Find out how companies decide which stock exchange to list on

Companies sometimes decide to change which stock exchange they're listed on

A company can be asked to delist from a stock exchange by the exchange itself. In some cases, like when Shopify moved from the NYSE to the Nasdaq in 2025, the switch is made partly because the company wants to be seen as more or less of a tech company.

Visualize the differences between the NYSE and the Nasdaq

The two largest stock exchanges in the world by market cap of their listed companies have many key differences, including the number of companies listed on each exchange (the NYSE has fewer companies than the Nasdaq), their perceived volatility (the Nasdaq is perceived as more volatile), and more.

The fees for keeping a company listed on the NYSE are typically higher than the Nasdaq's

The current maximum annual listing fee for companies listed on the New York Stock Exchange was $500K as of early 2026. The maximum annual listing fee for companies listed in Nasdaq's top tier, on the other hand, was of $193K. Companies listed must pay these fees each year.

The Nasdaq is typically the world's second-largest stock exchange when measured by the total market value of the companies listed on the exchange

However, the Nasdaq sometimes surpasses the NYSE in terms of the total market cap of all the companies listed on each exchange. For instance, as of late April 2026, the Nasdaq's roughly 4,000 listed companies had a total market cap of about $44T, while the NYSE's roughly 2,300 companies' total market cap was around $38T.

What’s up with the new Texas Stock Exchange?

The two biggest stock exchanges in the U.S. are both based in New York—the New York Stock Exchange and the Nasdaq. But a potential new “Texas Stock Exchange”—which would be based in, you guessed it, Texas—could change that. To find out more about the project, backed by enormous companies such as BlackRock and Citadel, watch this video.

The stock market, explained in 3 minutes

The stock market consists of a set of exchanges and other venues where shares of public companies are bought and sold. The Nasdaq and the New York Stock Exchange are two of the most well-known exchanges in the US, while major exchanges also operate around the world, including in Tokyo, Shanghai, London, and São Paulo.

The Nasdaq was founded in 1971, marking the debut of electronic trading

The Nasdaq stock exchange arguably invented electronic trading, making it a key part of fintech history. It's often used as a benchmark for how the tech industry is performing.

Read about when Nasdaq partnered with the London Stock Exchange in 1992, and other key moments in Nasdaq history

The partnership became the first intercontinental linkage between capital markets, setting the stage for worldwide trading amid increasing globalization. Nasdaq separated from its parent company in 2006, becoming a fully independent licensed national securities exchange. A year later, it added the Scandinavian-based Exchange, OMX.

What is after-hours trading?

While both the New York Stock Exchange and the Nasdaq open at 9:30 am ET and close at 4 pm ET, some trading is allowed after that. After-hours trading was once only open to institutional investors and people with particularly high net worths. Now, with the advent of computers, anyone can trade stocks anywhere online, and those regulations have broadened.

A direct listing is when a company goes public, listing shares on a stock exchange

A direct listing is when a company goes public, listing its shares on a stock exchange, rather than issuing new shares or raising capital. That means investment banks—traditionally serving as intermediaries—could lose out on some of the profits from these deals as more companies like Spotify opt for direct listings.

The Nasdaq's 'Magnificent 7' companies are responsible for roughly 40% of the Nasdaq 100 index's gains, while the remaining 93 companies account for the other 60%.

As technology evolved, so did Wall Street

Before the telephone was invented in the mid 1800s, people had to trade stocks in person. But once office telephones and computers became commonplace, banks and other financial institutions didn't necessarily need to have their headquarters near exchanges like Wall Street's New York Stock Exchange.

The New York Stock Exchange was started in 1792

When it first opened, traders would meet both outside on the street and in coffee shops to do business. Today, the NYSE is known as one of the most important financial institutions in the world.

Why companies go public

There are many ways the founders of private companies can make money off an exit. They could sell the company to a larger organization, for instance. But there are unique benefits to having a company listed on the stock market that aren’t often outlined in news alerts about IPOs.

See a real-time list of the most shorted stocks in the US

Every two weeks, the Nasdaq and New York Stock Exchange release the stocks with the most short positions. Some of the companies with the highest short positions as of early 2026 were Hims & Hers and Groupon.

Investors rely on the S&P 500 as a benchmark for the state of the economy

Since the index represents a broad range of diverse industries, it's become a proxy for the market itself and a common benchmark for investors to compare returns and performance patterns against. Generally speaking, when someone says a stock is under- or out-performing the market, that actually means under- or out-performing the S&P 500. The S&P 500 is exchange-agnostic, and includes companies listed on both the NYSE and Nasdaq.

Why does the stock market matter?

Open any newspaper, turn on your local TV news station, or listen to a daily business radio segment, and you’re bound to hear about how the stock market is performing. Netflix created a 17-minute (free) explainer that dives deep into the nitty-gritty of how we got here.

Dual-class stock structures separate equity and decision-making authority

In the past few decades, dual-class stock structures have become an increasingly popular way for companies to raise capital in public markets without allocating traditional shareholder voting rights. Meta, Estée Lauder, and The New York Times are companies that are famously dual-class.

Biotech ETFs allow investors to gain exposure to multiple promising companies in the industry

Biotech ETFs offer a diversified alternative to purchasing an individual biotech stock and gambling on whether an individual company’s clinical trial yields the next blockbuster cancer treatment or an absolute flop. This list of the top biotech ETFs in 2025 can help you learn more about them.

Many startups in a variety of industries try to reframe themselves as 'tech companies'

Tech is still the dominant industry for startups—in part due to its low barriers to entry, high growth potential, investor preferences, and the proliferation of tech into a wide variety of industries. Sweetgreen, the fast-casual salad chain, for instance, has often referred to itself as a tech company.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

Dow components are chosen by a committee, not a formula

Unlike many indices, the Dow has no strict rules for inclusion. A small committee at S&P Dow Jones Indices uses judgment—favoring companies with strong reputations, steady growth, and broad investor interest.

What is Silicon Alley?

The term "Silicon Alley" refers to an area in New York City once known for its high-tech startups, especially during the dot-com boom. Silicon Alley ran from New York City's Flatiron District through Soho to the Financial District. After the dot-com bubble burst, tech companies spread out through the rest of Manhattan and Brooklyn. Learn more about the area and how it compared to Silicon Valley in this article.

Find out how venture capitalists make decisions

More than 30% of venture capital deals come from leads courtesy of a VC’s former colleagues or professional network. You can learn more about how venture capitalists decide which companies to invest in by reading this article.

Mutual funds vs. stocks: Which are better investments?

Mutual funds invest in multiple different companies with money from many investors, while stocks focus on investing in one company with funds from a single investor. There are pros and cons to both, but the weight of them depends on your personal financial goals.

Retail investors can get exposure to commodities via various financial vehicles

While retail investors likely won't go out and purchase a bushel of commodity wheat to trade, they can get exposure to the commodities market via commodity ETFs sold on traditional stock exchanges like the NYSE and Nasdaq and other financial vehicles. There are benefits to adding commodities to a retail investor portfolio (such as a hedge against inflation and a typically low correlation with more traditional asset prices), experts caution that commodities are usually volatile investments.

Many dot-com companies spent some investor money on expensive parties

Parties hosted by dot-com companies were known to be extravagant and expensive. Technology companies in the Bay Area hosted between 15 and 20 parties a week on average, which cost between $30K and $50K on average.

Learn how to read a prospectus, the juicy document that any company must file with the SEC before going public.

Venture capital is a form of funding provided to early-stage companies with high growth potential, typically in exchange for an equity (or ownership) stake

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

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The name 'Silicon Valley' arose from the founding of Shockley Semiconductor Laboratory in Fairchild Semiconductor in 1956-57, founded near Stanford University in Palo Alto

'Silent' fireworks have gained more interest in recent years as a quieter celebratory option.

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A century of Billboard issues documenting the evolution of popular music.

Some Pokémon have been named after real and fictional organisms, while some real-world species have been named after Pokémon, such as Chilicola charizard and Binburrum zapdos.

As of 2025, the most cited papers in science include a review of graphene, methods to improve image recognition, streamlining electron density calculations, and optimizing protein studies.

US housing costs have risen by roughly 175% between 1991 and 2026—but a growing number of Gen Zers are becoming homeowners anyway. In 2025, 4% of homebuyers were Gen Z, up from 3% the year before.

44% of Americans say they pray at least once a day—discover how your state's religiosity stacks up against the rest of the country.

Doctors differentiate between a phobia and fear by asking patients whether their fear interferes with their day-to-day activities.

Studies suggest when you sleep is as important as how much you get, and syncing with your circadian rhythms may lead to less fatigue and improved long-term health outcomes

When a Paris department store hesitated to sell Estée Lauder's perfume, she 'accidentally' broke a bottle, causing the smell to spread throughout the store and shoppers to start asking to buy the scent.

The rivalry between Alexander Hamilton and Thomas Jefferson centered on federalism—the question of how much power the federal government should hold relative to the states.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

For centuries, Niagara Falls has been a magnet for daredevils seeking to conquer one of nature's most powerful wonders, with its 200-foot drop and water rushing at 32 feet per second with 280 tons of force.

Radioactive elements can introduce software errors because the ionizing radiation they produce can detach electrons from atoms, and computer code relies on the distribution of electrons.

This site reaches millions of visitors who are tired of AI chatbots and seeking human connection. Pretend to be an AI chatbot and ask questions, provide answers, and draw for people in real time.

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