Etsy (ETSY) Hits Fresh High on Transfer to NYSE Trading

We recently published 10 Stocks With 10-60% Upside. Etsy Inc. (NASDAQ:ETSY) is one of the top performers on Monday.

Shares of Etsy Inc. (NASDAQ:ETSY) soared to a new record high on Monday, as investor sentiment was boosted by plans to transfer its listed shares to the New York Stock Exchange (NYSE) in October.

In intra-day trading, the stock rallied to a new 52-week high of $75.77 before paring gains to finish the session just up by 15.83 percent at $74.34 apiece. This followed news that it will transfer to the NYSE on October 13 and cease to trade on the Nasdaq on October 10.

Investors viewed the transfer positively as getting listed on the NYSE—the largest stock exchange in the world—could help bolster its public exposure to a higher number of institutional and retail investors.

At present, the NYSE holds a roster of 2,300 listed companies with an overall market capitalization of $31 trillion, followed by the Nasdaq with $29 trillion in total market cap.

“We’re excited to join the [NYSE] and stand alongside some of the world’s most respected and innovative companies,” said Etsy, Inc. (NASDAQ:ETSY) CEO Josh Silverman.

“For 20 years, Etsy has connected tens of millions of thoughtful shoppers with creative entrepreneurs around the world, and we will continue to keep commerce human as we build even more personalized and differentiated shopping experiences. We’re looking forward to partnering with the NYSE to deliver on our commitments to transparency, excellence, and creating long-term shareholder value,” he added.

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Disclosure: None. This article is originally published at Insider Monkey.