Shopify Inc (TSX:SH., NYSE:SHOP) shares surged on the news the commerce technology company is transferring its US stock listing to the Nasdaq Global Select Market from the New York Stock Exchange (NYSE).
Shares of Shopify added 8.4% at about $102 on Wednesday afternoon.
The company said late on Tuesday that it expects its Class A Subordinate Voting Shares will stop trading on the NYSE at market close on March 28. Its shares are set to commence trading on the Nasdaq on March 31.
The company’s Toronto Stock Exchange (TSX) listing will not be impacted.
It will continue to be listed under the ticker symbol “SHOP” on both the TSX and Nasdaq.