Shopify Moves Stock Exchange Listing to Nasdaq

By Bobby Samwell • Wednesday, March 19 15:16 • Permanent Link

Shopify Inc. (NYSE, TSX: SHOP) announced that it will be transferring its U.S. stock exchange listing from the New York Stock Exchange (NYSE) to the Nasdaq Global Select Market. The company's class A subordinate voting shares are expected to cease trading on the NYSE on Friday, March 28, 2025, and commence trading on the Nasdaq on Monday, March 31, 2025. However, the listing on the Toronto Stock Exchange (TSX) will not be impacted, and the class A subordinate voting shares will continue to be listed under the ticker symbol "SHOP" on both the TSX and Nasdaq.

In terms of financial performance, Shopify has reported significant growth in its metrics. For the fiscal year 2024, the company's total revenue increased to $7.7 billion, representing a 57% growth compared to the previous year. Additionally, the Gross Merchandise Volume (GMV) processed through the Shopify platform reached $220 billion, marking a substantial 61% increase from the previous fiscal year.

Moreover, Shopify's merchant solutions revenue for the fourth quarter of 2024 amounted to $1.1 billion, reflecting a remarkable 65% year-over-year growth. The company's Subscription Solutions revenue for the same period also saw substantial growth, reaching $1.3 billion, which represents a 52% increase compared to the previous year.

Furthermore, Shopify's Adjusted Gross Profit for the fourth quarter of 2024 reached $1.2 billion, showing a significant 58% increase year-over-year. The company's Operating Income for the same period was reported at $184 million, marking a substantial 45% growth compared to the previous year.

The market has reacted to these announcements by moving the company's shares 9.7% to a price of $103.16. For the full picture, make sure to review Shopify's 8-K report.

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