Shopify, the prominent Canadian e-commerce platform, has announced its decision to transition its U.S. stock listing from the New York Stock Exchange (NYSE) to NASDAQ. This change will take effect after the close of trading on March 28, 2024. Despite Shopify's solid performance in Q4 2024, where its revenue grew by 31% year-on-year to reach $2.8 billion, the company did not provide a detailed rationale for this switch. Its existing Toronto Stock Exchange listing will remain the same, and the ticker symbol 'SHOP' will be unaffected.
Shopify is shifting its U.S. listing from the NYSE to the Nasdaq, effective March 31, while maintaining its Toronto Stock Exchange listing and existing ticker symbol.
Despite not providing a specific reason for the exchange move, Shopify reported a strong Q4 2024 with revenue growth of 31% year-on-year to $2.8 billion.
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