On December 18, cryptocurrency wallet provider Exodus Movement (EXOD) was listed on the NYSE American, primarily for small and medium-sized enterprises in the United States, becoming one of the few cryptocurrency companies traded on major U.S. exchanges.
According to data from Google Finance, Exodus Movement's stock price surged 37.36% to $53.50 per share at the close on the 18th, reaching a high of $64.50 during the trading session.
NYSE American is owned and operated by the New York Stock Exchange (NYSE). Exodus was founded in 2015 and previously traded on the over-the-counter market under the same stock symbol, announcing earlier this year its intention to seek an 'upgrade.'
Exodus Movement's common stock was approved for listing on NYSE American in May of this year. The company's CEO and co-founder JP Richardson stated at the time:
Trading on NYSE American will allow Exodus to increase our visibility among investors, creating greater long-term value for our shareholders and enhancing liquidity.
According to a report filed by Exodus in November, the company's revenue for the third quarter was $20.1 million, with a net loss of approximately $800,000. The company's revenue primarily comes from trading services, including fiat currency deposits, staking, and consulting services.
Exodus recently partnered with hardware wallet provider Ledger and the NFT platform Magic Eden.
Exodus CFO James Gernetzke stated: 'In the third quarter, we achieved year-over-year revenue growth and profitability, demonstrating the robustness of our business model and the growing adoption of the digital asset market.'
"Cryptocurrency wallet provider Exodus's stock surged 37% on its first day of trading on NYSE American" was originally published on (Block Tempo).