Shopify moves US listing from NYSE to Nasdaq

Nearly a decade after initially filing for a public listing on both the New York Stock Exchange (NYSE) and Toronto Stock Exchange, the renowned Canadian e-commerce giant Shopify has revealed its plans to switch its U.S. listing to the Nasdaq.

Making an official disclosure with the Securities and Exchange Commission (SEC), Shopify informed investors and stakeholders that it will delist its Class A shares from the NYSE, effective at the close of market on Friday, March 28. Subsequently, trading of Shopify’s shares will shift to the Nasdaq on Monday, March 31. While this change pertains to the U.S. exchange, the company assured that its listing on the Toronto Stock Exchange will remain unchanged and that the ticker symbol, SHOP, will persist across both exchanges.

Although Shopify did not explicitly outline the motive behind relocating its U.S. stock listing, a spokesperson shared with TechCrunch that the company is looking forward to becoming a part of the Nasdaq ecosystem and joining the ranks of the most innovative tech firms globally.

Shopify recently reported a strong performance in the fourth quarter of 2024, exceeding expectations as its revenue surged by 31% year-over-year to reach $2.8 billion. The company’s market capitalization currently stands at $121 billion, representing a notable 55% increase since the corresponding period last year.

With this strategic move, Shopify is positioning itself to further leverage the Nasdaq’s extensive network and visibility within the tech industry, possibly fostering new opportunities for growth and collaboration. This transition signifies a significant milestone in the company’s evolution and underscores its ongoing commitment to enhancing shareholder value and expanding its reach in the U.S. market.

As Shopify embarks on this new chapter, it remains steadfast in its mission to revolutionize the e-commerce landscape and empower businesses of all sizes to thrive in the digital economy. By aligning itself with the dynamic and tech-savvy Nasdaq community, Shopify is poised to continue its trajectory of innovation and customer-centricity, setting the stage for continued success and sustainable growth in the years ahead.