Shopify (SHOP, Financial) is shaking things up, ditching the New York Stock Exchange for the Nasdaq. Starting March 31, the e-commerce giant will trade exclusively on the Nasdaq Global Select Market, while its Toronto Stock Exchange listing remains untouched. Shopify hasn't given a direct reason for the move, but a company spokesperson hinted at aligning with the world's most innovative tech firms. It's a notable shift for the company, which made its public market debut nearly a decade ago and has since cemented its place as a major player in the online retail space.
This move comes on the heels of a stellar Q4 2024 performance. Shopify's revenue shot up 31% year-over-year to $2.8 billion, blowing past estimates. The company's market cap now sits at $121 billion—up a staggering 55% from last year. With its 10-for-1 stock split in 2022 and a track record of strong financials, Shopify has positioned itself as a powerhouse in the e-commerce ecosystem, proving its ability to scale and adapt.
Investors seem to like what they see. Shopify shares was up nearly 8% at 12.04pm today, signaling confidence in the transition. The Nasdaq listing could mean broader exposure, deeper liquidity, and a tighter connection with the biggest names in tech. With momentum on its side, Shopify's next chapter looks set to be just as dynamic as its last.
