Nearly 10 years after filing to go public on the New York Stock Exchange (NYSE) and Toronto Stock Exchange, Canadian e-commerce platform Shopify has announced that it’s transitioning its U.S. listing to the Nasdaq.
In a filing with the Securities and Exchange Commission (SEC) on Wednesday, Shopify said it is removing its Class A shares from the NYSE at the close of trading on Friday, March 28, with trading recommencing on the Nasdaq starting Monday, March 31. The company added that its existing listing on the Toronto Stock Exchange will stay as is, and its ticker symbol will also remain SHOP on both exchanges.
Shopify gave no explicit reason in the filing for changing its U.S. stock exchange venue, however a spokesperson for the company said: “We’re excited to join the Nasdaq community and be listed among the most innovative tech companies in the world.”
Shopify last month reported a reasonably strong Q4 2024, exceeding estimates with its revenue growing 31% year-on-year to $2.8 billion. The company’s market cap currently sits at $121 billion, up 55% from the same period last year.
Paul is a senior writer based in London, focused largely (but not exclusively) on the world of UK and European startups. He also writes about other subjects that he’s passionate about, such as the business of open source software. Prior to joining TechCrunch in June 2022, Paul had gained more than a decade’s experience covering consumer and enterprise technologies for The Next Web (now owned by the Financial Times) and VentureBeat. Pitches on: paul.sawers [at] techcrunch.com Secure/anon tip-offs via Signal: PSTC.08 See me on Bluesky: @jambo.bsky.social
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