News Summary

Shopify, Canada’s largest tech company, has announced the voluntary transfer of its United States stock exchange listing from the New York Stock Exchange (NYSE) to the Nasdaq Global Select Market. The transfer will take effect at the close of trading on March 28, with trading on Nasdaq commencing on March 31 under the same ticker symbol ‘SHOP’. This move aligns Shopify with other major tech companies listed on Nasdaq such as Apple, Alphabet, and Amazon. Shopify’s Toronto Stock Exchange (TSX) listing remains unaffected. This strategic shift comes amid Shopify’s recent changes in its SEC filings, indicating a potential move towards becoming US-domiciled. The company has realigned its asset reporting to show a majority US-based asset portfolio. Despite this, a Shopify spokesperson stated the change was to align disclosures with software peers. The stock price on TSX saw an 8% increase following the announcement.