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Shares of Palantir Technologies (PLTR+11.47%) rose 8% on Friday afternoon following the company’s announcement that it will move its stock listing from the New York Stock Exchange (ICE-0.61%) (NYSE) to the tech-heavy Nasdaq (NDAQ+0.92%). The decision marks a strategic shift for the data analytics software company, which has been gaining traction in both the market and the broader tech industry.
Palantir, which recently secured a spot in the S&P 500 index, confirmed that it will retain its ticker symbol, PLTR, after the transition. Trading under the new listing is scheduled to begin on November 26. The company announced that it will transfer the listing of its Class A common shares to the Nasdaq Global Select Market, which represents the exchange’s highest tier for companies meeting stringent financial and…
