TLDR
- Shopify will transfer its listing from NYSE to Nasdaq on March 31, 2025
- Stock ticker “SHOP” will remain unchanged on both Nasdaq and Toronto Stock Exchange
- Company’s Q4 2024 revenue increased 31% year-over-year to $2.8 billion
- Shopify’s market cap has grown to $121 billion, up 55% from last year
- Shares rose nearly 8% following the announcement
Shopify is making a significant change to its stock market presence. The e-commerce technology company announced it will voluntarily transfer its U.S. stock exchange listing from the New York Stock Exchange to the Nasdaq Global Select Market.
The transition is scheduled to take place at the end of March. Shopify’s shares will cease trading on the NYSE after market close on Friday, March 28, 2025.
Trading on the Nasdaq will begin the following Monday, March 31, 2025. The company’s ticker symbol will remain “SHOP” on both exchanges.
Shopify’s listing on the Toronto Stock Exchange will not be affected by this move. The company will continue to trade under the “SHOP” ticker on the TSX.
While Shopify hasn’t provided a direct explanation for the exchange switch, a company spokesperson suggested it relates to aligning with other innovative technology companies. Many of the world’s leading tech firms are listed on the Nasdaq.
Impressive results for the fourth quarter
The announcement comes during a period of strong financial performance for Shopify. The company recently reported impressive results for the fourth quarter of 2024.
Shopify’s revenue grew by 31% year-over-year, reaching $2.8 billion for the quarter. This figure exceeded analyst expectations.
The company’s market capitalization now stands at approximately $121 billion. This represents a substantial increase of 55% compared to the previous year.
Investors have responded positively to both the exchange transfer news and the strong financial results. Shopify’s stock was up nearly 8% following the announcement.
This upward movement suggests confidence in the company’s strategy and future prospects. The Nasdaq listing may provide Shopify with broader exposure to investors.
Additional benefits could include deeper market liquidity and closer association with major technology companies. These factors could potentially enhance Shopify’s market position.
Consistent growth since its initial public offering
The company has demonstrated consistent growth since its initial public offering almost a decade ago. A 10-for-1 stock split in 2022 made shares more accessible to a wider range of investors.
Shopify has established itself as a leader in the e-commerce sector. The platform powers millions of businesses across more than 175 countries.
Major brands using Shopify’s services include SKIMS, Supreme, ButcherBox, and BarkBox, among many others. The company provides tools for businesses to start, scale, and manage retail operations of any size.
Shopify describes itself as providing “essential internet infrastructure for commerce.” Its platform and services are designed for speed, customization, reliability, and security.
The company’s focus remains on delivering improved shopping experiences for consumers across online, in-store, and other retail channels. Shopify continues to adapt its offerings to meet evolving market demands.
The exchange transition represents another step in Shopify’s ongoing evolution as a major player in the global e-commerce landscape. Trading of Shopify’s Class A Subordinate Voting Shares will move to Nasdaq while maintaining its presence on the Toronto Stock Exchange.
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