President Trump posted on Truth Social this morning that a New York Stock Exchange in Dallas “is an unbelievably bad thing for New York.” He added that he can’t believe they would allow them to do this.
The New York Stock Exchange (NYSE) is not officially moving to Dallas. Its primary operations, trading floor, and headquarters remain in New York City. However, New York is on a dangerous trajectory.
It’s not hard to believe New York City is letting it happen when one considers that the New York City ruling class is now comprised of communists and socialists. They want to destroy capitalism.
It’s a bad sign for New York City.
The Story
Intercontinental Exchange, which owns the NYSE, announced in February last year that it would launch NYSE Texas, a fully electronic equities exchange based in Dallas, pending regulatory filings. As part of the move, NYSE Chicago was reincorporated in Texas and renamed as NYSE Texas, allowing companies to list their securities on NYSE Texas.
NYSE Texas began operations in March last year.
NYSE Group President Lynn Martin said in February that Texas hosts the most NYSE-listed companies, representing more than $3.7 trillion of market value. Martin praised Texas’s pro-business environment.
“We are delighted to expand our presence in the Lone Star State, which plays a key role in driving our U.S. economy forward,” Martin said in a statement at the time.
Gov. Abbott said in a February 12 statement that his plan was for Texas to become the financial capital of America.
The outgoing head of the Big Apple’s top business advocacy group said Mayor Zohran Mamdani’s team is treating local employers like the “enemy.”
“I think there’s reason to be nervous in the sense that so far what we’ve heard on the business side is that we’re not going to be doing economic development,” Kathryn Wylde, president and CEO of the Partnership of the City of New York, said Sunday on 77 WABC’s “Cats Roundtable.”
“We’re going to be doing economic justice—whatever that means,” said Wylde, a member of Mamdani’s transition team on economic and workforce development. “It’s a lack of understanding of how important growth, economic growth, and job creation are to our city.”
Will the NYSE pack up its bull and leave at some point? It’s possible.
We are calling it “Y’all Street.”
ISLAMOFASCIST, RACIST, COMMIE MAMDANI IS HELPING CREATE THE BIGGEST STAMPEDE OUT IN NYC IN ITS HISTORY !!!!
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but a great thing for dallas, texas, the south and the gop in general…oh yes and investors. sadly, this won’t happen. the gop is too timid, too weak and too complacent, compliant and complicit in the evil chicanery of the democrat party, woke, feminism and other garbage infectious diseases destroying our once great constitutional republic.