares from the NYSE. This delisting will be effective following the conclusion of trading on Friday, March 28th.

Trading of Shopify shares on the Nasdaq is scheduled to begin on Monday, March 31st. Importantly, the company confirmed that its current listing on the Toronto Stock Exchange will be maintained.

No Reason Explicitly Stated

The official SEC filing did not provide a specific rationale for this change in U.S. exchange listing. However, a company spokesperson communicated to TechCrunch their enthusiasm about the move.

The spokesperson stated that Shopify is “excited to join the Nasdaq community and be listed among the most innovative tech companies in the world.” This suggests a desire to align with a market perceived as a hub for technology leaders.

Recent Financial Performance

Shopify recently announced its Q4 2024 results, which demonstrated positive performance. Revenue increased by 31% year-over-year, reaching $2.8 billion and surpassing analyst expectations.

Currently, Shopify’s market capitalization is valued at $121 billion. This represents a substantial increase of 55% compared to the same quarter in the previous year.

The ticker symbol, SHOP, will remain consistent on both the Nasdaq and the Toronto Stock Exchange, ensuring continuity for investors.