Canadian e-commerce platform Shopify has announced it will move its US listing to NASDAQ almost a decade after it was published on the New York Stock Exchange (NYSE) and Toronto Stock Exchange.
When filed with the Securities and Exchange Commission (SEC) on Wednesday, Shopify said it would remove Class A stock from NYSE at the end of trading on Friday, March 28th and recommend trading on NASDAQ from Monday, March 31st.
While Shopify gave no explicit reason for filing to change listings on the US stock exchange, a spokesman for the company told TechCrunch:
Last month, Shopify reported a reasonable strong estimate for the fourth quarter of 2024, with revenues rising 31% year-on-year to $2.8 billion. The company’s market capitalization is currently at $121 billion, up 55% from the same period last year.