Palantir Technologies Inc (NYSE:PLTR) shares moved higher after it announced it is transferring its listing to the Nasdaq from the New York Stock Exchange.
The software company said that it expects its shares will begin trading on the Nasdaq on November 26 under the ticker symbol ‘PLTR.’
It expects that upon transferring, it will meet the eligibility requirements of the Nasdaq-100 Index, an index composed of the largest non-financial companies listed on the exchange.
Investors welcomed the news as the entrance to a new index would mean that funds tracking that index would need to purchase Palantir shares.
Shares of Palantir added 9% at about $64 late morning on Friday, having surged about 300% so far in 2024.