Nearly a decade after filing to go public on the New York Stock Exchange (NYSE) and Toronto Stock Exchange, the Canadian e-commerce platform Shopify has announced its transition of the U.S. listing to the Nasdaq.
In a filing submitted to the Securities and Exchange Commission (SEC) on Wednesday, Shopify stated that it will remove its Class A shares from the NYSE following the close of trading on Friday, March 28, and trading will resume on the Nasdaq from Monday, March 31. The company also indicated that its current listing on the Toronto Stock Exchange will remain unchanged, and its ticker symbol SHOP will continue to be used on both exchanges.
While the filing did not provide a specific reason for changing its U.S. stock exchange venue, a spokesperson for Shopify expressed enthusiasm about joining the Nasdaq community, highlighting the opportunity to be listed alongside leading tech companies globally.
In the previous month, Shopify reported better-than-expected results for the fourth quarter of 2024, with a 31% year-on-year increase in revenue, reaching $2.8 billion. The company’s market capitalization currently stands at $121 billion, representing a 55% increase from the corresponding period last year.
