Domino’s stock will have a new home as of 2025.
According to TipRanks, beginning on Dec. 31, 2024, the pizza juggernaut will move its stock exchange listing from the New York Stock Exchange (NYSE) to the Nasdaq Global Select Market. This calculated move, which will keep the company’s present ticker symbol “DPZ” in place with trading starting on Jan. 2, 2025, may have an impact on the company’s market positioning and shareholder participation.
Since becoming public in July 2004, Domino’s, founded in 1960, has been trading on the New York Stock Exchange. The 24,221,929 shares offered for sale at the original public offering price were sold for $14 each. Domino’s shares closed above $454 on Wednesday, according to Nation’s Restaurant News, and the company is currently valued at almost $15.8 billion. Year to date, its shares have increased by around 11%.
As the “world’s first electronic stock market,” the Nasdaq (an acronym for the National Association of Securities Dealers Automated Quotations) debuted in 1971. The Nasdaq charges less for stock listings, even though the New York Stock Exchange is older and bigger, having been established in 1792.
Domino’s Stock Soared in April Due to Several Factors
The pizza giant’s stocks have been rallying since April.
According to Reuters, the popularity of the new reward programs and other promotions contributed to the over 7% increase in the pizza chain’s shares during pre-market trading.
By attracting “inflation-weary consumers,” the outlet also highlighted at the time how the new promotional items and loyalty programs contributed to the increase in same-store sales. Experts pointed to new menu items including pasta bowls, chicken wings, and desserts as aiding Domino’s in avoiding the nationwide decline in eating out.
The pizza chain’s success was undoubtedly a result of its new reward programs and food options. Still, analysts also point to other variables, such as the drop in food prices, which helped the gross profit margin rise by 0.6% in the first quarter.
Analysts also attribute Domino’s increased overall revenues to its collaboration with Uber Eats, its third-party delivery supplier, in September 2023. As per the deal, Domino’s drivers will continue to fulfill orders made on the Uber Eats platform, giving the chain authority over delivery execution. Additionally, Uber Eats will give Domino’s access to statistics on delivery effectiveness and increased sales.
