Shopify stock gained on Wednesday after the e-commerce software maker said it will shift its listing to the Nasdaq composite from the New York Stock Exchange.
In a filing with the Securities and Exchange Commission, Shopify said it will remove its shares from the NYSE after the market close on March 28. Shares will begin trading on the Nasdaq on Monday, March 31.
The Canada-based company will retain its other listing on the Toronto Stock Exchange.
Palantir Stock Moved To Nasdaq
With the move, Shopify will likely join the Nasdaq 100 index, perhaps by year end. Palantir Technologies switched to Nasdaq from the NYSE in November. Soon after, Palantir stock joined the Nasdaq 100.
On the stock market today, Shopify stock rose more than 6% to 100.32. With Wednesday's gain, shares are down about 6% in 2025.
Shopify sets up e-commerce websites for small businesses, and partners with others to handle digital payments and shipping.
For the period ended Dec. 31, Shopify said adjusted EPS rose 29% to 44 cents. Also, revenue rose 31% to $2.81 billion.
SHOP stock holds a Composite Rating of 94 out of a best-possible 99, according to IBD Stock Checkup.
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