Virtual brokerage eXp Realty is set to start trading on the Nasdaq Monday morning under the ticker EXPI, the company said before markets opened.
eXp Realty, under its parent company eXp World Holdings, has been trading on the middle-tier venture market OTCQB and applied to uplist to Nasdaq in April. The company announced it had been approved to move to the stock exchange last week.
“Today marks a special day in the history of eXp Realty. Our move to Nasdaq is a continuation of almost nine years of iterating around the long-term value proposition for real estate professionals,” eXp World Holdings CEO Glenn Sanford said in a statement. “We are proud of our ability to be able to deliver on our promise to our agents, brokers, staff and shareholders who have believed in our vision over the years.”
eXp Realty is a cloud-based brokerage that includes an entire virtual world game where brokers create avatars to attend classes and network. eXp Realty agents earn company stock when they make deals or accomplish tasks like recruiting new agents to the brokerage.
The company posted strong first-quarter earnings last week, showing revenue up 188 percent to $62 million from $21.5 million the year prior.