Shopify Stock Rips On Announcing Shift To Nasdaq From NYSE, Retail Sentiment Soars

Shares of Shopify Inc. (SHOP) ripped over 8% in Wednesday’s regular trading session and extended gains during after-market hours after the company announced that it is switching to the Nasdaq from the New York Stock Exchange.

The e-commerce platform announced in its filing with the U.S. Securities and Exchange Commission (SEC) that it will voluntarily remove its stock from the NYSE on Mar. 28. Once the markets open, the shares will begin trading on the Nasdaq on Mar. 31.

“The Shares have been authorized for listing on Nasdaq and will continue to trade under the stock symbol ‘SHOP’,’ the company said in its filing.

Shopify will continue to retain its listing on the Toronto Stock Exchange.

While Shopify did not specify why it’s moving to the Nasdaq from NYSE, it follows the same pattern as Palantir Technologies Inc. (PLTR).

Palantir moved to Nasdaq in November and was subsequently added to the more exclusive Nasdaq 100 index a month later.

Any exchange-traded funds tracking the Nasdaq will also include Shopify once the Canadian e-commerce platform starts trading on the index next week.

Retail sentiment on Stocktwits around Shopify soared to enter the ‘bullish’ (65/100) territory from ‘extremely bearish’ (24/100) a day ago. Message volume surged to ‘high’ levels at the time of writing.

SHOP sentiment and message volume March 19, 2025, as of  9 pm ET | Source: Stocktwits

One user thinks that the Shopify stock will cross its all-time high this quarter.

However, not everyone was as optimistic, with one user mocking the bulls saying the markets are pricing in no tariffs.

Shopify’s stock has lost nearly 5% year-to-date, but gained almost 31% over the past year.

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