ACV will transfer its stock listing from Nasdaq to NYSE, starting March 24, 2025, under ticker symbol ACVA.
Quiver AI Summary
ACV, a digital automotive marketplace, has announced its decision to transfer its common stock listing from Nasdaq to the New York Stock Exchange (NYSE), effective March 24, 2025. The company will continue trading under the ticker symbol "ACVA." ACV's stock will be available on Nasdaq until March 21, 2025. CFO Bill Zerella expressed excitement about the move, highlighting that the NYSE's infrastructure and visibility will enhance the company's market position. NYSE Chief Development Officer Chris Taylor welcomed ACV, anticipating a fruitful partnership that leverages the unique benefits of the NYSE.
Potential Positives
- ACV is transferring its stock listing to the New York Stock Exchange, which is generally perceived as a prestigious move that can enhance the company's market visibility and credibility.
- The transition to the NYSE is expected to strengthen ACV's position and expand its reach to stockholders, potentially leading to increased investment interest and trading volume.
- ACV's stock will continue to trade under its existing ticker symbol "ACVA," providing continuity for current investors and ease of transition for potential new investors.
Potential Negatives
- Transitioning to the NYSE may indicate concerns about previous performance or growth potential on the Nasdaq, which could raise questions among investors regarding the company's trajectory.
- The need for a listing transfer could suggest a strategic reevaluation or recognition of past challenges that necessitate a shift to a different exchange for better visibility and liquidity.
FAQ
Why is ACV transferring its stock to the NYSE?
ACV aims to strengthen its market position and expand visibility to stockholders by moving to the NYSE.
When will ACV start trading on the NYSE?
ACV's common stock is expected to begin trading on the NYSE on March 24, 2025.
Will ACV's ticker symbol change after the transfer?
No, ACV will continue to trade under its current ticker symbol “ACVA” on the NYSE.
How long will ACV's stock trade on Nasdaq?
ACV's stock will continue to trade on Nasdaq until the market closes on March 21, 2025.
Who is the CFO of ACV and what did he say about the transfer?
Bill Zerella is the CFO of ACV, and he expressed excitement about the transfer enhancing the company's visibility and reach.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ACVA Insider Trading Activity
$ACVA insiders have traded $ACVA stock on the open market 35 times in the past 6 months. Of those trades, 0 have been purchases and 35 have been sales.
Here’s a breakdown of recent trading of $ACVA stock by insiders over the last 6 months:
- GEORGE CHAMOUN (Chief Executive Officer) has made 0 purchases and 4 sales selling 700,000 shares for an estimated $14,695,155.
- CRAIG ERIC ANDERSON (CCDSO) has made 0 purchases and 2 sales selling 248,063 shares for an estimated $5,509,743.
- WILLIAM ZERELLA (Chief Financial Officer) has made 0 purchases and 7 sales selling 210,000 shares for an estimated $4,333,147.
- MICHAEL WATERMAN (Chief Sales Officer) has made 0 purchases and 8 sales selling 200,729 shares for an estimated $4,079,125.
- VIKAS MEHTA (Chief Operating Officer) sold 154,324 shares for an estimated $2,961,477
- ANDREW PEER (VP, Corporate Controller) has made 0 purchases and 2 sales selling 3,396 shares for an estimated $69,715.
- ROBERT P GOODMAN has made 0 purchases and 11 sales selling 0 shares for an estimated $0.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$ACVA Hedge Fund Activity
We have seen 141 institutional investors add shares of $ACVA stock to their portfolio, and 113 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC added 3,652,871 shares (+43.2%) to their portfolio in Q4 2024, for an estimated $78,902,013
- ARROWMARK COLORADO HOLDINGS LLC removed 1,788,338 shares (-27.2%) from their portfolio in Q4 2024, for an estimated $38,628,100
- DRIEHAUS CAPITAL MANAGEMENT LLC added 1,595,657 shares (+128.5%) to their portfolio in Q4 2024, for an estimated $34,466,191
- FMR LLC removed 1,222,672 shares (-9.1%) from their portfolio in Q4 2024, for an estimated $26,409,715
- FRANKLIN RESOURCES INC added 960,430 shares (+2346.2%) to their portfolio in Q4 2024, for an estimated $20,745,288
- CANDLESTICK CAPITAL MANAGEMENT LP removed 869,364 shares (-47.7%) from their portfolio in Q4 2024, for an estimated $18,778,262
- FRONTIER CAPITAL MANAGEMENT CO LLC added 770,828 shares (+59.7%) to their portfolio in Q4 2024, for an estimated $16,649,884
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
BUFFALO, N.Y., March 11, 2025 (GLOBE NEWSWIRE) -- ACV (Nasdaq: ACVA), a leading digital automotive marketplace and data services partner for dealers and commercial clients, announced today that it will transfer the listing and trading of its common stock to the New York Stock Exchange (“NYSE”) from the Nasdaq Stock Market LLC (“Nasdaq”).
ACV’s common stock is expected to begin trading on the NYSE on March 24, 2025, and will continue to be traded under its current ticker symbol “ACVA.” ACV’s common stock is expected to continue to trade on Nasdaq until the close of the market on March 21, 2025.
“We are excited to announce the transfer of our company’s stock listing to the NYSE, which represents another step in our journey as a public company,” said Bill Zerella, CFO of ACV. “We believe the NYSE's market infrastructure and global visibility will strengthen our position and expand our reach to stockholders.”
“We are pleased to welcome ACV to our community of listed companies,” said Chris Taylor, Chief Development Officer, New York Stock Exchange. “We look forward to working with the company for years to come, as it takes advantage of the visibility and liquidity that the NYSE uniquely provides.”
About ACV Auctions
ACV is on a mission to transform the automotive industry by building the most trusted and efficient digital marketplace and data solutions for sourcing, selling and managing used vehicles with transparency and comprehensive insights that were once unimaginable. ACV offerings include ACV Auctions, ACV Transportation, ACV Capital, ACV MAX, True360, and ClearCar.
For more information about ACV, visit www.acvauto.com .
Investor Contact:
Tim Fox
[email protected]
Media Contact:
Maura Duggan
[email protected]
