Shapeways – a leading company providing 3D printing services, announced the decision to transfer its share price from the New York Stock Exchange (NYSE) to The Nasdaq Global Market. The transition is to take place as early as August 1, 2023, where the company will continue to appear under the symbols “SHPW” and “SHPWW”. Shapeways has been on the NYSE since April 2021 when it merged with Galileo Acquisition Corp.
Nasdaq and the New York Stock Exchange (NYSE) are the two most important stock markets in the United States. Both of these markets have their own unique characteristics that can influence a company’s decision on where it wants to be listed.
The Nasdaq Global Market is part of the Nasdaq Stock Market and is a stock exchange where large, global companies, especially related to technology, are listed. It is a “dealer’s market” exchange, which means that transactions are carried out between investors and dealers, not directly between investors. Nasdaq was the first electronic exchange and continues to be a leader in technological innovation.
The New York Stock Exchange (NYSE) is the oldest stock exchange in the United States and one of the most important stock exchanges in the world. It is an “auction market”, where transactions are carried out directly between investors on the basis of an auction (who bids more, buys). The NYSE is dominated by traditional, large companies from many different industries.
Shapeways’ two-year stay on the NYSE can hardly be called successful. Since its debut, its share price has been steadily falling to such an extent that in August last year the company was notified that its situation at that time was not in line with the stock exchange’s listing standards. NYSE requirements dictate that the shares of each listed company maintain a minimum average closing price of $1.00 per share for the next 30 days. Shapeways shares have not traded above $1.00 since July 14, 2022, and were in danger of being delisted entirely.
Source: www.shapeways.com