Exodus debuts on NYSE stock exchange: shares soar 37%

By Daniele Corno

Record-breaking debut for Wallet provider EXODUS after listing on NYSE: EXOD stock flies +37% on first day

EXOD lands on NYSE with record performance

The company behind Exodus, one of the longest-running multi-crypto wallets, debuted on the New York Stock Exchange (NYSE) yesterday. The listing, follows the approval the company received in May 2024.

EXOD stock closed the first day of trading with an impressive +37%, reaching an all-time high of$66 before stabilizing at around$52.

Founded in 2015, Exodus had previously traded in the OTC markets under the same ticker. The listing represents a significant step for the company, which now ranks among the few crypto companies to be listed on U.S. markets.

“Trading on the NYSE American will enable Exodus to create greater long-term value for our shareholders by increasing our presence within the investment community and, in turn, increasing liquidity, ” said CEO and co-founder JP Richardson.

Financial growth and new partnerships

Exodus ended the third quarter of 2024 with$20.1 million in revenues, compared to a net loss of about $800,000. The company generates revenues mainly from exchange services ,FIAT currency onboarding and staking.

“In the third quarter, we achieved both revenue growth and year-over-year profitability, which demonstrates the strength of our business model as well as the growing market adoption of digital assets,” CFO James Gernetzke said instead.

Recently, Exodus has been working on new partnerships, including with hardware wallet maker Ledger and NFT platform Magic Eden. An operational strategy born with the goal of innovation, after being one of the market leaders since as far back as 2015.