Exodus Movement Marks NYSE American Debut

Exodus Movement is now trading on NYSE American as of Wednesday, according to a company representative from The Block. This milestone positions Exodus, a pioneer among crypto wallet developers, alongside a select group of publicly traded crypto firms on a major U.S. exchange.

The firm’s stock, ticker: EXOD, rose over 37% by the end of the trading day, reaching an all-time high of $64.50, before settling at approximately $53, as reported by Google Finance.

NYSE American, operated by the New York Stock Exchange in New York City, is where Exodus, founded in 2015, has shifted from its previous trading on OTC Markets under the same ticker. The company expressed intentions to ‘uplist’ earlier this year and received approval for its NYSE American listing in May 2024.

“Trading on the NYSE American will enable Exodus to create greater long-term value for our stockholders by enhancing our visibility in the investor community, thereby increasing liquidity,” stated Exodus CEO and co-founder JP Richardson.

In its third quarter, Exodus reported $20.1 million in revenues, but also acknowledged a net loss of approximately $800,000 for the fiscal year. The company generates revenue primarily from exchange services, including fiat onboarding, staking, and consulting services.

Recently, Exodus partnered with hardware wallet provider Ledger and the NFT platform Magic Eden.

“During Q3, we achieved significant year-over-year revenue growth and profitability, showcasing the strength of our business model and the increasing adoption of the digital asset market,” remarked CFO James Gernetzke.