Mister Car Wash Announces Transfer of Stock Listing to Nasdaq

Rhea-AI Summary

Mister Car Wash, the nation's largest car wash brand, has announced plans to voluntarily transfer its stock listing from the New York Stock Exchange to the Nasdaq Global Select Market. The transition will take effect after market close on December 31, 2024, with trading on Nasdaq beginning January 2, 2025. The company will maintain its current ticker symbol 'MCW'.

Positive

• Maintains visibility and trading continuity by keeping ticker symbol 'MCW'
• Upgrades to Nasdaq Global Select Market, the highest tier of Nasdaq listings

Negative

• None.

Insights

Financial Market Analyst

The voluntary transfer of MCW's listing from NYSE to Nasdaq represents a strategic but largely neutral operational move. With a market cap of $2.3 billion, this transition aligns with Nasdaq's growing appeal among consumer services companies, particularly those with significant digital and technology components in their operations. The key factors to consider:

• Cost efficiency: Nasdaq typically offers lower annual listing fees compared to NYSE, potentially reducing administrative expenses
• Trading dynamics: Nasdaq's electronic market-making system might provide marginally better liquidity for MCW's shares
• Tech association: Nasdaq's reputation for technology and innovation could better position MCW as it continues to modernize its car wash operations

For investors, this change should have minimal impact on trading mechanics or stock value. The continuation of the MCW ticker symbol ensures consistency in market identification and trading patterns. The transfer occurs during low-volume trading periods (New Year's weekend), minimizing any potential market disruption.

Ticker symbol to remain “MCW”

TUCSON, Ariz.--(BUSINESS WIRE)-- Mister Car Wash, Inc. (the “Company”) (NYSE: MCW), the nation’s largest car wash brand, today announced that it will voluntarily transfer the listing of its common stock from the New York Stock Exchange (“NYSE”) to the Nasdaq Global Select Market (“Nasdaq”) effective December 31, 2024, after market close. The Company expects its common stock to begin trading on Nasdaq upon market open on January 2, 2025, and continue to trade under the ticker symbol "MCW".

About Mister Car Wash® | Inspiring People to Shine®

Headquartered in Tucson, Arizona, Mister Car Wash, Inc. (NYSE: MCW) operates over 500 locations and has North America's largest car wash subscription program. With a passionate team of professionals, advanced technology, and a commitment to exceptional customer experiences, Mister Car Wash is dedicated to providing a clean, shiny, and dry vehicle every time. The Mister brand is deeply rooted in delivering quality service, fostering friendliness, and demonstrating a genuine commitment to the communities it serves while prioritizing responsible environmental practices and resource management. To learn more visit www.mistercarwash.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding Mister Car Wash’s expectations regarding the timing and benefits of the transfer of its common stock listing to Nasdaq are forward-looking statements. Words including “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “seek,” “should,” or “will” or the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements, including, but not limited to those factors discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as such factors may be updated from time to time in its other filings with the SEC accessible on the SEC’s website at www.sec.gov and the Investors Relations section of the Company’s website at www.mistercarwash.com. Any forward-looking statement that the Company makes in this press release speaks only as of the date hereof. Except as required by law, the Company does not undertake any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241219198292/en/

Investors

Edward Plank

IR@mistercarwash.com



Media

media@mistercarwash.com

Source: Mister Car Wash, Inc.

FAQ

When will Mister Car Wash (MCW) start trading on Nasdaq?

Mister Car Wash (MCW) will begin trading on Nasdaq on January 2, 2025, following the transfer from NYSE.

Will Mister Car Wash change its ticker symbol after moving to Nasdaq?

No, Mister Car Wash will maintain its current ticker symbol 'MCW' after transferring to Nasdaq.

When will MCW's NYSE listing end?

MCW's NYSE listing will end after market close on December 31, 2024.

Which Nasdaq market tier will MCW be listed on?

MCW will be listed on the Nasdaq Global Select Market, which is Nasdaq's highest listing tier.