Aphria (NYSE: APHA) will no longer be traded through that most classic of American financial institutions, the New York Stock Exchange (NYSE). On Tuesday, the company announced that its shares will move to the Nasdaq (NASDAQ: NDAQ), beginning at market open on Monday, June 8. The stock will retain its current ticker symbol of APHA.
Aphria said that one of the main reasons for the move was to save money. Listing on the NYSE, considered a prestige exchange, can be very costly, and like many other marijuana companies Aphria has at times struggled with profitability. The company also said the Nasdaq was a better fit given that exchange's emphasis on environmental, social, and governmental (ESG) principles.
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